Check out some of the largest moving companies on the pre-market:
Apollo Global (APO), Athene (ATH) – The private equity firm’s shares rose 8% in premarket trading after it was announced it will merge with retirement benefit company Athene in an all-stock deal that Athena is valued at around $ 11 billion. The Athene share rose by 19.6%.
McAfee (MCFE) – The cybersecurity firm’s shares rose 10.9% in premarket trading after it was announced it sold its corporate business to privately held Symphony Technology Group for $ 4 billion in cash.
Walt Disney (DIS) – Disney may reopen Disneyland after more than a year. On April 1, California officials granted theme parks and stadiums for the opening with reduced capacity. Separately, Disney’s “Raya and the Last Dragon” was at the box office with ticket sales of $ 8.6 million, although that opening was muted after the cinema chain Cinemark (CNK) declined to show the film. Disney rose 1.5% ahead of the market.
General Electric (GE) – GE has signed a $ 30 billion contract to merge its aircraft leasing business with Ireland’s AerCap (ARE), according to people familiar with the matter who spoke to the Wall Street Journal. An announcement of GE’s latest restructuring move is expected today. The share rose 2.3% in the pre-market, while the AerCap share gained 12.3%.
Adaptive Biotechnologies (ADPT) – Adaptive Biotechnologies has received emergency approval from the Food and Drug Administration for its “T-Detect” test, which confirms recent or previous Covid-19 infection in patients. Shares rose 11.3% before entering the market.
AT&T (T) – AT&T said the Securities and Exchange Commission’s allegations against three employees were baseless and vowed to challenge them. The SEC claims that employees selectively shared information about smartphone sales in 2016, leading these analysts to lower their sales forecasts.
Bumble (BMBL) – The dating service operator received a number of positive analyst recommendations, with Cowen rating the stock “Outperform” on its new coverage and Stifel and Citi initiating coverage with a “Buy” rating and Bumble stock on Friday increased by 3.4%. Analysts believe Bumble is ready for a post-pandemic leap in usage. Despite the positive recommendations, the share fell 2.8% in premarket trading.
GameStop (GME) – The video game retailer’s stock continues volatile trading amid stronger Reddit-related momentum, rising 11.4% in the pre-market after rising three straight times late last week.
Xpeng (XPEV) – The shares of the China-based electric vehicle maker rose 2.2% in premarket trading after posting a loss of $ 120.7 million in the last quarter, 42% less than the year-ago quarter. Xpeng competitor Nio (NIO) fell 3.1% in the pre-market after Jeffries cut his price target for the share from $ 60 to $ 38.80.
Facebook (FB) – A racist investigation of Facebook by the Equal Employment Opportunity Commission has been classified as “systemic” by four plaintiffs who spoke to Reuters, according to lawyers. Plaintiffs accuse Facebook of prejudice about hiring and promotions, despite the fact that the EEOC has not made any allegations against the social media giant and the investigation may not reveal any results of wrongdoing. Facebook lost 1% in premarket trading.
Coherent (COHR) – Coherent said a revised acquisition proposal from optical electronics maker II-VI (IIVI) was superior to its upcoming merger agreement with Lumentum (LITE). Coherent – a developer of laser-based technology – gave Lumentum the opportunity to submit a revised proposal at 11:59 p.m. PT on March 11, or intends to redeem II-VI proposal of $ 170 per share in cash and 1.0981 common shares of II- VI to assume stock for each Coherent share. The II-VI share fell 2.2% in the pre-market.
VF Corp (VFC) – VF was raised to “Buy” from “Hold” on Pivotal Research, citing a number of factors including relatively easy comparative sales comparisons for Vans and positive outlook for North Face and Timberland.
Pearson (PSON) – Pearson stock rose 5.9% ahead of market entry after education publisher announced a strategy update that is more directly aimed at consumers.