Vroom, Ping Identity, Sage Therapeutics & more

Take a look at some of the biggest movers in the premarket:

Vroom (VRM) – Vroom plans to offer $ 500 million convertible bonds due in 2026. The e-commerce platform provider for used cars plans to use the proceeds for various corporate purposes and to invest in or acquire new technologies. The share lost 6.1% in pre-market trading.

Ping Identity (PING) – Ping Identity announced an offer of 6 million shares in a sale of shares held by mutual funds affiliated with Vista Equity Partners. The identity management solutions company will not receive any proceeds from the offering. The share lost 4.2% before the market.

Sage Therapeutics (SAGE) – The drugmaker’s shares fell 17.5% in pre-market trading after the release of study results for Sage’s experimental depression drug. The decrease comes even though treatment resulted in statistically significant improvement in symptoms.

Boeing (BA) – The US and the European Union have announced a settlement of the longstanding dispute over aircraft subsidies between Boeing and European rival Airbus. The deal suspends tariffs approved by the World Trade Organization for five years, and U.S. Trade Representative Katherine Tai said it could serve as a model for resolving future disputes.

Exxon Mobil (XOM) – Bank of America re-affirmed a “buy” rating for the energy giant’s stock and predicted that Exxon Mobil would increase its dividend before the end of the year following cost-cutting measures and a rebound in oil prices.

Spirit Airlines (SAVE) – Spirit Airlines said in a filing with the Securities and Exchange Commission that demand for leisure travel continued to improve during the second quarter, and that operating income also increased. Citi upgraded the stock from neutral to buy following this update, and stocks rebounded 2.6% early on the market.

Fastenal (FAST) – The maker of industrial and construction supplies was downgraded from “equally weighted” to “underweighted” at Morgan Stanley, identifying a lull in customer acquisition and a stock that is already near an all-time high. The share lost 2.2% before the market.

AstraZeneca (AZN) – AstraZeneca said an experimental monoclonal antibody treatment failed to achieve its primary goal of preventing Covid-19 in patients exposed to the virus. However, the company also said its Covid-19 vaccine is 92% effective against what is known as the “Delta” variant of the virus.

Cracker Barrel (CBRL) – Cracker Barrel announced a private offering of $ 275 million senior convertible notes due in 2026. The restaurant chain will use the proceeds to pay off debt and for general corporate purposes.

Novavax (NVAX) – Novavax announced positive results from its first study of its Covid-19 vaccine and a co-administered flu vaccine. The study suggested that vaccination at the same time might be a viable strategy.

Intuit (INTU) – The financial software company announced in an SEC filing that its online service QuickBooks saw new customer acquisition growth of more than 25% year over year in the nine months ended April 30, high in retail on Monday.

Vimeo (VMEO) – Vimeo reported that total revenue increased 42% year over year in May, with the video services company also increasing average revenue per user by 18%.

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