Stocks Making The Biggest Moves On The Pre-Market: Virgin Galactic, Moderna, AMC Entertainment & More
Check out some of the largest moving companies on the pre-market:
Virgin Galactic (SPCE) – Virgin Galactic gained 20.5% in premarket trading after successfully flying its SpaceShipTwo aircraft over the weekend. Virgin’s first manned spaceflight in more than two years successfully entered space 50 minutes after taking off from Las Cruces, New Mexico, before returning to Earth.
Martin Marietta Materials (MLM) – Martin Marietta has signed an agreement to purchase HeidelbergCement’s California and Arizona assets for $ 2.3 billion in cash. The building materials company will acquire 17 quarries and two cement plants as part of the deal.
Cabot Oil & Gas (COG) – Cabot and rival oil and natural gas producer Cimarex Energy (XEC) agreed to merge shares valued at $ 7.35 billion. Cimarex shareholders will receive just over four Cabot shares for each share they now own. Cabot shares rose 1.9% in premarket trading, while Cimarex shares rose 0.4%.
CureVac (CVAC) – According to a company spokeswoman quoted in a German newspaper, the drug maker is working to expand production capacity for its Covid-19 vaccine in anticipation of European Union approval in June.
Moderna (MRNA) – Moderna has signed a vaccine manufacturing agreement with Samsung Biologics of South Korea that will enable the company to launch its Covid-19 vaccine in markets outside the United States from the third quarter. Its shares rose 1.6% before entering the market.
AMC Entertainment (AMC) – AMC’s largest shareholder, the Chinese Dalian Wanda Group, sold most of its stake in the cinema operator last week. A filing by the Securities and Exchange Commission shows that Dalian Wanda sold 30.4 million shares for approximately $ 427 million. AMC shares rose 1.5% in the pre-market.
GlaxoSmithKline (GSK) – The UK government is concerned about a possible acquisition of GlaxoSmithKline, according to the Times of London newspaper, and has asked officials to monitor the situation. The concern was sparked by an investment by activist hedge fund Elliott Management in Glaxo.
HP Inc. (HPQ) – The computer and printer manufacturer’s shares rose 2.3% in the pre-market after Citi upgraded from neutral to buy. Citi expects HP to beat Street’s consensus guidance and improve its outlook when it reports later this week as it capitalizes on bullish PC fundamentals.
Coinbase (COIN) – Coinbase will continue to be monitored as the operator of the largest US cryptocurrency exchange continues to be volatile and reflect the sharp fluctuations in digital currencies. After a newly initiated buy rating at Goldman Sachs, which notes the company’s leading position in a rapidly growing market, it rose 2.3% in premarket trading.
Beyond Meat (BYND) – The plant-based meat alternative maker received a double upgrade from underperform to outperform at Jefferies, based on an expected recovery in organic growth and a recovery in foodservice channels. Beyond Meat increased its pre-market promotion by 3.7%.
Dollar General (DG) – The discounter’s stocks fell 1.4% in the pre-market after Bank of America Securities downgraded the stock from neutral to underperform. The company notes that a history of rising gasoline prices has put Dollar General’s shares under pressure and that increased use of gas station convenience stores could hurt customer traffic.
Palantir Technologies (PLTR) – The data analytics platform company won a $ 32.5 million contract to provide its software to the Air Force and the Space Force. Their shares rose 1% in premarket trading.