Check out the companies making headlines before the bell:
Moderna (MRNA) – The drug maker’s shares surged 7.3% in the premarket on news that the stock would be included in the S&P 500 as of July 21st. It will replace Alexion Pharmaceuticals, which is being acquired by AstraZeneca (AZN).
Didi Global (DIDI) – Shares of the China-based ride-hailing company slid 5.5% in premarket action after Didi was the subject of an onsite cybersecurity review from officials of at least 7 different government departments.
BioNTech (BNTX) – A study published in the medical journal The Lancet showed that BioNTEch’s mRNA-based Covid-19 vaccine produced 10 times more antibodies than the inactivated virus-based vaccine produced by China’s Sinovac. BioNTech rose 1.7% in premarket trading.
AMC Entertainment (AMC), GameStop (GME) – So-called “meme stocks” continued their wide swings in the premarket, with AMC up 4.6% and GameStop jumping 3.9%. The movie theater operator’s stock rose for just the second time in ten sessions Thursday, while the videogame retailer is riding a five-session losing streak and its stock has been down in nine of the past ten trading days.
Carnival (CCL), Royal Caribbean (RCL), Norwegian Cruise Line (NCLH) – Cruise stocks rose in the premarket after Canada said it would allow large cruise ships to resume visiting the country in November. Carnival added 1.2%, Royal Caribbean gained 1.1% and Norwegian was up 1.7%.
Intel (INTC) – Intel is exploring a deal to buy fellow semiconductor maker GlobalFoundries, according to people familiar with the matter who spoke to the Wall Street Journal. Such a transaction could potentially value GlobalFoundries at about $30 billion, although there is no guarantee a deal will be finalized. Intel rose 1% in premarket trading.
FuboTV (FUBO) – Shares of the live-sports video streaming company surged 4.7% in the premarket after its Fubo Gaming subsidiary struck a market access agreement with casino operator Cordish Companies for its planned mobile Fubo Sportsbook in Pennsylvania.
Molson Coors (TAP) – The beer brewer announced it would resume paying quarterly dividends, with a planned payout of 34 cents per share payable on September 17 to shareholders of record as of August 30. Molson Coors had suspended its dividend last May as it dealt with the financial impact of the pandemic.
Lordstown Motors (RIDE) – The electric truck maker said it is under investigation by federal prosecutors in New York, who are looking into Lordstown’s vehicle pre-orders as well as its merger with special purpose acquisition company DiamondPeak Holdings last October. Lordstown lost 1% in premarket trading.
Textron (TXT) – The stock was added to the “Conviction Buy” list at Goldman Sachs, which points to a strengthening market for business jets and consensus estimates that it feels are too low.
Honest Company (HNST) – Shares of Honest Company rose 2.4% in the premarket after the maker of personal care products was upgraded to “buy” from “hold” at Loop Capital Markets. Loop said shares are now at an attractive level after a recent pullback.
Live Nation (LYV) – The live entertainment producer was rated “buy” in new coverage at Goldman Sachs, which said Live Nation is poised to benefit from an expected surge in concert activity. Live Nation added 2.6% in premarket trading.