Take a look at the businesses making headlines earlier than the bell:
Altimeter Development (AGC) — Southeast Asia’s ride-hailing large Seize is going public through a SPAC merger with Altimeter Development, valued at almost $40 billion. Seize says it intends to checklist on the Nasdaq beneath ticker image “GRAB” following the deal’s completion. Altimeter’s shares surged almost 9% in premarket buying and selling.
Johnson & Johnson (JNJ) — Shares of the drugmaker fell 2.8% within the premarket after the Meals and Drug Administration mentioned it’s asking states to pause administering J&J’s Covid-19 vaccine after six individuals within the U.S. developed a uncommon dysfunction involving blood clots. The FDA mentioned the advice is “out of an abundance of warning.” Moderna shares popped greater than 7% in early buying and selling on the information.
FedEx (FDX) — Shares of the delivery firm rose in premarket buying and selling about KeyBanc Capital Markets upgraded FedEx to “chubby.” The Wall Road agency additionally set a $350 per share worth goal on FedEx. KeyBanc mentioned FedEx can nonetheless develop quantity even with the return to in-person buying.
JetBlue (JBLU), Spirit Airways (SAVE) — Shares of the airways popped in premarket buying and selling after Susquehanna Monetary Group upgraded JetBlue and Spirit Airways to “optimistic.” “With a restoration in U.S. home air journey underway, we wish to personal the low-cost carriers,” the agency’s analyst advised shoppers.
Reserving Holdings (BKNG) — The journey firm gained in premarket buying and selling after Jefferies upgraded Reserving to “purchase” from “maintain” on a rebound in world journey. The primary additionally hiked its 12-month worth goal to $2,800 per share from $2,300 per share.
3M (MMM) — Shares of the manufacturing large edged decrease within the premarket after Deutsche Financial institution added a “catalyst name” promote on 3M. The Wall Road agency mentioned the inventory has curiously outperformed in latest weeks regardless of Deutsche Financial institution’s expectation for a miss on upcoming earnings.
NortonLifeLock (NLOK) — The safety firm dipped in premarket buying and selling after Financial institution of America initiated the inventory with an “underperform” score and a $19 per share worth goal. “Final 12 months’s COVID-related spike in demand might unwind within the subsequent few quarters and the corporate might return to unfavourable developments in churn and subscriber additions, negatively impacting the income development,” the agency mentioned.
Honeywell (HON) — Shares of Honeywell rose in premarket commerce after Deutsche Financial institution put a catalyst name “purchase” score on the inventory. The agency mentioned buyers are unenthusiastic about Honeywell, regardless of a restoration taking maintain.
Bristol-Myers Squibb (BMY) — Shares of the pharmaceutical firm rose within the premarket about Truist upgraded Bristol-Myers Squibb to “purchase” from “maintain” with a $74 per share worth goal. The Wall Road agency mentioned it likes Bristol-Myers Squibb’s drug pipeline.
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