Let’s take a look at some of the biggest movers in the former market:
Illumina (ILMN)-Illumina has issued preliminary guidance for the current quarter and full year, which exceeded current analyst estimates. The life sciences company said that record orders for its gene sequencing and related businesses have driven its expected results. Illumina rose 9.2% in pre-market trading.
Cara Therapeutics (CARA)-Cara Therapeutics’ stock jumped 11.4% before the market, after news that the biopharmaceutical company̵
Snap (SNAP)-After the Atlantic stock upgrade, Snap’s stock rose 1.5% in premarket trading, and the stock now ranks Snapchat’s parent company’s stock as “overweight” compared to previously “neutral.” The company used valuation as a key factor and transformed Snap from a message-centric platform to a broad content platform.
Mudrick Capital Acquisition (MUDS)-A special purpose acquisition company is going public as Topps. The company is known for baseball cards and bazooka gum. The company is valued at $1.3 billion. Topps chairman and former Disney CEO Michael Eisner (Michael Eisner) will invest all of his shares in the new company. Mudrick gained 18.5% in premarket trading.
Credit Suisse (CS)-The bank will suffer a loss of US$4.7 billion from a transaction with hedge fund Archegos Capital Management and announced the departure of Chief Risk Officer Lara Warner (Lara Warner) and Head of Investment Banking Brian Chin. Credit Suisse also conducted an investigation into losses related to Archegos.
“Moderna” (MRNA)-According to the Wall Street Journal, Moderna has reached an agreement with contract manufacturer Catalent (CTLT) to nearly double the production of Moderna Covid-19 vaccine at its Bloomington plant in Catalent, Indiana.
Phillips 66 (PSX)-The energy producer said that the loss in the first quarter will exceed expectations due to severe winter weather in the central and southern states of the United States that paralyzed petrochemical operations along the Gulf Coast. Phillips fell 1.3% in premarket trading.
Southwest Airlines (LUV)-Southwest Airlines voluntarily took vacations from 209 pilots and plans to resume active service on June 1. This move is motivated by anticipation of a rebound in summer travel demand.
Tesla (TSLA)-Roth Capital (Roth Capital) senior research analyst Craig Irwin (Craig Irwin) said Tesla’s stock price is only $150 per share. Irving called Tesla a “secondary player” in the U.S. and European markets, and told CNBC that people mistakenly believed that Tesla had no competition.
Niu Technologies (NIU)-The Beijing-based company reported that its sales of electric scooters in the first quarter were 149,649 units, compared with 40,160 units in the same period last year. Niu Technologies’ stock rose 1% in premarket trading.
BlackKock-Credit Suisse named the asset management company a “top choice”, saying it expects BlackRock’s “strong organic growth” to stem from an attractive business portfolio.
GameStop (GME)-The video game retailer’s stock fell 1% after Monday’s premarket volatility, after news that GameStop plans to issue 3.5 million shares.
Signet Jewelers (SIG) – The jewelry retailer announced a deal to purchase the jewelry subscription service Rocksbox at an undisclosed price.