Check out some of the biggest drivers in the front market:
Illumina (ILMN) – Illumina has issued preliminary guidance for the current quarter and full year that exceeds current analysis estimates. The life science company said the projected results are driven by record orders in the gene sequence and related ventures. Illumina jumped 9.2% in action ahead of the market.
Cara Therapeutics (CARA) – Cara Therapeutics ‘shares rose 11.4% in the futures market following the news that the biopharmaceuticals’ share will be added to the S&P SmallCap 600 index, which will take effect on Wednesday.
Snap (SNAP) – Snap shares rose 1.5% in pre-market performance following an upgrade at Atlantic Equities, which now rates the Snapchat parent’s share of ‘overweight’ compared to the previous ‘neutral’. The firm cites valuation as a key factor, as well as Snap’s transformation from a messaging platform to a broad content platform.
Mudrick Capital Acquisition (MUDS) – The Special Purpose Acquisition Company is taking Topps, best known for baseball tickets and Bazooka gum, in a $ 1.3 billion merger. Topps chairman and former Disney CEO Michael Eisner will add his entire stake in the new company. Mudrick rose 18.5% in pre-trading.
Credit Suisse (CS) – The bank will recover $ 4.7 billion from its transactions with hedge fund Archegos Capital Management, and has announced the departure of chief risk officer Lara Warner and chief investment officer Brian Chin. Credit Suisse has also launched an investigation into the losses associated with Archegos.
Moderna (MRNA) – Moderna has signed an agreement with contract manufacturer Catalent (CTLT) to nearly double the production of Moderna’s Covid-19 vaccine at Catalent’s Bloomington, Indiana, according to The Wall Street Journal.
Phillips 66 (PSX) – The energy producer has said it will report a larger-than-expected loss in the first quarter due to severe winter weather in the central and southern U.S. states that is paralyzing its petrochemical operations on the Gulf Coast has. Phillips fell 1.3% in the pre-trade.
Southwest Airlines (LUV) – Southwest has recalled 209 pilots on voluntary leave, with plans to re-employ them on June 1. The move comes in anticipation of a summer rebound in travel demand.
Tesla (TSLA) – Craes Irwin, senior research analyst at Roth Capital, is worth just $ 150 a share. Irwin called Tesla only a ‘minor player’ in the US and European markets and told CNBC that people mistakenly assume that Tesla has no competition.
Niu Technologies (NIU) – The Beijing-based company reported 149,649 e-scooter sales during the first quarter, compared to 40,160 in the previous quarter. Niu Technologies’ shares rose 1% in market trading.
BlackRock (BLK) – Credit Suisse called the asset management business a ‘top choice’ and said it expects ‘robust organic growth’ from BlackRock due to an attractive business mix.
GameStop (GME) – The video game retailer’s share fell 1% in trading after a volatile session on Monday following the news that GameStop was planning to issue up to 3.5 million shares.
Signet Jewelers (SIG) – The jewelry retailer has announced a deal to buy Rocksbox for an unknown amount.