Check out some of the biggest drivers in the front market:
Tesla (TSLA) – Tesla delivered nearly 185,000 vehicles in the first quarter, a record for the company and more than 10,000 on consensus forecasts. The stock jumped 7.6% in the forex market.
GameStop (GME) – The video game retailer has announced plans to sell up to 3.5 million shares in an ‘on the market’ offer, with plans to use the proceeds to strengthen its balance sheet and its ongoing transformation speed up. GameStop also said sales for the first nine weeks of the current quarter increased 11% from the same period a year ago. GameStop tumbled 15.1% in pre-trading.
Roblox (RBLX) – The shares of the video game development platform rose 3.5% in market action when Goldman started the cover with a ‘buy’ rating and Morgan Stanley started the cover with a ‘buy’ rating. rating of ‘overweight’. Both companies cite robust growth prospects, and Goldman notes that Roblox can outsource the development costs of games to creators.
Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), Carnival (CCL) – The Centers for Disease Control and Prevention has updated its guidelines for the resumption of American sailing vessels, although it has not set a specific date for resumption. Royal Caribbean achieved 1.5% in the pre-market, with Norwegian with 2.5% and Carnival with 2.2%.
Johnson & Johnson (JNJ) – J&J is taking over production at a plant owned by contract maker Emergent Biosolutions (EBS) after a quality control problem destroyed a group of J & J’s Covid-19 vaccines. The Wall Street Journal reports that production of AstraZeneca (AZN)’s Covid-19 vaccine will be relocated elsewhere to accommodate the switch. Separately, J&J expanded a trial of its Covid-19 vaccine to include 12- to 17-year-olds.
Tribune Co. (TPCO) – Tribune has received a $ 680 million takeover bid – worth $ 16.50 per share – from Stewart Bainum, chairman of Choice Hotels, and Swiss billionaire Hansjorg Wyss. It stands at the top of a $ 635 million deal the newspaper publisher previously agreed with hedge fund Alden Global Capital.
Pinterest (PINS) – According to the New York Times, image sharing website operator is in talks to buy photo app company VSCO. A potential transaction price could not be determined, but VSCO was recently valued at $ 550 million. Pinterest shares rose 1.6% in the forex market.
General Motors (GM), Ford Motor (F) – Wells Fargo has started covering both carmakers with “overweight” ratings, suggesting Ford’s faster turnaround under new CEO Jim Farley and GM’s leading position in electric vehicles and connections. GM shares added 1.7% in pre-market performance, while Ford rose 1.5%.
Pioneer Natural (PXD) – Pioneer Natural has entered into an agreement to buy competitively owned privately owned shale producer DoublePoint Energy for approximately $ 6.4 billion, continuing the consolidation trend in the shale industry. Pioneer shares fell 4.4% in pre-trading.
Moderna (MRNA) – Moderna has been approved by the Food and Drug Administration to fill Covid-19 vaccination vials with up to 15 doses, compared to the previous 10 doses. Moderna said it expects to start shipping 15 bottles of the dose within a few weeks, and its stock has risen 1.5% in market trading.
Morgan Stanley (MS) – Morgan Stanley has said it will increase its dividend once the Federal Reserve has lifted restrictions. The Fed is scheduled to announce the next round of the bank’s stress test results in June. Morgan Stanley rose 1.4% in the futures market.
Planet Fitness (PLNT) – The fitness chain plans to add up to 100 new locations in the coming financial year, which will add to the current total of more than 2,100. Chief Financial Officer Tom Fitzgerald told The Wall Street Journal that the company also wants to increase investment in its app.
Lamb Weston (NB) – Food service company shares gained 1.9% in the futures market after Bank of America Securities upgraded it to ‘buy’ from ‘neutral’ and raised the price target to $ 100 per share from $ 84 per share . According to BofA, the company is ready to approach the business levels from before Covid, with demand improving.