Dish Networks, Boeing, Cooper Tire and more

Take a look at some of the biggest moving agents in the premarket:

Dish Networks (DISH) – The satellite TV provider grew 3.2% in premarket trading after reporting quarterly earnings of $ 1.24 per share, well above the consensual estimate of 75 cents per share. Revenues also exceeded estimates. Dish lost a net of 133,000 paid TV subscribers in that quarter, down from 194,000 a year earlier.

Boeing (BA) – Boeing shares fell 3.2% in the premarket after an engine failed on a United Airlines (UAL) Boeing 777. U.S. regulators have ordered inspections of the aircraft using the same Pratt & Whitney engine that failed on United flight, and Boeing has advised airlines to suspend the use of these aircraft until inspections are completed.

Cooper Tire (CTB) – Cooper Tire shares rose 13.1% following news that it had agreed to be bought by rival Goodyear Tire (GT) for $ 2.8 billion in cash and shares. The transaction is worth $ 54.36 per share for Cooper Tire shareholders, 24% above Cooper’s closing price on Friday. Goodyear shares fell 5%.

Starboard Acquisition (SVAC) – The special purpose acquisition company has announced a merger with data center Cyxtera Technologies in a $ 3.4 billion transaction, including debt. The current owners will run their shares in the combined company, and Starboard Value Acquisition shares increased by 12.1% in premarket trading.

Principal Financial (PFG) – Activist investor Elliott Management has taken a stake in Principal Financial, according to a Bloomberg report, and intends to make changes to the life insurer. It is said that the hedge fund is close to a transaction to get seats on the board and will launch a strategic review. The main financial shares gained 6.2% in premarket trading.

People’s United Financial (PBCT) – The bank agreed to be bought by M&T Bank (MTB) through a $ 7.6 billion share transaction. The combined bank will have assets of about $ 200 billion. Shares of People’s United rose 6.2% premarket.

Discovery Communications (DISCA) – The cable channel company earned 76 cents a share for the fourth quarter, 4 cents a share above estimates. Revenue also exceeded Wall Street forecasts, and Discovery said its Discovery + streaming service is on track to have 12 million subscribers by the end of the month.

Tesla (TSLA) – Tesla has made paper profits of about $ 1 billion on its bitcoin investments, according to a research note by Wedbush analyst Dan Ives. He said Tesla is on track to make more from bitcoin than it did from selling electric vehicles throughout 2020. Tesla fell 2.3 percent in premarket trading.

Zillow (Z) – Zillow has launched a “virtual tour” feature for listed properties, linking images and videos to floor plans. The real estate site operator is now available in 25 US regions and is an alternative to pre-recorded video tournaments. Zillow shares lost 1.9% in premarket stock.

Kohl’s (KSS) – A group of private equity firms now controls a 9.5% stake in the retailer, and The Wall Street Journal reports that the group is trying to take control of the board. The group is the same one that has joined forces to make changes at the Bed Bath & Beyond retailer (BBBY). Kohl’s grew 7.4% premarket.

GameStop (GME) – GameStop shares rose 10.9% in premarket trading after news that Keith Gill – who became famous on the RedSit forum WallStreetBets – doubled his stake in the video game retailer to 100,000 shares.

Upholstery (TPR) – The luxury retailer rose 1.2% in premarket stock after Credit Suisse upgraded its stock to “exceed” from “neutral”. Credit Suisse said the handbag category is poised for a strong recovery as bottlenecks dwindle, and said Tapestry’s investment in new growth channels has paid off in the past year.

.Source