Take a look at some of the biggest moving agents in the premarket:
Illumina (ILMN) – Illumina has published current quarterly and year-round preliminary guidance that has exceeded current analyst estimates. The life sciences company said its projected results are driven by record orders in its gene sequencing and related business. Illumina increased by 9.2% in premarket stock.
Cara Therapeutics (CARA) – Cara Therapeutics shares rose 11.4% premarket following news that the biopharmaceutical company’s shares will be added to the S&P SmallCap 600 index, which will take effect on Wednesday.
Snap (SNAP) – Snap shares gained 1.5% in the premarket share after an update to Atlantic Equities, which now rates Snapchat parents’ shares as “overweight” compared to the previous “neutral”. The company cites evaluation as a key factor, as well as the transformation of Snap from a messaging-centric platform to a broad content platform.
Mudrick Capital Acquisition (MUDS) – Special Purchasing Company makes public Topps – best known for its baseball cards and Bazooka gum – in a merger that values the company at $ 1.3 billion. Topps President and former Disney CEO Michael Eisner will launch his entire action in the new company. Mudrick rose 18.5% in premarket trading.
Credit Suisse (CS) – The bank will receive $ 4.7 billion in success from its dealings with Archegos Capital Management and announced the departure of Lara Warner, director of risk and chief investment officer Brian Chin. Credit Suisse has also launched an investigation into losses related to Archegos.
Moderna (MRNA) – Moderna has entered into an agreement with contract manufacturer Catalent (CTLT) to nearly double production of the Coverna-19 Moderna vaccine at Catalent’s Bloomington plant in Indiana, according to The Wall Street Journal.
Phillips 66 (PSX) – The energy producer said it would report a higher-than-expected loss in the first quarter, caused by severe winter weather in the central and southern US states that paralyzed its Gulf Coast petrochemical operations. Phillips fell 1.3% in premarket trading.
Southwest Airlines (LUV) – Southwest recalled 209 pilots on voluntary leave, with the intention of bringing them back into active service on June 1. The move comes in anticipation of a summer return of travel demand.
Tesla (TSLA) – Tesla stock is worth only $ 150 per share, according to Roth Capital chief research analyst Craig Irwin. Irwin called Tesla only a “minor player” in the US and European markets, telling CNBC that people are wrong to assume that Tesla has no competition.
Niu Technologies (NIU) – The Beijing-based company reported sales of 149,649 sales of electric scooters in the first quarter, up from 40,160 last quarter. Shares of Niu Technologies increased by 1% in premarket trading.
BlackRock (BLK) – Credit Suisse called the asset management firm a “top choice”, saying it expects “robust organic growth” from BlackRock, which results from an attractive business mix.
GameStop (GME) – The shares of the video game retailer fell 1% in premarket trading after a volatile session on Monday, after the news that GameStop intends to issue up to 3.5 million shares.
Signet Jewelers (GIS) – The jewelry retailer has announced a deal to buy Rocksbox jewelry subscription services for an undisclosed amount.