Stocks making the biggest moves premarket: AstraZeneca, Wayfair, Alibaba and more

Stock Market

In this article

A paramedic prepares doses of AstraZeneca vaccine for patients at a walk-in COVID-19 clinic inside a Buddhist temple in the Smithfield suburb of Sydney on August 4, 2021.
Saeed Khan | AFP | Getty Images

Check out the companies making headlines in early trading.

AstraZeneca — Shares of the British pharmaceutical company gained more than 2.7% in premarket trading after the company reported positive results for its drug Dato-DXd in a trial for treating a common type of breast cancer.

Wayfair — Shares gained more than 2% after Bernstein upgraded home merchandiser to market perform from underperform. The firm cited improving revenue growth and margin commentary.

Chinese e-commerce stocks  —  U.S. listed shares of Alibaba and PDD Holdings added nearly 4% in premarket trading, while rose 3.3%. Bloomberg reported that China is considering easing rules that cap foreign investment in domestic publicly traded companies.  

Seagen — Shares of the biotech firm rose nearly 4% in premarket trading after the company reported positive topline results from a clinical trial of treatment for patients with previously untreated bladder cancer. The results showed the treatment improved both overall survival and progression-free survival, compared with chemotherapy.

Deere — The tractor manufacturer fell around 1% after Canaccord Genuity downgraded shares to hold from buy, citing slowing growth for large agricultural equipment and normalizing dealer inventories.  

Arm Holdings — Shares of the chip designer added 1.3% during premarket trading. The stock jumped nearly 25% during its public trading debut but is now trading just above its $51 IPO price. Susquehanna initiated a neutral rating on the company in a Friday note.

Charter Communications – Shares gained about 2% after Wells Fargo upgraded Charter Communications to an overweight rating, saying that its mobile roll-to-pay offering and rural growth should contribute to accelerating EBITDA and free cash flows.

Ralph Lauren — The clothing brand’s shares ticked up nearly 1% after Raymond James initiated an overweight rating in a note Thursday evening. Analyst Rick Patel forecasts 20% upside potential from where shares closed on Thursday. 

Yeti — Shares gained about 3% in the premarket. Jefferies on Friday called Yeti a “best-in-class” favorite in drinkware, even as the market expands to new entrants.

— CNBC’s Pia Singh, Sarah Min, Samantha Subin, Tanaya Macheel, Brian Evans and Michelle Fox contributed reporting

Products You May Like

Articles You May Like

Lightning devs must ‘wake up’ and fix security bugs, not please VCs: Bitcoin dev
KyberSwap DEX hacker sends an on-chain message: Be nice, or else
Price analysis 11/27: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, LINK
Mortgage demand jumps to six-week high as interest rates continue to drop
65% plunge in Web3 Games in ’23 but ‘real hits’ coming, $26M NFL Rivals NFT: Web3 Gamer

Leave a Reply

Your email address will not be published. Required fields are marked *