Illumina, Cara Therapeutics, Snap and more

Take a look at some of the major engines on the premarket:

Illumina (ILMN): Illumina issued preliminary guidance for the current quarter and full year that exceeded current analyst estimates. The life sciences company said its projected results are being driven by record orders in its gene sequencing and related businesses. Illumina jumped 9.2% in premarket stocks.

Cara Therapeutics (CARA) – Cara Therapeutics shares rose 11.4% pre-market on news that the biopharmaceutical company’s shares will be added to the S&P SmallCap 600 Index, starting Wednesday.

Snap (SNAP): Snap shares gained 1.5% in pre-market share following an improvement in Atlantic Equities, which now rates Snapchat parent shares “overweight” versus “neutral” previously . The firm cites valuation as a key factor, as well as Snap’s transformation from a messaging-centric platform to a broad content platform.

Mudrick Capital Acquisition (MUDS) – The special-purpose acquisition company is taking Topps, best known for baseball cards and Bazooka gum, public in a merger that values ​​the company at $ 1.3 billion. Topps president and former Disney CEO Michael Eisner will transfer his entire stake to the new company. Mudrick soared 18.5% in premarket trading.

Credit Suisse (CS) – The bank will take a hit of $ 4.7 billion from its deals with hedge fund Archegos Capital Management, and announced the departure of Chief Risk Officer Lara Warner and Chief Investment Banker Brian Chin. Credit Suisse also launched an investigation into losses related to Archegos.

Moderna (MRNA) – Moderna reached an agreement with contract manufacturer Catalent (CTLT) to nearly double the production of Moderna’s Covid-19 vaccine at Catalent’s plant in Bloomington, Indiana, according to The Wall Street Journal.

Phillips 66 (PSX) – The power producer said it will report a larger-than-expected loss in the first quarter, stemming from severe winter weather in the central and southern states of the United States that paralyzed its petrochemical operations on the Gulf Coast. Phillips fell 1.3% in premarket trading.

Southwest Airlines (LUV) – Southwest removed 209 pilots from voluntary license, with plans to return them to active duty on June 1. The move anticipates a rebound in travel demand in the summer.

Tesla (TSLA) – Tesla shares are only worth $ 150 a share, according to Roth Capital senior research analyst Craig Irwin. Irwin called Tesla a “minor player” in the US and European markets, and told CNBC that people wrongly assume that Tesla has no competition.

Niu Technologies (NIU) – The Beijing-based company reported sales of 149,649 e-scooters during its first quarter, compared with 40,160 in the same quarter a year earlier. Niu Technologies shares rose 1% in premarket trading.

BlackRock (BLK) – Credit Suisse named the asset management firm one of the “best options” and said it expects “strong organic growth” from BlackRock derived from an attractive business combination.

GameStop (GME) – The video game retailer’s shares fell 1% in pre-market trading after volatile trading on Monday following news that GameStop planned to issue up to 3.5 million shares.

Signet Jewelers (SIG) – Jewelry retailer announced an agreement to purchase Rocksbox jewelry subscription services for an undisclosed amount.


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