Tesla, GameStop, Roblox and more

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

Tesla (TSLA) – Tesla delivered nearly 185,000 vehicles during the first quarter, a record for the company and more than 10,000 above consensus forecasts. The stock jumped 7.6% in the premarket.

GameStop (GME) – The video game retailer announced plans to sell up to 3.5 million shares in an “on-market” offering, with plans to use the proceeds to strengthen its balance sheet and accelerate its ongoing transformation. GameStop also said that sales for the first nine weeks of its current quarter were up 11% over the same period last year. GameStop fell 15.1% in premarket operations.

Roblox (RBLX) – Shares of the game development platform company rose 3.5% in pre-market share as Goldman began hedging with a “buy” rating and Morgan Stanley initiated hedging with a rating of “overweight”. Both firms cite strong growth prospects, and Goldman noted that Roblox may outsource game development costs to creators.

Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), Carnival (CCL): The Centers for Disease Control and Prevention updated their guide to resuming US cruises, although they did not set a specific date for the resumption . Royal Caribbean gained 1.5% in the premarket, Norwegian was up 2.5% and Carnival was up 2.2%.

Johnson & Johnson (JNJ) – J&J will take over manufacturing at a plant owned by contract manufacturer Emergent Biosolutions (EBS) after a quality control issue ruined a batch of J & J’s Covid-19 vaccine. The Wall Street Journal reports that to accommodate the change, AstraZeneca’s (AZN) Covid-19 vaccine production will be relocated elsewhere. Separately, J&J expanded a trial of its Covid-19 vaccine to include children ages 12 to 17.

Tribune Co. (TPCO) – Tribune received a $ 680 million takeover bid, worth $ 16.50 per share, from Choice Hotels Chairman Stewart Bainum and Swiss billionaire Hansjorg Wyss. That tops a $ 635 million deal the newspaper’s editor had previously agreed to with hedge fund Alden Global Capital.

Pinterest (PINS) – The operator of the image-sharing website is in talks to buy photo app company VSCO, according to The New York Times. A potential bid price could not be determined, but VSCO was recently valued at $ 550 million. Pinterest shares were up 1.6% on the previous market.

General Motors (GM), Ford Motor (F) – Wells Fargo began coverage of both automakers with “overweight” ratings, pointing to Ford’s quicker turnaround under new CEO Jim Farley and the leadership position of GM in electric vehicles and connectivity. Shares of GM added 1.7% in premarket stock, while Ford’s were up 1.5%.

Pioneer Natural (PXD) – Pioneer Natural has reached an agreement to buy rival private shale producer DoublePoint Energy for approximately $ 6.4 billion, continuing the trend of consolidation in the shale industry. Pioneer shares fell 4.4% in premarket trading.

Moderna (MRNA): Moderna received approval from the Food and Drug Administration to fill vials of the Covid-19 vaccine with up to 15 doses, compared to the previous 10 doses. Moderna said it expects to start shipping the 15-dose vials in a few weeks, and its shares were up 1.5% in premarket trading.

Morgan Stanley (MS) – Morgan Stanley said it would increase its dividend as soon as the Federal Reserve lifts the restrictions. The Fed is scheduled to release the next round of bank stress test results in June. Morgan Stanley rose 1.4% in the premarket.

Planet Fitness (PLNT) – The fitness chain plans to add up to 100 new locations in the next fiscal year, adding to its current total of more than 2,100. Chief Financial Officer Tom Fitzgerald told The Wall Street Journal that the company also wants to boost investment in its app.

Lamb Weston (LW) – Shares in the foodservice company rose 1.9% in pre-market after Bank of America Securities upgraded them to “buy” from “neutral” and raised the target price to $ 100 per share from $ 84 per share. BofA said the company is poised to approach pre-Covid business levels, with demand improving.


Source link