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Take a look at some of the biggest players in the pre-market:
Palantir Technologies (PLTR) – Shares of the business analyst firm fell 6.2% in the pre-market after reporting a quarterly loss, although revenue exceeded Street’s estimates due to an increase new contracts.
AutoNation (AN) – The auto retailer broke estimates by 42 cents per share, with quarterly profit of $ 2.43 per share. Revenues also exceeded estimates as demand remains high amid tight stocks. AutoNation announced the addition of $ 1 billion to its share buyback program, and its shares are up 1.9% in pre-market trading.
MicroStrategy (MSTR) – The business analytics company continues to benefit from its substantial investment in bitcoin, which is now approaching the $ 50,000 mark. Its shares jumped an additional 5% on pre-market.
Constellation Brands (STZ) – Beer brewer AB InBev (BUD) is suing Constellation over its use of the Corona brand name for its tough seltzer. AB InBev argues that an agreement between the two in 2013 regarding the brand name did not allow Constellation to use it for products other than beer. AB InBev shares are up 3% in pre-market trading.
CoreLogic (CLGX) – CoStar Group (CSGP) has submitted a new offer to acquire rival real estate data provider CoreLogic worth $ 95.76 per share in stock, following CoreLogic’s Feb 4 deal for the acquisition by private equity firms Stone Capital and Insight Partners for $ 80 per share in cash. CoStar made their new offer in a letter to CoreLogic’s board, saying they were stunned to learn that CoreLogic had accepted the deal on their previous offer of $ 86.30 per share in stock. CoreLogic grew 5.5% in pre-market trading, while CoStar was down 3.4%.
Southwest Airlines (LUV) – The airline said it continued to experience a significant year-over-year impact on passenger demand due to Covid-19, although it expected improvement from February to March. Southwestern stocks climbed 2.2% pre-market.
CVS Health (CVS) – CVS reported quarterly profit of $ 1.30 per share, 6 cents per share above estimates. Revenue also exceeded Wall Street forecasts, helped in part by Covid-19 tests and vaccinations at its pharmacies. Its shares rose 2.4% in pre-market trading.
Progressive (PGR) – The insurer has entered into an agreement to acquire protective insurance (PTVCB) for $ 23.30 per share in cash, compared to Protective’s close on Friday at $ 15.01 per share. Protective stocks rose about 47% in pre-market trade.
Apple (AAPL) – Automaker Nissan has said it is not in talks with Apple about a possible autonomous vehicle joint venture. A Financial Times report said the two companies briefly discussed the matter, but those discussions failed.
Facebook (FB) – Facebook is in the process of designing a smartwatch that would have messaging capabilities and provide health and fitness information, according to tech website The Information, citing people familiar with the matter. Sales of the device would start next year, according to the report.
Nvidia (NVDA) – The Federal Trade Commission has opened an investigation into the graphics chipmaker’s deal to buy UK-based chip designer Arm Holdings for $ 40 billion. The deal is said to have been the subject of protests to regulators by Alphabet (GOOGL), Qualcomm (QCOM) and Microsoft (MSFT). Nonetheless, shares of Nvidia rose 1.2% in pre-market share.
Bristol-Myers Squibb (BMY) – Bristol and its French partner Sanofi (SNY) will pay Hawaii more than $ 834 million in a case over the anticoagulant drug Plavix. The state had accused drugmakers of failing to warn non-white patients of the risks associated with the drug. Bristol and Sanofi said the decision was inconsistent with the evidence and promised to appeal.
Toyota Motor (TM) – The automaker will suspend production at nine factories in Japan following an earthquake that hit the northeastern region of Japan last week. Toyota did not specify the impact on production. Its shares are down 1.1% in pre-market trading.
Cintas (CTAS) – The uniforms and construction services provider gave a better-than-expected earnings outlook for the current quarter, saying it now has a clearer picture of the impact of Covid-19 on its activities and that its balance sheet remains strong.
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