GameStop, AMC, Beyond Meat and others

GameStop, AMC, Beyond Meat and others

Try the businesses making headlines earlier than the bell:

GameStop (GME) – The videogame retailer – one of many so-called “meme” shares – misplaced one other 3.1% within the premarket following an almost 14% tumble yesterday to its lowest shut since March. GameStop had seen its inventory slide final week after reporting a wider quarterly loss.

AMC Leisure (AMC) – The movie show operator’s inventory slid 6% in premarket buying and selling, after extending a shedding streak to three days with a greater than 15% plummet Monday. Final week, CEO Adam Aron offered all his holdings in AMC whereas CFO Sean Goodman offered the majority of his AMC inventory.

Beyond Meat (BYND) – The maker of plant-based meat substitutes noticed its inventory soar 4.8% in premarket motion, placing it able to interrupt a 3-day shedding streak. Piper Sandler upgraded the inventory to “neutral” from “underweight,” saying a nationwide launch at McDonald’s (MCD) may occur inside lower than 3 months.

Pfizer (PFE) – The drugmaker stated a remaining research of its antiviral Covid-19 tablet confirmed it to be 89% efficient in stopping hospitalizations and deaths in high-risk sufferers, just like what earlier research had proven. It added that the drug seems to be efficient in opposition to the omicron variant.

Tesla (TSLA) – Tesla shares slid 1.5% in premarket buying and selling after CEO Elon Musk offered extra of his holdings to cowl tax payments generated by the exercising of inventory choices. Tesla has dropped greater than 20% from its all-time excessive and its total market worth has fallen again underneath the $1 trillion mark.

Weibo (WB) – Weibo slid 5.3% within the premarket after the China-based social networking firm was fined 3 million yuan (about $471,000) by regulators, who stated a few of Weibo’s accounts and content material violated varied legal guidelines and rules.

Terminix World (TMX) – The pest management firm’s shares soared 21.9% within the premarket after it agreed to be acquired by British rival Rentokil for $6.7 billion in money and inventory.

Alcoa (AA) – The aluminum producer’s shares rallied 4.2% in premarket buying and selling following information that the inventory can be added to the S&P Midcap 400 Index previous to the opening of buying and selling subsequent Monday. It replaces Hill-Rom Holdings, which is being acquired by Baxter Worldwide (BAX).

Dell Applied sciences (DELL) – The pc maker’s inventory was downgraded to “in line” from “outperform” at Evercore, which notes Dell’s almost 60% appreciation this yr forward of what it sees as a moderating private laptop market. Dell misplaced 1.7% within the premarket.

Ralph Lauren (RL) – The attire maker slid 3% within the premarket after a Goldman Sachs double downgrade to “sell” from “buy” on the thesis that model momentum indicators are fading.

Neogen (NEOG) – The meals security firm’s inventory surged 12.1% in premarket buying and selling after it introduced a deal to mix itself with the meals security division of 3M (MMM).

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