Latest News

Stocks making the biggest moves in the premarket: J&J, Emergent BioSolutions, Micron Technology & more

0

Take a look at some of the biggest movers in the premarket:

Johnson & Johnson (JNJ) – J&J said a batch of its Covid-19 vaccine that came from a Baltimore factory did not meet quality standards and will not be distributed. The company said the problem stemmed from a quality issue for a vaccine ingredient made by Emergent BioSolutions (EBS). J&J fell 1.1% premarket, while Emergent BioSolutions tumbled 8.5%.

Pfizer (PFE) – New data released by the drugmaker and partner BioNTech (BNTX) showed 91% efficacy for its Covid-19 vaccine after six months. Pfizer edged higher by 0.3% in premarket trading, while BioNTech was up 1.1%.

CarMax (KMX) – The auto retailer reported quarterly earnings of $1.27 per share, with revenue essentially in line with forecasts. CarMax also announced it would acquire the remaining part of Edmunds that it didn’t already own, in a cash-and-stock deal valuing the auto information provider at $404 million. CarMax shares slid 3.5% in premarket action.

Micron Technology (MU) – The computer chip maker reported quarterly profit of 98 cents per share, beating consensus estimates by 3 cents a share. Revenue came in slightly above Wall Street forecasts. The company also issued an upbeat forecast amid elevated demand for semiconductors. Separately, The Wall Street Journal reported Micron is exploring a deal for Kioxia that could value the Japanese chip maker at around $30 billion. Micron shares jumped 4.5% in the premarket.

Abbott Laboratories (ABT) – The Food and Drug Administration approved Abbott’s Covid-19 rapid antigen test for over-the-counter sales and use at home for people without current Covid symptoms. The retail price is still undetermined, but a company spokeswoman told Reuters the tests will be sold to retailers for less than $10 each. At the same time, the FDA also approved an at-home test for Covid-19 made by diagnostics company Quidel (QDEL).

Exxon Mobil (XOM) – The energy giant released data in a Securities and Exchange Commission filing that points to the possibility of the company’s first profit in five quarters. Raymond James analyst Justin Jenkins said the data point to a profit of $2.55 billion, or 60 cents per share, with Exxon benefiting from higher oil and gas prices.

FuboTV (FUBO) – The live streaming sports TV platform announced an agreement to carry all non-nationally televised Chicago Cubs games this season. FuboTV shares jumped 4.8% in premarket action.

Nio (NIO) – The China-based electric vehicle maker said it delivered 7,257 vehicles in March, a 373% increase over the same month last year. Nio surged 5.8% in premarket trading.

Sherwin-Williams (SHW) – The paint maker’s 3-for-1 stock split – announced on March 2 – is effective as of today. It’s the first time Sherwin-Williams has split its stock since 1997. Sherwin-Williams gained 1.2% in the premarket.

Taiwan Semiconductor (TSM) – The semiconductor maker will invest $100 billion over the next three years to increase manufacturing capacity at its plants, in a move to deal with increased demand and a worldwide shortage of chips. Taiwan Semi rose 2.1% in premarket action.

Op-ed: Former SEC chair Jay Clayton on what his grandparents taught him about investing

Previous article

Weekly jobless claims higher than expected despite signs of labor market improvement

Next article

You may also like

Comments

Leave a reply

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

More in Latest News