Stocks making the biggest moves premarket: MRNA, KMX, WHR

0
172
Stocks making the biggest moves premarket: MRNA, KMX, WHR

Check out the companies making headlines ahead of Tuesday.

CarMax — The car dealer’s shares rose 7% on better-than-expected quarterly earnings. CarMax earned 44 cents a share, beating a Refinitiv forecast of 24 cents a share.

Newmont — The stock fell 2.9% in early morning trading after news that Newmont had raised its asking price in its bid to acquire Australia-based company Newcrest Mining for $19.5 billion, 16% above Newmont’s original bid lies. If the deal goes through, it would further secure Newmont’s position as the world’s largest gold producer.

upstart — Upstart fell about 2% after JPMorgan initiated coverage of credit stocks with an underweight rating, citing a deteriorating credit environment.

jacuzzi — Stocks rose more than 2% after Goldman Sachs upgraded Whirlpool to buy from neutral. The bank said the device stock is cheap and could gain more than 20%.

Modern – The biotech giant slipped 4.9% after the company said it was delaying its flu vaccine due to a lack of registered cases in a late-stage study. The news comes after a company spokesman told CNBC on Monday that Moderna hopes to have a line of new vaccines for cancer, heart disease and other yet-to-be-confirmed conditions on the market by 2030.

Lending Club — The lending platform rose 4.8% after JPMorgan initiated an overweight stance on the stock. The bank said LendingClub’s recent sell-off was likely too harsh as investors grew nervous about financial institutions and the potential for a recession.

bumblebee – Shares of the matchmaking firm rose 1% after Baird began reporting on Bumble and gave it an outperform rating, noting that the stock has underperformed the S&P 500 this year and is now at a “relatively cheap price.” “ Rating is traded. The company has given Bumble a price target of $23, which suggests the stock will gain more than 23%.

array technologies — Shares of the solar technology company rose 2% after Wolfe Research began coverage of Array with an outperform rating. Wolfe said in a note to customers that Array should benefit from the expansion of utility-scale solar power production.

WW International – Shares plunged more than 28% after Goldman Sachs said the weight-loss company could triple in value. “WW’s subscriber base and earning power have shrunk, but we believe a catalyst for a turnaround has emerged with its new on-ramp solution for anti-obesity drugs,” Goldman said.

– CNBC’s Brian Evans, Alex Harring, Sarah Min, Samantha Subin and Jesse Pound contributed coverage.