Check out some of the biggest movers in the premarket:
AstraZeneca (AZN) – The drug manufacturer’s share of premarket trading fell 2.9% after an independent regulatory body told U.S. health officials that the company may have provided incomplete efficacy data from its Covid-19 vaccine trial. The Data Safety Monitoring Board said it wanted AstraZeneca to work with her to review the data to ensure it is accurate and up to date.
ViacomCBS (VIAC) – ViacomCBS will raise $ 3 billion from stock offerings following a recent stock price surge. The media company will sell $ 2 billion in B common stock and $ 1 billion in mandatory convertible preferred stock. Media companies with streaming services – such as the recently rebranded Paramount + – have increased their spending on new content. Viacom fell 5.3% in premarket action.
SunRun (RUN) – Shares of the solar company rose 2.5% in premarket trading after Goldman Sachs upgraded it to “buy” from “neutral,” indicating accelerated growth and valuation. SunRun gained 3.2% on Monday after being rated “positive” in its new coverage at Susquehanna Financial.
Microsoft (MSFT) – Microsoft is in talks to buy the video game chat community Discord for more than $ 10 billion, according to people familiar with the matter and have spoken to Bloomberg. However, one person familiar with the matter said that Discord would go public rather than sell itself.
Boeing (BA) – Boeing struck a deal for a $ 5.28 billion two-year revolving credit agreement, more than the $ 4 billion the jet manufacturer was originally looking for. Boeing shares fell 1% in the premarket.
Baidu (BIDU) – Baidu made its Hong Kong Stock Exchange debut after a secondary listing that raised $ 3.1 billion for the China-based internet company. Baidu’s US shares fell 2.3% in premarket trading.
Bilibili (BILI) – According to people with direct knowledge of the case who spoke with Reuters, Bilibili is set to raise $ 2.6 billion after pricing a secondary listing in Hong Kong. The price for the online video site operator’s stock is said to be 2.6% lower than Monday’s close in US trading.
Tencent Music Entertainment (TME) – Tencent Music reported quarterly results slightly below Wall Street forecasts. The music streaming service also announced a multi-year licensing agreement with Warner Music and the creation of a joint venture music label with Warner in China. Tencent shares fell 3.2% in premarket trading.
Peloton (PTON) – Peloton recently bought three companies in a wave of acquisitions, according to a Bloomberg report. The fitness equipment manufacturer’s acquisitions related to artificial intelligence, wearables and hardware.
Apollo Global (APO) – Shares of the private equity firm surged 1.4% in premarket action after Citi upgraded its stock from “buying” from “neutral.” Citi said Apollo’s recent corporate governance moves should reduce headlines and other risk factors.
Discovery (DISCA) – Discovery lost 3% in premarket trading after UBS downgraded the media company’s stock to “sell” from “neutral,” noting the valuation after the stock nearly quadrupled in the past 12 months. UBS said the risk / reward profile is more challenging at current levels.
Pfizer (PFE) – CEO Albert Bourla told The Wall Street Journal that the drug company would expand its mRNA vaccine business to target other viruses and pathogens outside of the coronavirus. Bourla said the company has a decade of experience working with Germany’s BioNTech (BNTX) on the Covid-19 vaccine and is now ready to move forward on its own.