Check out some of the most important premarket engines:
Dish Networks (DISH): Satellite TV provider rose 3.2% in premarket trade after reporting quarterly earnings of $ 1.24 per share, well above the consensus estimate of 75 cents per share. Revenue also exceeded estimates. Dish lost 133,000 net pay-TV subscribers during the quarter, compared to a drop of 194,000 a year earlier.
Boeing (BA): Boeing shares fell 3.2% in the pre-market after an engine on a United Airlines (UAL) Boeing 777 crashed. U.S. regulators have ordered the inspection of aircraft using the same Pratt & Whitney engine that crashed on United flight, and Boeing has recommended that airlines suspend the use of these aircraft until inspections are completed.
Cooper Tire (CTB) – Cooper Tire shares jumped 13.1%, following news it had agreed to be acquired by rival Goodyear Tire (GT) for $ 2.8 billion in cash and shares. The deal is worth $ 54.36 per share for Cooper Tire shareholders, 24% above Cooper’s closing price on Friday. Shares of Goodyear fell 5%.
Starboard Value Acquisition (SVAC): The special-purpose acquisition company announced an agreement to merge with data center company Cyxtera Technologies, in a $ 3.4 billion transaction, including debt assumed. The current owners will launch their stakes in the combined company and Starboard’s Value Acquisition shares jumped 12.1% in premarket trading.
Principal Financier (PFG): Activist investor Elliott Management has been involved in Principal Financier, according to a Bloomberg report, and plans to push for changes to the life insurer. The hedge fund is said to be close to an agreement to get seats on the board and will launch a strategic review. Major financial stocks gained 6.2% in pre-market trading.
People’s United Financial (PBCT): The bank agreed to be bought by M&T Bank (MTB) in a $ 7.6 billion securities deal. The combined bank will have about $ 200 billion in assets. Shares of People’s United jumped 6.2% ahead of the market.
Discovery Communications (DISCA): The cable channel company earned 76 cents per share during the fourth quarter, 4 cents per share above estimates. Revenue also exceeded Wall Street forecasts and Discovery said its Discovery + streaming service was about to have 12 million subscribers by the end of the month.
Tesla (TSLA): Tesla has earned about $ 1 billion in paper profits from its investments in bitcoins, according to a note from Wedbush analyst Dan Ives ’research. He said Tesla is on track to earn more from Bitcoin than from selling electric vehicles throughout 2020. Tesla fell 2.3% in premarket trade.
Zillow (Z): Zillow has released a “virtual tour” feature for the listed properties, linking images and videos to floor plans. The real estate website operator is now available in 25 regions of the United States and is an alternative to pre-recorded video tours. Zillow shares lost 1.9% in premarketing shares.
Kohl’s (KSS) – A group of privately held companies now controls a 9.5% stake in the retailer, and The Wall Street Journal reports that the group is trying to take control of the board. The group is the same one that came together to push the change to retailer Bed Bath & Beyond (BBBY). Kohl’s rose 7.4% ahead of the market.
GameStop (GME): GameStop shares jumped 10.9% in premarket trading, following news that Keith Gill, who became famous on Reddit’s WallStreetBets forum, doubled his stake in video game retailer up to 100,000 shares.
Upholstery (TPR): The luxury goods retailer rose 1.2% in pre-market shares after Credit Suisse outperformed shares to “outperform” them from “neutral”. Credit Suisse said the handbag category is poised for a strong rebound as blockages dwindle, and also said Tapestry’s investments in new growth channels over the past year are bearing fruit.