Check out some of the most important premarket engines:
BowX Acquisition (BOWX): The special-purpose acquisition company will make public the WeWork-based office-sharing company in a $ 9 billion deal, including debt. Starwood Capital, Fidelity Management and others participate in the deal as so-called “PIPE” investors. BowX rose 3.6% in the premarket.
Ford Motor (F): The automaker will stop producing its popular F-150 van over the weekend at a Michigan plant, due to global semiconductor shortages.
MSG Entertainment (MSGE) – The owner of the New York Knicks and Rangers, as well as Madison Square Garden and other venues, buys MSG Networks (MSGN) on a stock exchange deal. The transaction brings the two entities together after a split was announced in 2018 and made official last year. MSG Networks fell 4.9% in premarketing stock.
JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC): These and other banking stocks are being monitored after the Federal Reserve announced plans to lift restrictions on bank dividends and amortization of actions. This will happen after the June stress tests, if banks show they can hold enough capital. JPMorgan gained 1.1% in premarket trading, with Bank of America 1.5%, Wells Fargo 1.3% and Citi 1.3%.
Annaly Capital Management (NLY): Annaly reached an agreement to sell its commercial real estate business to investment firm Slate Asset Management for $ 2.333 billion. The real estate financing company expects the deal to be completed by the end of the third quarter. Annaly gained 1% in the premarket.
Altria (MO): The tobacco producer’s shares gained 1.3% in pre-market trading after Jefferies upgraded it to “buy” to “hold”. The firm said Altria’s opportunities in so-called RRPs (low-risk products) are undervalued.
Microsoft (MSFT) – Microsoft is now in advanced talks to buy the Discord messaging platform for $ 10 billion or more, according to the Wall Street Journal. Bloomberg had reported earlier this week that the two sides had spoken, but that there was no imminent agreement and that Discord was leaning towards an initial public offering.
Root Inc. (ROOT): Root rose 3.9% in premarket trading after a 4.9% increase on Thursday. According to Citron Research founder Andrew Left, who claims it is a “disruptive technology company”, the car insurer is “misunderstood”. Root has seen its stock price halve since its initial public offering in October.
Uber (UBER), Lyft (LYFT) – A Massachusetts judge has ruled that a challenge can be filed for the classification of drivers as independent contractors by Uber and Lyft. The companies engaged in the practice of travel had tried to withdraw the case filed by the state attorney general. The judge did not rule on whether drivers should be classified as independent contractors or as employees with a right to benefits. Uber rose 1.1% in premarket trade.
Nio (NIO) – Nio will suspend production of electric vehicles at its plant in Hefei, China, due to global semiconductor shortages. The suspension will begin on Monday and last five days, prompting Nio to reduce its first-quarter delivery forecast to 19,500 vehicles, from 20,000 to the previous 20,500. Nio fell 5% in premarketing stock.
Progress Software (PRGS): Progress Software reported quarterly earnings of 91 cents per share, 13 cents per share above estimates. Revenue also exceeded forecasts. The enterprise application software company also raised its full-year outlook. Progress Software gained 2.6% in premarket trading.
Zoom Video (ZM) – Deutsche Bank started coverage of the video messaging platform company with a rating of “retention”, based mainly on the valuation after the increase in shares in 2020. what it calls products ” best in class. “