Check out some of the most important premarket engines:
Palantir Technologies (PLTR): The shares of the business analysis company sank 6.2% in the pre-market after reporting a quarterly loss, although revenue exceeded street estimates by a jump in the new contracts.
AutoNation (AN): The auto retailer surpassed estimates by 42 cents per share, with a quarterly profit of $ 2.43 per share. Revenue was also above estimates, as demand remains high amid tight inventories. AutoNation announced the addition of $ 1 billion to its stock repurchase program, and its shares are up 1.9% in premarket trading.
MicroStrategy (MSTR): The business analytics firm continues to benefit from its significant investment in bitcoins, which is now approaching $ 50,000. Its shares jumped another 5% in the premarket.
Constellation Brands (STZ): AB InBev Brewery (BUD) sues Constellation for its use of the Corona brand for its hard seltzer. AB InBev argues that a 2013 agreement between the two involving the brand did not allow Constellation to use it for non-beer products. AB InBev shares increase 3% in premarket trading.
CoreLogic (CLGX) – CoStar Group (CSGP) has unveiled a new bid to acquire rival real estate data provider CoreLogic worth $ 95.76 per share, following CoreLogic’s agreement on Feb. 4 to acquire the private equity firms Stone Capital and Insight Partners for $ 80 per share in cash. CoStar made its new offer in a letter to CoreLogic’s board, saying it was surprised to learn that CoreLogic had accepted this deal on its previous offer of $ 86.30 per share. CoreLogic rose 5.5% in premarket trading, while CoStar fell 3.4%.
Southwest Airlines (LUV) – The airline said it continues to experience a significant impact year after year on passenger demand due to the Covid-19, though it said it expects an improvement from February to March. Shares in the Southwest rose 2.2% in the pre-market.
CVS Health (CVS): CVS reported quarterly earnings of $ 1.30 per share, 6 cents per share above estimates. Revenue also exceeded Wall Street forecasts, helped in part by Covid-19 testing and vaccines at its pharmacies. Its shares rose 2.4% in premarket trading.
Progressive (PGR): The insurer signed an agreement to acquire Protective Insurance (PTVCB) for $ 23.30 per share in cash, compared to the closing of $ 15.01 per share of Protective on Friday. Protective actions increased by approximately 47% in premarket trade.
Apple (AAPL) – Automaker Nissan said it is not in talks with Apple about a possible joint venture. A Financial Times report said the two companies briefly discussed the matter, but those talks faltered.
Facebook (FB): Facebook is designing a smartwatch that includes messaging features and provides information about health and fitness, according to technology website The Information, which cites people familiar with the subject. According to the report, sales of the device would begin next year.
Nvidia (NVDA) – The Federal Trade Commission has opened an investigation into the agreement of the graphics chip maker to buy Arm Holdings, a chip designer based in the UK, for up to $ 40 billion. According to reports, the deal had been the subject of protests from regulators by Alphabet (GOOGL), Qualcomm (QCOM) and Microsoft (MSFT). Still, Nvidia shares rose 1.2% in premarketing stock.
Bristol-Myers Squibb (BMY) – Bristol and French partner Sanofi (SNY) will pay more than $ 834 million in Hawaii in a case related to the anticoagulant drug Plavix. The state had accused drug manufacturers of warning patients that they were not targeted by the risks associated with the drug. Bristol and Sanofi said the sentence was inconsistent with the evidence and vowed to appeal.
Toyota Motor (TM) – The automaker will suspend production at nine factories in Japan after an earthquake hit the northeastern region of Japan last week. Toyota did not specify the impact on production. Its shares fell 1.1% in premarket trading.
Cintas (CTAS) – The uniformed and construction services provider offered a better-than-expected current quarter earnings outlook, saying it now has a clearer picture of the impact of Covid-19 on its business and that its balance sheet remains solid.