Stocks making the biggest moves in the premarket: Walgreens, Didi, CureVac & more
Take a look at some of the biggest movers in the premarket:
Walgreens (WBA) – Walgreens shares rallied 2.8% in the premarket after the drug store operator reported quarterly profit of $1.51 per share, beating the consensus estimate of $1.17 a share. Revenue topped forecasts as well, helped by a rebound in prescription volumes. The company also raised its full-year forecast.
Didi (DIDI) – Didi will be added to the FTSE global equity indexes as of July 8, following the China-based ride-hailing company's U.S. initial public offering and Wall Street debut Wednesday. Did surged 6.9% in the premarket.
CureVac (CVAC) – The German drugmaker said a final study analysis showed its Covid-19 vaccine was 48% effective, little changed from the initial 47% assessment two weeks ago. Shares plunged 12.6% in the premarket.
McCormick (MKC) – McCormick beat estimates by 7 cents a share, with quarterly earnings of 69 cents per share. The condiment and spice maker also reported better-than-expected revenue and raised its full-year forecast, helped by elevated at-home demand and a rebound in the company's commercial business. McCormick gained 1.3% in premarket trading.
Atotech (ATC) – The specialty chemicals company agreed to be acquired by industrial solutions company MKS Instruments (MKSI) in a $5.1 billion cash-and-stock deal. Atotech was initially higher on the news but then fell 1% in premarket action.
Micron Technology (MU) – Micron beat estimates by 16 cents a share, with quarterly earnings of $1.88 per share. The chip maker's revenue topping Wall Street forecasts as well. Micron also gave upbeat current-quarter guidance, with a shortage of chips and strong demand keeping prices high. Separately, Micron sold a Utah semiconductor factory to Texas Instruments (TXN) for $900 million in cash. Micron fell 2.3% in the premarket.
Boeing (BA) – Boeing named Brian West as chief financial officer, replacing the retiring Greg Smith. West is a former General Electric (GE) executive who was most recently CFO at financial information provider Refinitiv.
GlaxoSmithKline (GSK) – Activist investor Elliott confirmed that it had taken a significant stake in GlaxoSmithKline, and urged the drugmaker to consider the sale of its consumer health-care business.
Pacific Gas & Electric (PCG) – PG&E is asking California regulators for a $3.8 billion rate hike, in order to pay for improvements that would strengthen prevention against deadly fires. Investigators have blamed the utility's equipment for starting some of the most destructive fires in the state in recent years.
Nio (NIO), XPeng (XPEV) – The China-based electric vehicle makers both rose in premarket trading after reporting their latest delivery numbers. Nio delivered 8,083 electric vehicles in June, up 116% from a year earlier, while XPeng delivered 6,565 vehicles, a more than seven-fold increase. Nio jumped 3.2% in the premarket, while XPeng was up 4.7%.
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