Take a look at some of the biggest movers in the pre-sales market:
Southwest Airlines (LUV)-The airline cancelled more than 1,800 flights over the weekend, citing bad weather, air traffic control issues and personnel shortages. Southwest Airlines denied the speculation that its high cancellation rate compared with other airlines was due to employee protests against the Covid-19 vaccine authorization. Southwest Airlines fell 2.8% in pre-market trading.
Robinhood (HOOD)-After detailing the increased risks of cryptocurrency trading regulation and possible new rules surrounding order flow payments in a document filed by the US Securities and Exchange Commission, the trading platform’s stock fell 2.1% in pre-market trading .
SoFi Technologies (SOFI)-After Morgan Stanley began to cover the “overweight” rating, the fintech company’s stock rose 3.1% in premarket trading, calling it a “strong revenue growth story” because of it Gained market share in the field of consumer finance.
Apple (AAPL)-Apple asked the judge to postpone changes to its App Store, which would require it to allow developers to bypass Apple’s in-app payment system. These changes stem from a case involving Epic Games, the creator of “Fortnite”, which is scheduled to take effect on December 9, but Apple requested that its appeal take effect first.
Merck (MRK)-drugmaker and partner Ridgeback Biotherapeutics announced that it has submitted an emergency use authorization application to the US Food and Drug Administration for its oral Covid-19 treatment of monoprevir. Prior to this, positive research results were announced earlier this month.
Starbucks (SBUX)-After Deutsche Bank raised its stock from “hold” to “buy”, the coffee chain’s share price rose 1% before the market, citing the “unbelievable” U.S. momentum and China The prospect of continued growth in units.
Aspen Technology (AZPN)-This industrial software manufacturer announced the merger of two software businesses with Emerson Electric (EMR) in a transaction valued at approximately US$11 billion. The value of this cash plus stock transaction is approximately $160 per share. Aspen Technology holders exchange $87 in cash per share and 0.42 shares of the combined company in exchange for each share they currently own. Since reports of negotiations between the two companies first surfaced, Aspen Technology has gained nearly 13% in the past two trading days.
Deere & Co. (DE)-Workers from a heavy equipment manufacturer represented by the American Automobile Workers’ Federation rejected the provisional contract agreement. Union members said that based on Deere’s strong profits, they hoped for higher salary and benefits than those proposed in the rejected six-year agreement.
Xiaopeng Motors (XPEV)-The China-based electric vehicle manufacturer said that six years after the company was founded, its production has exceeded 100,000 vehicles. Shares rose 1.4% before the market, while Chinese competitor Weilai (NIO) rose 1.7%.
ConocoPhillips (COP)-The energy producer’s stock rating was downgraded from Goldman Sachs’ “buy” to “Neutral.” Goldman Sachs cited the valuation of this move. The stock has risen 88% this year and is up 1.2% before the market.
Cleveland-Cliffs (CLF)-The steel producer announced the acquisition of scrap iron processor Ferrous Processing and Trading for approximately US$775 million. Its stock price rose 2.1% in pre-market trading.