Check out some of the largest moving companies on the pre-market:
Dish Networks (DISH) – The satellite television operator gained 3.2% in premarket trading after posting quarterly earnings of $ 1.24 per share, well above the consensus estimate of 75 cents per share. Sales were also above estimates. Dish lost 133,000 net pay-TV subscribers in the quarter, compared to a decline from 194,000 a year earlier.
Boeing (BA) – Boeing shares fell 3.2% in the pre-market after an engine failed in a United Airlines (UAL) Boeing 777 jet. U.S. regulators have ordered inspections of jets using the same Pratt & Whitney engine that failed on the United flight, and Boeing has recommended airlines suspend the use of those jets until the inspections can be completed.
Cooper Tire (CTB) – Cooper Tire shares rose 13.1% after it was announced it was acquired by rival Goodyear Tire (GT) for $ 2.8 billion in cash and stock. The deal is valued at $ 54.36 per share for Cooper Tire shareholders, 24% above Cooper’s closing price on Friday. Goodyear shares fell 5%.
Starboard Value Acquisition (SVAC) – The special-purpose acquisition company announced a $ 3.4 billion merger agreement with data center company Cyxtera Technologies, including assumed debt. The current owners will take over their stakes in the combined company and Starboard Value Acquisition shares rose 12.1% in premarket trading.
Principal Financial (PFG) – Activist investor Elliott Management has acquired a stake in Principal Financial, according to a Bloomberg report, and plans to push changes at the life insurer. The hedge fund is said to be close to a deal to win directorship and will initiate a strategic review. The Principal Financial shares gained 6.2% in premarket trading.
People’s United Financial (PBCT) – The bank agreed to be bought by M&T Bank (MTB) in an all-stock deal valued at $ 7.6 billion. The combined bank will have assets of approximately $ 200 billion. People’s United shares rose 6.2% ahead of the IPO.
Discovery Communications (DISCA) – The cable channel company earned 76 cents a share in the fourth quarter, 4 cents a share above estimates. Revenue also surpassed Wall Street forecasts, and Discovery announced that the Discovery + streaming service should have 12 million subscribers by the end of the month.
Tesla (TSLA) – Tesla has made paper profits of around $ 1 billion on its Bitcoin investments, according to a research report by Wedbush analyst Dan Ives. He said Tesla is well on its way to making more of Bitcoin than electric vehicle sales for all of 2020. Tesla fell 2.3% in premarket trading.
Zillow (Z) – Zillow has introduced a “virtual tour” feature for listed properties that links pictures and videos to floor plans. The operator of the real estate website is now available in 25 US regions and is an alternative to recorded video tours. The Zillow share lost 1.9% in the pre-market business.
Kohl’s (KSS) – A group of private equity firms 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 of directors. The group is the same that came together to push for change at retailer Bed Bath & Beyond (BBBY). Kohl’s rose 7.4% ahead of the market.
GameStop (GME) – GameStop shares rose 10.9% in premarket trading after it was revealed that Keith Gill, famous on Reddit’s WallStreetBets forum, doubled his stake in the video game retailer to 100,000 shares.
Tapestry (TPR) – The luxury goods retailer gained 1.2% before entering the market after Credit Suisse raised its shares from “neutral” to “outperform”. Credit Suisse said the handbag category is poised for a strong rebound as lockdowns ease and that Tapestry’s investments in new growth channels over the past year are paying off.