Take a look at some of the biggest movers in the premarket:
CureVac (CVAC) – CureVac shares slumped 46.2% in the premarket after the German drug maker reported disappointing results from a study on its experimental Covid-19 vaccine. The treatment was 47% effective in a clinical study compared to more than 90% for other mRNA-based vaccines from Moderna (MRNA) and Pfizer (PFE).
Novavax (NVAX), BioNTech (BNTX) – According to the CureVac news, Novavax gained 3.4% in the premarket while BioNTech gained 2.6%. BioNTech’s Covid vaccine – developed in collaboration with Pfizer – is already approved for use in the United States, while Novavax reported its vaccine to be 90% effective in a recent study.
The Honest Company (HNST) – The household products maker posted an unexpectedly high loss in the first quarter as a publicly traded company, despite sales being better than analysts expected. Sales increased due to the pandemic-related demand for disinfection products. In pre-market trading, the share lost 8.3%.
Tenet Healthcare (THC) – The hospital operator’s shares rose 3.5% in the premarket after announcing the sale of five Florida hospitals and associated medical practices to Steward Health Care for approximately $ 1.1 billion.
Lennar (LEN) – Lennar earned $ 2.65 per share in the most recent quarter, beating the consensus estimate of $ 2.36 per share. Sales also exceeded forecasts. The home builder is grappling with higher production costs and a labor shortage, but the shortage of homes for sale in the U.S. helped drive prices soaring and Lennar’s profit margins up significantly year over year.
Dell Technologies (DELL) – Dell has been selected by Dish Network (DISH) to build key pieces of the 5G network that the satellite TV operator is building in the United States. Dish will roll out 5G service in Las Vegas later this year and plans to cover 70% of the US with its network by mid-2023.
Fisker (FSR) – Fisker shares rose 2.8% in the pre-market after the electric vehicle maker signed a long-term manufacturing agreement with Magna International (MGA). Magna will build the Fisker Ocean electric SUV from November 2022.
Aon (AON), Willis Towers Watson (WLTW) – The US Department of Justice has sued insurance company Aon to block its deal to buy consultancy firm Willis Towers Watson for $ 35 billion. The department said the merger could eliminate competition in several different markets. Aon and Willis Towers said the move shows a lack of understanding of their businesses, customers and the markets in which they operate.
Akamai Technologies (AKAM) – A variety of financial institutions, governments and airlines experienced brief website downtimes early Thursday. Some of the outages were related to a failure of the web services company Akamai Technologies, according to people familiar with the matter who spoke to Bloomberg. Akamai said it is aware of the problem and is working to restore service as soon as possible. In pre-trading hours, stocks fell 1.5%.
O’Reilly Automotive (ORLY) – The auto parts dealer has signed a new $ 1.8 billion revolving loan agreement with a banking group led by JPMorgan Chase (JPM).
Jack In The Box (JACK) – The restaurant chain was rated “outperform” in RBC Capital’s new coverage, reflecting the lower valuation of the stock compared to its peers and positive prospects for new restaurant growth.