Check out some of the biggest movers in the premarket:
Electronic Arts (EA) – Shares of the video game maker rose 2.5% in the premarket after Puck News reported that the company was actively seeking a buyer or merger partner. EA has reportedly held talks with Walt Disney (DIS), Apple (AAPL), and Amazon (AMZN), among others.
VMWare (VMW) – Shares of the cloud computing company rose 21.3% in premarket trading after multiple reports that it is in advanced talks to be bought by chipmaker Broadcom (AVGO). The two companies are said to be discussing a cash-and-stock deal that could happen soon, according to people familiar with the matter. Broadcom lost 4.3%.
GameStop (GME) – GameStop rose 3.5% in premarket trading after the video game retailer launched a digital wallet for cryptocurrencies and NFTs.
HP Inc. (HPQ) – The computer and printer maker was downgraded to “neutral” from “buy” at Citi, on the basis of declining demand for PCs in the near to medium term. HP fell 2.7% in pre-market action.
Pfizer (PFE) – Pfizer and partner BioNTech (BNTX) said three doses of their Covid-19 vaccine provided strong protection for children under 5 years of age, according to preliminary data. BioNTech was up 1.8% in pre-market trading, while Pfizer was up 0.2%.
Motorola Solutions (MSI) – Morgan Stanley has upgraded shares of the communications equipment and software company from equal-weight to overweight, showing some favorable trends, including an increase in demand for video surveillance. Motorola Solutions gained 2.5% in the premarket.
Emergent BioSolutions (EBS) – Shares of the biopharmaceutical company rose 11.1% in premarket trading amid mounting concerns about the spread of monkeypox. Emergent is a supplier of smallpox vaccine, which can be used to protect against monkeypox.
Autodesk (ADSK) – Shares of the design software company fell 3.9% in premarket action after RBC lowered its price target for the stock from $255 a share from $295 a share. RBC said the consensus on Street’s earnings may be too high and Autodesk needs to establish consistency in its results to boost investor confidence.
Boeing (BA) – Boeing rose 1% in premarket trading after its Starliner spacecraft successfully docked at the International Space Station this weekend.
Corning (GLW) – Shares of the materials science company fell 2.6% in the premarket after Citi lowered it to “neutral” from “buy,” citing lower demand for PCs and tablets impacting the optical Corning’s components business. Citi also notes uncertainty about the recovery in demand for premium and large televisions.