Take a look at some of the biggest drivers in the pre-market:
Hilton Grand Vacations (HGV) – The timeshare company posted a larger-than-expected loss in the last quarter, while revenue was also below Wall Street forecasts. Hilton Grand Vacations said the pandemic created a challenging environment, but said 85% of its properties are open and functioning. Its shares fell 2.3% in the pre-market.
NRG Energy (NRG) – The energy supplier reported better-than-expected profit and revenue in its last quarter and also said that the financial impact of the extreme climate in Texas should be within NRG’s current guidance range. The company’s shares jumped 5.5% in the pre-market.
Perrigo (PRGO) – Perrigo shares initially jumped 4.1% in the pre-market share after the pharmaceutical company announced an agreement to sell its Generic Rx Pharmaceuticals business to private equity firm Altaris Capital for $ 1.55 billion cash and other considerations. The gains disappeared, however, after Perrigo reported lower than expected earnings in its last quarter, as sales fell.
Johnson & Johnson (JNJ) – J&J rose 2.1% in the premarket after its Covid-19 vaccine received emergency use authorization from the Food and Drug Administration over the weekend, followed by an endorsement by the Control and Prevention Centers of Diseases. Government officials say vaccine deliveries are expected to begin on Tuesday.
Berkshire Hathaway (BRK.B) – Berkshire reported a 23% increase in fourth quarter earnings to $ 35.8 billion, helped by an increase in the value of Berkshire’s stock market share. Berkshire also bought back nearly $ 25 billion in shares during 2020, with CEO Warren Buffett explaining in his annual letter that the change has increased shareholder value, while still leaving plenty of money for other opportunities that might arise. Berkshire Class B shares rose 2.1% before the market.
Twitter (TWTR) – Twitter rose 1% in pre-market trading after it announced its intention to sell $ 1.25 billion in convertible notes due in 2026, subject to market conditions.
Walmart (WMT) – The retailer reduced its minimum charge of $ 35 for express delivery service by two hours. However, the $ 35 minimum still applies to regular delivery, sidewalk pickup and Walmart + delivery services. Walmart shares rose 1% in the pre-market.
L3Harris Technologies (LHX) – The defense contractor struck a deal to sell its military training division to Canadian aerospace company CAE (CAE) for $ 1.05 billion. The deal will enhance CAE’s defense business.
Logitech (LOGI) – Logitech’s shares fell 1.5% ahead of the market after it said operating revenue for fiscal 2022 would be between $ 750 million and $ 800 million, down from $ 1.1 billion that it expects to report for fiscal year 2021. Logitech has seen a boom in demand for devices such as mice and computer keyboards due to the pandemic, with more people working and attending school at home.
Twilio (TWLO) – Twilio is in talks to invest up to $ 750 million in messaging company Syniverse Technologies, according to people familiar with the matter who spoke to The Wall Street Journal. They said the investment expected by the cloud communications company would value Syniverse – currently owned by the private equity firm Carlyle Group (CG) – at $ 2 billion to $ 3 billion. Twilio rose 2.3% in pre-market share.
AstraZeneca (AZN) – The pharmaceutical company sold its stake in Moderna (MRNA) for more than $ 1 billion, according to the London Times. The newspaper said the sale came after Moderna’s stock soared after approval for its Covid-19 vaccine, although the exact timing was unclear. Moderna’s shares rose 1.8% in the pre-market.
Vector Acquisition (VACQ) – The special purpose acquisition company will open Rocket Lab’s space transport capital through a merger agreement that values Rocket Lab at $ 4.1 billion. The deal is expected to close during the second quarter. Vector’s shares increased 17.1% in pre-market trading.
Wayfair (W) – The home goods retailer’s shares rose 2.1% in the pre-market after Truist Securities raised its stock to “buy” from “hold”, saying it sees a better picture for long-term profitability and a trajectory of faster growth.
Catalent (CTLT) – The pharmaceutical technology company has faced problems in the production of vaccines, according to a report by the Financial Times. Catalent fills vaccine vials for Johnson & Johnson and Moderna, and the report states that problems with automation technology mean the vials must be checked manually.
Citigroup (C) – Citigroup’s shares rose 2.1% in the pre-market, with Jane Fraser taking over as CEO of the bank today, becoming the first woman to run a major US bank.