Take a look at some of the biggest drivers in the pre-market:
Palantir Technologies (PLTR) – Shares in the business analytics company plunged 6.2% in the premarket after reporting a quarterly loss, although revenue has exceeded Street’s estimates of a jump in new contracts.
AutoNation (AN) – The auto retailer beat estimates by 42 cents a share, with quarterly earnings of $ 2.43 per share. Revenue was also above estimates, as demand remains high amid tight inventories. AutoNation announced the addition of $ 1 billion to its share buyback program, and its shares rose 1.9% in the premarket.
MicroStrategy (MSTR) – The business analytics firm continues to benefit from its substantial investment in bitcoin, which is now close to the $ 50,000 mark. Its shares jumped another 5% in the pre-market.
Constellation Brands (STZ) – AB InBev (BUD) is suing Constellation for using the Corona brand in its seltzer. AB InBev claims that a 2013 agreement between the two involving the brand did not allow Constellation to use it for products other than beer. AB InBev’s shares rose 3% in pre-market trading.
CoreLogic (CLGX) – CoStar Group (CSGP) has submitted a new offer to acquire rival real estate data provider CoreLogic in the amount of $ 95.76 per share in shares, following CoreLogic’s February 4 agreement to be acquired by investment firms. private capital Stone Capital and Insight Partners for $ 80 per share in cash. CoStar made its new offer in a letter to CoreLogic’s board, saying it was surprised to learn that CoreLogic had accepted the deal instead of its previous offer of $ 86.30 per share in stock. CoreLogic rose 5.5% in the pre-market, while CoStar fell 3.4%.
Southwest Airlines (LUV) – The airline said it continues to have a significant impact year on year in passenger demand due to Covid-19, although it said it expects an improvement from February to March. Southwest shares were up 2.2% in the pre-market.
CVS Health (CVS) – CVS reported quarterly earnings of $ 1.30 per share, 6 cents per share above estimates. The prescription also surpassed Wall Street’s predictions, helped in part by Covid-19 testing and vaccinations at its pharmacies. Its shares rose 2.4% in the pre-market.
Progressive (PGR) – The insurer struck a deal to acquire Protective Insurance (PTVCB) for $ 23.30 per share in cash, compared to the closing of Protective on Friday at $ 15.01 per share. Protective actions increased by 47% in pre-market negotiations.
Apple (AAPL) – Nissan has said it is not in talks with Apple over a possible autonomous vehicle joint venture. A Financial Times report said the two companies briefly discussed the matter, but the negotiations faltered.
Facebook (FB) – Facebook is developing a smartwatch that would have messaging capabilities, in addition to health and fitness information, according to the technology website The Information, citing people familiar with the matter. Sales of the device would begin next year, according to the report.
Nvidia (NVDA) – The Federal Trade Commission has opened an investigation into the graphics chip maker’s deal to buy UK-based chip designer Arm Holdings for up to $ 40 billion. The deal was said to have been the subject of protests with the regulators of Alphabet (GOOGL), Qualcomm (QCOM) and Microsoft (MSFT). However, Nvidia’s shares rose 1.2% in pre-market stocks.
Bristol-Myers Squibb (BMY) – Bristol and French partner Sanofi (SNY) will pay more than $ 834 million to Hawaii in a case involving the Plavix blood thinning drug. The state accused drug companies of not warning non-white patients of the risks associated with the drug. Bristol and Sanofi said the decision was not consistent with the evidence and promised to appeal.
Toyota Motor (TM) – The automaker will suspend production at nine plants in Japan after an earthquake that hit northeast Japan last week. Toyota did not specify the impact on production. Its shares fell 1.1% in the pre-market.
Cintas (CTAS) – The uniform and construction services provider gave a better-than-expected outlook for current quarter earnings, saying it now has a clearer picture of Covid-19’s impact on its business and that its balance sheet remains solid .