Stock Groups

Ford, Thor Industries, Applied Materials and more

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Take a look at some of the biggest movers in the premarket:

Ford (F) – Ford is accelerating its push into electric vehicles, with plans for a new U.S. assembly plant and three battery factories. Ford and SK Innovation (South Korean partner) will make more than $11 million in this project. Ford shares gained 3.3% during premarket trading.

Thor Industries (THO) – The recreational vehicle maker reported quarterly earnings of $4.12 per share, beating the consensus estimate of $2.92 a share. Wall Street estimates were also exceeded by revenue. Thor stated that demand for RVs is strong and backlogs are at an all-time high. The premarket saw its shares rise 3.6%.

Applied Materials (AMAT) – Applied Materials shares slid 3.6% in the premarket after New Street downgraded the stock to “neutral” from “buy,” noting record valuation and limited upside for the maker of semiconductor manufacturing equipment.

FactSet (FDS) – The financial information provider earned $2.88 per share for its latest quarter, 16 cents a share above estimates. Due to an increase in the sales of technology solutions, analytics and content, revenue also exceeded projections.

United Natural Foods (UNFI) – The food distributor beat the 80 cents a share consensus estimate, with quarterly profit of $1.18 per share. The consensus estimate for revenue was lower than the actual results. United Natural stated that the strong demand from pandemics drove customers in quarter one of last year’s sales. The premarket saw shares fall 2.7%.

Aurora Cannabis (ACB) – The Canada-based cannabis producer reported lower-than-expected quarterly revenue as consumer cannabis sales fell 45% from a year earlier. Covid-19 regulations were the key factor in this drop, according to the company. Aurora Cannabis fell 2.2% during premarket actions.

Pfizer (PFE) – Pfizer dosed its first patient in a study of an MRNA-based flu vaccine, the same technology used in the successful Covid-19 vaccine it developed with German partner BioNTech (BNTX). Pfizer provided study data to FDA regarding the Covid vaccine’s use in children 5-11 years of age. An official emergency authorization submission is anticipated in the near future.

Sanofi (SNY) – Sanofi announced positive results from a study of its own MRNA-based Covid vaccine, but then said it was halting any further development due to the domination of the market by the Pfizer and Moderna (MRNA) vaccines. The French drugmaker said it would use MRNA technology to develop other vaccines, while focusing on the development of a protein-based Covid vaccine with British partner GlaxoSmithKline (GSK).

Endeavor Group (EDR) – Endeavor is buying sports betting business OpenBet from Scientific Games (SGMS) for $1.2 billion in cash and stock. OpenBet will be combined with the existing business of sports betting by Ultimate Fighting Championship’s owner. Endeavor stock rose 10.1% during the premarket.

Huntsman (HUN) – Huntsman rallied 4.2% in the premarket after activist hedge fund Starboard Value took an 8.4% stake in the chemical maker, calling the shares undervalued. Huntsman indicated that the company was open to constructive dialogue with Starboard.

Merck (MRK) – Merck is near a deal to buy drugmaker Acceleron Pharma (XLRN), according to people familiar with the matter who spoke to The Wall Street Journal. Bloomberg previously reported that Acceleron was under consideration for a purchase by an unnamed pharmaceutical giant. Premarket trading saw Acceleron rise 2.6%

Spotify Technology (SPOT) – Spotify kicked off a global campaign designed to boost its advertising sales. This new campaign by the music streaming company is targeted at medium and small businesses, rather than its previous focus. Spotify declined 1.9% in its premarket.

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