Stock Groups

Kohl’s, FactSet, Alibaba and others

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See which companies are making the headlines even before the bell rings.

Kohl’s (KSS) – The retailer’s stock rallied 2.8% in the premarket following news that activist investor Engine Capital is urging Kohl’s to consider either a sale of the company or a separation of its e-commerce business. Engine Capital holds a Kohl’s share of about 1%.

GCP Applied Technologies (GCP) – The maker of specialty construction chemicals agreed to be acquired by French construction company Saint-Gobain for $32 per share in cash, or about $32 billion. GCP rose 13.3% during premarket trading.

FactSet Research (FDS) – The provider of financial information will join the S&P 500 prior to the market opening on December 20, along with Signature Bank(SBNY) SolarEdge Technologies (SEDG). These will replace Leggett & Platt (LEG), Hanesbrands(HBI), Western Union (WU), which will all move to the S&P MidCap 400.

Alibaba (BABA) – The China-based e-commerce giant saw its shares add 1% in premarket action after it announced a reorganization of its e-commerce teams and named a new chief financial officer.

MicroStrategy (MSTR) – MicroStrategy tumbled 7.9% in the premarket following the weekend slide in the price of bitcoin. It has billions in bitcoin assets on its balance sheet.

Lucid Group (LCID) – The electric vehicle maker’s stock slumped 14.7% in premarket trading after it received a subpoena from the Securities and Exchange Commission. Lucid claimed that Lucid requested documentation related to the SPAC merger agreement with Churchill Capital Corp.

Spirit Airlines (SAVE) – Spirit rose 1.9% in the premarket after Evercore upgraded the airline’s stock to “outperform” from “in-line,” saying the company winds up in a better place each time it goes through a recovery cycle.

Wells Fargo (WFC) – The bank was named a “top pick” at Morgan Stanley, which notes that faster interest rate hikes will benefit the banking sector and that the omicron Covid-19 variant will only push recovery out by a quarter or so. Premarket shares of Wells Fargo rose 1.3%

Boston Beer (SAM) – The brewer’s stock added 1.2% in premarket action, following a Cowen upgrade to “market perform” from “underperform”. Cowen acknowledged the price slump since August. However, it said that the stock is now showing signs of stability and negative revisions in earnings.

Electronic Arts (EA) – The video game maker gained 1.6% in premarket trading after Citi upgraded the stock to “buy” from “neutral.” Citi stated that the slide in recent trading is a buy opportunity, despite concern over EA’s weak “Battlefield 2042” title.

Nvidia (NVDA) – The graphics chip maker’s stock slid 4.3% in the premarket, as it deals with continuing obstacles to its planned takeover of British chipmaker ARM. As they await further information, EU antitrust regulators stopped their investigation and the U.S. FTC sued last week to block the transaction.

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