Moderna, Royal Caribbean, Cerner and others
See which companies are making the headlines even before the bell rings.
Moderna (MRNA) – Moderna shares jumped 7.2% in the premarket after the drugmaker said a booster dose of its Covid-19 vaccine increased protection against the omicron variant 37-fold. Others vaccine companies are making gains amid the spread omicron. Pfizer(PFE), up 1.4% BioNTech(BNTX), adding 3.1% Novavax (NVAX) surging 10.3%.
Cruise line operators – The surge in omicron cases is weighing on cruise stocks, with more pressure after a Royal CaribbeanThe (RCL), ship arrived in Miami with 48 Covid cases. Royal Caribbean lost 2.9% in premarket trades, Carnival(CCL) Down 2.9% Norwegian Cruise Line(NCLH), falling 3.6%
Airline stocks – Omicron concerns are also weighing on the airline stocks, with United Airlines(UAL) Falling 2.9% American Airlines(AAL) sliding 2.8% Delta Air Lines(DAL) fell 2.8% SouthwestThe (LUV), down 2.3% JetBlue (JBLU) losing 2.2%.
Biogen (BIIB) – Biogen rallied 3.6% in the premarket after announcing it would cut the price of its Alzheimer’s drug Adulhelm by 50% in order to improve access to the treatment.
Cerner (CERN) – The medical records technology provider will announce a deal today to be acquired by OracleCNBC’s David Faber reported that ORCL in an all-cash transaction was “in the middle-$90s” per share. Cerner shares surged 13% after Friday’s Wall Street Journal report that Cerner and the Wall Street Journal were nearing an agreement. Premarket trading saw Cerner rise another 1.7%.
Canopy Growth (CGC) – The cannabis producer slid 3.4% in premarket action after Piper Sandler downgraded the stock to “underweight” from “neutral”, citing sales trends that are under pressure across Canopy’s businesses.
Sunrun (RUN) – The solar company’s stock tumbled 9.4% in the premarket following a KeyBanc downgrade to “sector weight” from “overweight.” This follows California proposals to reduce the “net metering” benefits of solar power customers, and decrease incentives for such purchases.
AT&T (T) – Barclays upgraded AT&T to “overweight” from “neutral,” based on a better broadband outlook for telecom companies than for cable providers. AT&T was up 1.6% in the premarket.
Verso (VRS) – The Ohio-based maker of specialty, graphic and packaging paper will be acquired by Swedish paper producer BillerudKorsnäsThe deal was worth $27 per share cash. In premarket trading, Verso increased 32.2%
Axon Enterprise (AXON) – The maker of stun guns and body cameras saw its stock jump 7.3% in the premarket, following a number of stock purchases by company insiders.
Novo Nordisk (NVO) – The Denmark-based drugmaker saw its shares slide 4.2% in premarket trading after saying supply issues in the U.S. market would leave it unable to meet demand for its weight-loss drug Wegovy.