DoorDash, Didi, Philips and others
Take a look at the top companies that made headlines long before the bell rang.
DoorDash (DASH) – The stock added 2.6% in the premarket after Evercore upgraded it to “outperform” from “in line.” Evercore believes the stock has attractive value and is based on strong fundamentals. Separately, Meta Platforms(FB) has appointed Tony Xu, DoorDash CEO to its Board of Directors. This is the first appointment to the Facebook parent board since nearly two years.
Didi Global (DIDI) – The ride-hailing company’s shares rallied 5.9% in premarket trading on reports that it is in talks for a second-quarter Hong Kong IPO as it continues the process of delisting from the New York Stock Exchange.
Philips (PHG) – Philips shares tumbled 15.6% in premarket action after predicting a roughly 40% drop in core profit for the fourth quarter. Component shortages and a recall of its ventilators are affecting the Dutch company.
Ocugen (OCGN) – The biopharmaceutical company’s stock jumped 5.5% in premarket trading after a booster dose of its vaccine candidate Covaxin was shown to neutralize the Covid-19 omicron and delta variants.
Aerojet Rocketdyne (AJRD) – The FTC has postponed a vote on Lockheed MartinAccording to sources briefed to Reuters,’s (LMT), proposed acquisition of the aerospace system maker would have been in place for no less than two weeks. Lockheed would be the dominant player in the rocket motor market, according to opponents of the deal. Aerojet Rocketdyne shares gained 3% on the premarket.
Biogen (BIIB) – Biogen shares sank 9.1% in premarket trading after Medicare agreed to only partially cover the Alzheimer’s drug Aduhelm. Medicare will not cover this treatment for patients who are in clinical trials, or have symptoms that indicate early stages of Alzheimer’s disease.
Dish Network (DISH) – Dish and DirecTV are once again in merger talks, according to sources who spoke to the New York Post. In the 20-year history of satellite TV, the companies have had sporadic talks. According to sources speaking with The New York Post, DirecTV’s minority shareholder TPG Capital is pushing for the new round. Dish Network saw a 7.4% increase in premarket.
Just Eat Takeaway (GRUB) – The Grubhub parent rallied 4.3% in the premarket after the company maintained its 2022 forecast and said it was seeing a rise in order volume.
Ally Financial (ALLY) – The bank announced a 20% dividend increase, raising its quarterly payout to 30 cents per share, and also authorized a $2 billion share repurchase program. Ally Financial saw a 2.9% increase in premarket trading.
Crocs (CROX) – The casual shoe maker’s stock rose 1.5% in premarket action after Piper Sandler named it a “top pick” for 2022, calling it one of the most impressive consumer growth stories for several years to come.
Ambarella (AMBA) – Ambarella shares gained 2.7% in the premarket after Wells Fargo upgraded the chipmaker to “overweight” from “equal weight.” Wells Fargo gave Ambarella a favorable valuation following a recent pullback. It called it one the best options to enter the artificial intelligence marketplace.