Kohl’s, Snap, Peloton and more
Here are some top movers of the premarket.
Kohl’s (KSS) – Kohl’s soared 27.3% in premarket trading as takeover interest in the retailer ramps up. Starboard-backed Acacia Research offers Kohl’s $64 per Share, which is $46.84 less than Friday’s close. According to people familiar with the situation, Sycamore Partners, a private equity firm has offered at least $65 per shares.
Snap (SNAP) – Snap shares slid 5.3% in the premarket after it was downgraded to “neutral” from “outperform” at Wedbush, which sees various headwinds impacting the social media network operator’s revenue growth.
Philips (PHG) – Philips slid 4.2% in premarket action after the Dutch health technology company reported falling profit due in part to supply chain issues that are expected to persist in coming months. Philips forecasted a strong recovery of sales in the second half.
Peloton (PTON) – Activist investor Blackwells Capital is calling on Peloton to fire its CEO and seek a sale of the company. Peloton’s stock fell more than 80 percent from its peak, due to the company’s inability to adapt quickly changing supply and demand dynamics. Premarket trading saw a 2% drop in Peloton.
Halliburton (HAL) – Halliburton rose 1.5% in the premarket after the oilfield services company beat top and bottom line estimates for the fourth quarter. Halliburton’s share price was 36 cents, which is 2 cents more than the estimates. The company saw a rise in demand as oil prices rose. Halliburton’s quarterly dividend was also increased to 12c per share, from 4.5c per share.
Unilever (UL) – Unilever surged 6.6% in the premarket following reports that Nelson Peltz’s Trian Partners has built up a stakeIn the giant consumer goods company. Trian could not confirm the amount of the stake and said that it would not comment on market rumors when CNBC contacted Trian.
Fox Corp. (FOXA) – Fox added 1.6% in premarket trading after UBS upgraded the stock to “buy” from “neutral.” UBS indicated that Fox, among other traditional media firms, is well placed to take advantage of an acceleration in sports betting. It also pointed out Fox’s strong position within pay-TV companies.
Discover Financial (DFS) – Discover Financial was upgraded to “overweight” from “neutral” at Piper Sandler, which cites several factors including the financial services company’s valuation. Discover gained 1.1% during pre-market trading.
Coinbase (COIN) – The cryptocurrency exchange operator’s shares tumbled 7.8% in the premarket, reflecting the downward move in crypto over the weekend and this morning, with Bitcoin touching its lowest level since July. Microstrategy (MSTR) – the business analytics company that holds several billion dollars in bitcoin – plunged 12.2%.
Comcast (CMCSA) – The NBCUniversal and CNBC parent was upgraded to “outperform” from “sector perform” at RBC Capital, which thinks that subscriber growth concerns have been overblown. Comcast gained 1.1% during the premarket.