Stock Groups

Splunk, Blackstone, Aerojet Rocketdyne and more


Here are some top movers of the premarket.

Splunk (SPLK) – Cisco SystemsPeople familiar with the matter told The Wall Street Journal that (CSCO) offered more than $20 million to buy the cloud software company. An acquisition of this magnitude would mark the biggest ever deal for Cisco networking equipment maker. Splunk surged 7.9%, Cisco shares dropped 1%.

Blackstone (BX) – The private-equity firm finalized a $6.3 billion deal to buy Australian casino operator Crown Resorts. With the requirement for regulatory approval, shareholders are likely to be able to vote on this transaction in the second quarter. Blackstone declined 2.6% in premarket.

Aerojet Rocketdyne (AJRD) – Defense contractor Lockheed MartinLMT has reneged on its $4.4billion deal to acquire the rocket motor maker. The transaction was blocked by federal regulators in January amid fears that it would make the company uncompetitive. Aerojet Rocketdyne lost 2.2% during premarket trading while Lockheed Martin gained 0.5%.

Rivian (RIVN) – Soros Fund Management bought nearly 20 million shares of the electric truck maker during the fourth quarter of 2021, according to the fund’s quarterly filing. At the time it was purchased, the stake was valued at approximately $2 million. However, its current value is about $1.17 trillion. Rivian fell 1.8% during premarket trading.

Just Eat Takeaway (GRUB) – Just Eat Takeaway CEO Jitse Groen told a Dutch TV program that the food delivery company’s decision to delist from the Nasdaq should not be taken as a sign that the company intends to sell its Grubhub unit. Groen explained that delisting is an attempt to reduce costs, while adding that they are still looking at options for U.S. delivery companies. In premarket action, shares fell by 1.3%.

Eli Lilly (LLY) – Eli Lilly’s new Covid-19 antibody drug received emergency use authorization from the Food and Drug Administration for use in adults and adolescents. Following the discovery that earlier Covid treatments were not as effective as those against the omicron variant of HIV, FDA has placed limits on their use.

Tyson Foods (TSN) – Tyson was downgraded to “equal weight” from “overweight” at Barclays in a valuation call, with the meat and poultry producer’s stock up 12.4% so far this year. Barclays indicated that there is limited upside potential for the stock at present levels and anticipates good quarterly results. Tyson lost 1.4% in premarket.

Texas Instruments (TXN) – The chip maker’s stock fell 1.4% in premarket trading after Raymond James downgraded it to “market perform” from “outperform.” Unanticipated facts surrounding late-cycle capital spending increases are highlighted by the company.