Stock Groups

BP, First Horizon, defense stocks and more

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Check out these premarket movers:

Berkshire Hathaway (BRK.B) – Berkshire reported record annual profit in 2021It was largely due to its investments in Apple (AAPL). Berkshire bought back stock worth $27 billion last year. However, the pace of these buybacks has slowed in the fourth quarter. The premarket saw Berkshire Class “B” shares fall by 1%.

BP (BP) – BP shares tumbled 7.1% in the premarket after saying it would sell its nearly 20% stakeRussia’s Rosneft, a state-controlled oil producer in Russia, was impacted by Russia’s invasion Ukraine.

First Horizon (FHN) – First Horizon shares surged 32.3% in premarket trading after the bank agreed to be acquired by Toronto-DominionIn an all cash deal of $25 per share, or $13.4 billion, (TD) was acquired by Toronto-Dominion. This move will allow Toronto-Dominion to expand its presence in the southeast part of the U.S.

Renewable Energy (REGI) – The maker of renewable energy fuels agreed to be acquired by ChevronThe Friday closing price of $63.81 was $51.50, while the CVX closed at $61.50. Premarket shares of Renewable Energy rose 36.5%

Starbucks (SBUX) – Workers at a Starbucks café in Mesa, Arizona voted to unionize, becoming the third Starbucks location in the U.S. to do so. Starbucks saw a 1% drop in premarket activity.

Zendesk (ZEN) – The customer service platform operator ended its deal to buy SurveyMonkey parent Momentive GlobalZendesk shareholders had rejected Friday’s proposed transaction and MNTV was created. This follows Wall Street analysts’ doubts about the benefits of the all-stock Jana Partners deal and objections to it. Momentive fell 2.4% during premarket activity, while Zendesk rose 0.4%

Northrop Grumman (NOC), Raytheon Technologies (RTX), General Dynamics (GD) – These and other defense stocks surged in the premarket in the aftermath of Russia’s invasion of Ukraine and the pledge by European Union countries to spend more on defense. Northrop Grumman gained 5%, Raytheon Technologies surged 6%, and General Dynamics gained 5.4%.

Healthcare Trust of America (HTA) – The health-care-centered real estate investment trust agreed to combine with rival Healthcare Realty(HR), in an agreement with an implied price of $35.08 each share. Healthcare Realty fell 9.2% while Healthcare Trust lost 5%.

PulteGroup (PHM), Toll Brothers (TOL) – The home builders received double upgrades to “buy” from “underperform” at Bank of America Securities. The company notes that home builders have underperformed in 2022, despite high earnings and good guidance. They feel the risk/reward ratio is favorable. PulteGroup saw an increase of 1.1% in premarket sales, and Toll Brothers experienced an increase of 1%.

Nielsen (NLSN) – The company best known for TV ratings saw its stock rally 7.6% in the premarket after reporting adjusted quarterly earnings of 46 cents per share, 10 cents above estimates, and also issuing an upbeat full-year forecast. It also revealed a $1 Billion share repurchase plan.

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