Electronic Arts, VMWare, GameStop and more
Here are some top movers of the premarket.
Electronic Arts (EA) – The video game maker’s shares rose 2.5% in the premarket after Puck News reported that the company was actively seeking a buyer or merger partner. EA is believed to have held negotiations with Walt Disney (DIS), Apple(AAPL). Amazon(AMZN) among others.
VMWare (VMW) – The cloud computing company’s stock surged 21.3% in premarket trading following multiple reports that it is in advanced talksChipmaker to purchase Broadcom (AVGO). People familiar with this matter say that the two companies have been discussing a cash and stock deal. This could be done soon. Broadcom slid 4.3%.
GameStop (GME) – GameStop jumped 3.5% in premarket trading after the video game retailer launched a digital wallet for cryptocurrencies and NFTs.
HP Inc. (HPQ) – The computer and printer maker was downgraded to “neutral” from “buy” at Citi, based on moderating demand for PCs in the near to mid-term. In premarket action, HP lost 2.7%.
Pfizer (PFE) – Pfizer and partner BioNTech(BNTX), three doses of the Covid-19 vaccine were offered strong protection for children under 5According to preliminary data, it is 0.2%. Premarket trading saw BioNTech rise 1.8%, and Pfizer rose 0.2%.
Motorola Solutions (MSI) – Morgan Stanley upgraded the communications equipment and software company’s stock to “overweight” from “equal-weight,” with a number of favorable trends in place including an increase in demand for video surveillance. Motorola Solutions increased 2.5% in the Premarket.
Emergent BioSolutions (EBS) – The biopharma company’s stock rallied 11.1% in premarket trading, amid the increasing concerns about the spread of monkeypox. Emergent can supply smallpox vaccine that is used to protect against monkeypox.
Autodesk (ADSK) – The design software company’s stock fell 3.9% in premarket action after RBC cut its price target on the stock to $255 per share from $295 a share. RBC stated that Street earnings consensus might be too high, and Autodesk must establish consistency in results to improve investor confidence.
Boeing (BA) – Boeing rose 1% in premarket trading after its Starliner spacecraft successfully docked with the International Space Station over the weekend.
Corning (GLW) – The materials science company’s stock slid 2.6% in the premarket after Citi downgraded it to “neutral” from “buy,” citing lower PC and tablet demand impacting Corning’s optical components business. Citi noted that demand recovery is uncertain for premium televisions and large-sized TVs.