Check out the companies that make headlines before the alarm goes off:
Baidu (BIDU) – Baidu shares rose 4.1% in pre-market trading after Reuters reported that the China-based internet search giant was in talks to sell its controlling stake in the company. online videos iQIYI (INTELLIGENCE QUOTIENT). iQIYI fell 3.4%.
MicroStrategy (MSTR) – MicroStrategy loses 2.2% in money markets as bitcoin price hits 18-month low. Business analytics company with large bitcoin holdings.
Moderna (MRNA) – Moderna has won the FDA panel’s recommendation for use of the Covid-19 vaccine in children 6 to 17 years of age. A full FDA vote could be put in place in the next few days. Moderna was up 1% in pre-sales.
Stellantis (STLA) – Stellantis will begin indefinite layoffs next week at its Sterling Heights, Michigan stamping plant. The world’s fourth-largest automaker did not specify how many workers would be affected. Stellantis is up 3.4% in the currency market.
Zendesk (ZEN) – Zendesk is in settlement talks with activist investor Jana Partners after ending a failed attempt to sell the software company, according to people familiar with the matter who spoke to the Wall Street Journal. The newspaper said the proposed changes could involve the resignation of Chief Executive Officer Mikkel Svane as well as changes to the board of directors. Zendesk added 1% to pre-market trading.
Robinhood Market (HOOD) – The trading platform operator was downgraded from “neutral” to “neutral” at Atlantic Equities, citing Robinhood revenue trends. Robinhood is down 4.2% in pre-sale activity.
Snowflakes (SNOW) – Upgraded cloud company to “buy” back from “organization” at Canaccord Genuity. The stock is down more than 65% in 2022, but Canaccord says the stock is now an attractive entry point, given growing demand and promising new products. Snowflake was up 3.6% in the currency market.
Wheel up (UP) – Shares of the private jet company jumped 2.1% in pre-market trading after Goldman started taking the wraps off with a “buy” rating, which said Wheels Up was the market leader. The school was eventually established and developed.
Sonos (SONO) – The premium speaker maker was downgraded from “weight” to “balanced” by Morgan Stanley due to concerns about the impact of more cautious consumer spending. Sonos fell 3.1% in currency markets.
– by CNBC Peter Schacknow contribution report.
