Stocks Making The Biggest Moves Before The Market: Discovery, ViacomCBS, Credit Suisse, PayPal, Roku & More
Check out the companies that are making the headlines before the bell:
Discovery Communications, ViacomCBS – The two media stocks are higher this morning after being hurt in the liquidation of stocks owned by hedge fund Archegos Capital. Discovery was up 1.6% pre-launch after a 6-day losing streak that lost nearly 47% of its value, while Viacom was up 1.1% after a 5-day skid that lost 55% of its value.
Nomura Securities, Credit Suisse – Nomura and Credit Suisse both fell further in premarket trading after falling on Monday on expected losses from the impact of Archegos Capital’s share sales. Nomura fell 1.9% while Credit Suisse fell 2.6%.
Albertsons – The supermarket chain has announced an extensive partnership with Google, owned by Alphabet, that integrates a variety of Google services to improve the shopping experience for Albertsons customers.
PayPal Holdings – PayPal will launch a checkout service that will allow US customers to use cryptocurrency holdings when checking out at millions of online merchants. Customers have the option to convert cryptocurrency to fiat currencies before completing their purchases.
T-Mobile US – The mobile operator will end its live TV service “TVision” at the end of April and instead offer its customers discounts for subscribing to Google’s YouTube TV service.
McCormick & Co. – The spice and spice maker reported adjusted quarterly earnings of 72 cents per share, beating consensus estimates by 13 cents, with sales estimates also beating estimates. The company also raised its guidance for the full year as more consumers cook at home amid the pandemic. McCormick shares rose 2.1% before going public.
Tegna – The media company increased its quarterly dividend from 7 cents previously to 9.5 cents per share, which was payable on July 1 to June 4 shareholders.
Roku – The video streaming equipment maker, shares rose 1.6% ahead of the market after Truist Financial switched its stock from hold to buy, which it believes has several opportunities to grow its sales as well as represents current rating.
Yelp – The review site operator at Citi has moved from Neutral to Buy, which will benefit Yelp from a number of trends over the next several years, including restaurant reopening and reduced distribution costs. Yelp was up 1.8% before entering the market.
BioNTech – The German biotech company’s shares rose 4.9% ahead of market entry after the manufacturing target for its Covid-19 vaccine was raised to 2.5 billion doses by the end of 2021. BioNTech’s vaccine partner Pfizer had previously forecast production between 2.3 and 2.4 billion.
FactSet – The financial information provider reported adjusted quarterly earnings of $ 2.72 per share, with consensus estimates missing 2 cents, while revenue was in line with Wall Street projections. FactSet also forecast adjusted annual earnings of $ 10.75 to $ 11.15 per share, compared to a consensus estimate of $ 11.17.
Becton Dickinson – The medical device maker has received FDA approval for a new rapid antigen test that can detect both flu and Covid-19.
DraftKings – The sports betting company announced it was acquiring sports betting and content company VSiN for an undisclosed amount. The DraftKings share gained 1% before the IPO.