Stocks making the biggest moves in the premarket: Hasbro, Energizer, Palantir & more
Take a look at some of the biggest movers in the premarket:
Hasbro (HAS) – Hasbro reported quarterly profit of $1.27 per share, 13 cents a share above estimates. Revenue also exceeded forecasts, boosted by ongoing increased interest in its board games and toys amid the pandemic. Hasbro shares rose 2.8% in premarket trading as of 7:36 a.m. ET.
Energizer Holdings (ENR) – The battery maker beat estimates by 28 cents a share, with quarterly earnings of $1.17 per share. Revenue also topped estimates and Energizer increased its full-year forecast, benefiting from increased demand and lower costs. The company’s shares jumped 5.5% in the premarket.
Westport Fuel Systems (WPRT) – Westport is up by about 50% in premarket trading following news that Amazon.com (AMZN) has ordered about 1,000 truck engines that run on compressed natural gas for its fleet of delivery vehicles. The engines are made by a joint venture between Vancouver-based Westport and Cummins (CMI).
Cubic Corp. (CUB) – The provider of transportation-related technology agreed to be bought by Veritas Capital and Evergreen Coast Capital for $70 per share in cash, or about $2.8 billion. Cubic had disclosed potential third party interest in acquiring the company back in September. Cubic shares jumped 8.3% in the premarket.
Palantir Technologies (PLTR) – The maker of data analysis software announced a partnership with IBM (IBM) that will augment IBM’s artificial intelligence offerings and make them easier to use. Palantir Chief Operating Officer Shyam Sankar told Bloomberg that the company expects to announce more such partnerships in the future. Palantir shares surged 8.6% in premarket trading.
Global Payments (GPN) – The payments technology company came in 4 cents a share ahead of estimates, with quarterly earnings of $1.80 per share. Revenue essentially was in line with forecasts. Global Payments saw revenue fall from a year earlier, but saw expenses decline as well. The company also announced a partnership with Google to develop a variety of cloud-based solutions for merchants. The company’s shares rose 2.3% in the premarket.
Royal Dutch Shell (RDS.A) – Royal Dutch Shell struck a deal to supply renewable energy to Amazon. The online retail giant is aiming to derive 100% of its power needs from clean energy by 2025.
PPG Industries (PPG) – The paint and coatings maker is the winner in the bidding for Finnish paint maker Tikkurila, after Dutch rival Akzo Nobel dropped out. PPG submitted a revised offer last week that topped the latest overture made to Tikkurila by Akzo Nobel.
AMC Entertainment (AMC) – AMC said in a Securities and Exchange Commission filing that majority shareholder Wanda Group had executed a share conversion to the movie theater operator’s class A stock from class B shares. The move would allow the China-based company to sell AMC shares, but the filing did not say how many shares were converted or if any were sold. AMC shares were caught up in the Reddit-fueled volatility of the past few weeks. AMC shares rose 1.7% in premarket trading.
AstraZeneca (AZN) – South Africa has halted the rollout of AstraZeneca’s Covid-19 vaccine, after a study showed the vaccine gave only minimal protection against a variant of the virus prevalent in South Africa.
Target (TGT) – Stifel upgraded the retailer’s stock to “buy” from “hold,” noting Target’s strong gains in digital sales and the increasing popularity of the company’s same-day services. Target shares climbed 1.4% in the premarket.
Hershey (HSY) – Hershey was upgraded to “outperform” from “market perform” at RBC Capital Markets, saying the chocolate maker will be able to hold recent market share gains due to ongoing issues for its competitors.