At a pop up community vaccination center at Gateway World Christian Center Valley Stream, New York (U.S.A), February 23, 2021, a syringe was filled with Pfizer's COVID-19 vaccine.
Take a look at the companies that are making headlines even before the bell rings.
China Evergrande Group Evergrande Group, the Chinese property giant Evergrande plunged more than 10% on Hong Kong Stock Exchange. This spooked Asian markets. The company has been struggling to pay its suppliers and warned investors twice in the past weeks that it might default on its debts. Evergrande stated last week that September will see a significant drop in property sales after months of decline.
Pfizer Monday, the pharmaceutical giant Pfizer said that Covid vaccine trials had shown it was safe and effective in children aged 5-11 years old. Pfizer and BioNTech announced that they will submit the results to FDA "as soon possible." Premarket trading saw Pfizer shares fall by about 1%
Premarket trading Monday saw Laredo Petroleum, Occidental Petroleum Oil, and energy stocks all drop. In early trading, the SPDR S&P Oil & Gas Exploration ETF fell more than 3%. This is its third consecutive negative session. Laredo Petroleum has dropped more than 8%, Callon Petroleum has fallen about 6% and Occidental Petroleum has dropped nearly 5%. Crude oil lost because of fears about a slowdown in global economic growth due to China's property market.
Deutsche Bank upgraded Colgate-Palmolive's consumer staples stock to buy from hold on Sunday. According to the investment company, Colgate's problems with inflation and on some international markets were already priced into its stock.
JPMorgan and Bank of America Bank stocks fell in unison due to a fall in bond yields amid slowdown fears. As the stock market prepares for its worst sell-off in months, investors flocked to Treasurys to find safety. The falling rates could hurt profits, so big bank stocks suffered. JPMorgan Chase and Bank of America were both down more than 2 percent in premarket trading. Citizens Financial Group lost 3% while Citigroup fell 2.5%
AstraZeneca, a UK-based pharmaceutical company, announced Monday that Enhertu, its breast cancer drug Enhertu, had positive results in a phase three trial. Premarket trading saw shares rise by more than 1%.
ARK Innovation ETF Cathie Wood's ARK Innovation ETF is currently down 2.75% in premarket. This follows a three-day winning streak. Compugen and DraftKings are among the biggest losers in this morning's ETF.
Reporting by CNBC's Jesse Pound, Yun Li
