Check out the companies that are making news.
Engine Capital, an activist investor, is urging the retailer to consider a sale of the company or a separation of its e-commerce business. Engine Capital has a 1% stake.
Saint-Gobain will acquire GCP Applied Technologies for $32 per share in cash, or $32 billion. The company surged in premarket trading.
FactSet Research will join the S&P 500 before the market opens on December 20 along with Signature Bank and SolarEdge Technologies. Western Union, Hanesbrands, and Leggett & Platt will all move to the S&P MidCap 400.
The China-based e-commerce giant saw its shares add 1% in premarket action after it announced a reorganization of its e-commerce teams and named a new chief financial officer.
MicroStrategy fell 7.9% in the premarket after the weekend slide in the price of bitcoin. Billions of dollars are on the balance sheet of the business analytics software company.
The electric vehicle maker's stock fell 14.7% in premarket trading after it received a subpoena. The subpoena requested documents related to the SPAC merger deal.
Evercore upgraded the airline's stock to "outperform" from "in-line", saying the company will be in a better place each time it goes through a recovery cycle.
According to Morgan Stanley, Wells Fargo is a top pick because it believes that the banking sector will benefit from faster interest rate hikes and that the omicron Covid-19 variant will only push recovery out by a quarter or so. The shares of Wells Fargo were up in the premarket.
The stock of Boston Beer added 1.2% in premarket action after a upgrade from "underperform" by the broker. The stock price has fallen since August, but is now showing signs of stabilization and negative revisions to earnings are priced into the stock.
The video game maker gained 1.6% in premarket trading after Citi upgraded the stock to "BUY" from "neutral". The recent slide presents a buying opportunity despite concerns over factors like the weakness in the title.
The graphics chip maker's stock slid 4.3% in the premarket as it deals with continuing obstacles to its planned takeover of British chipmaker ARM. The EU antitrust regulators halted their investigation of the deal as they await more information, while the U.S. FTC sued to block the transaction.
