Stocks making the biggest moves premarket: Bank of America, UnitedHealth, P&G and more

The companies are making news before the bell.

Bank of America shares were up 3.2% in the premarket after it beat estimates with a quarterly profit of 82 cents per share. The bank's overall performance was helped by strength in investment banking.

The health insurer earned an adjusted $4.48 per share for the fourth quarter, 17 cents above estimates, and its revenue also topped forecasts. The Optum unit has a drug benefits management business.

Morgan Stanley jumped 3.5% in the premarket after beating estimates by 10 cents with a quarterly profit of $2.01 per share, and revenue was in line with forecasts. The results got a boost from robust deal advisory fees.

P&G added 1% in the premarket after beating estimates on top and bottom lines for its fiscal second quarter and raising its organic growth outlook. P&G beat estimates by a penny with a profit of $1.66 per share, as consumers shrugged off price hikes for the company's household staple.

Sony fell 3.9% in premarket trading on top of a 7.2% skid Tuesday. Microsoft's deal to buy video game maker Activision Blizzard for $68.7 billion would increase competition in the video game industry.

Alliance Data lost 1.7% in premarket action after news that warehouse retailerBJ is moving its co- branded credit card account to Capital One. Alliance is being sued by a store that claims the credit card specialist is slowing down the transfer process. Alliance believes it is in full compliance with its contract.

The financial technology company gained regulatory approval to become a bank holding company.

Zogenix soared 65.9% in the premarket after agreeing to be acquired by UCB for $26 dollars per share, compared with the $15.64 Tuesday closing price for Zogenix. UCB would pay an extra $2 per share if the Zogenix drug fintepla is approved by the end of the year.

Sources told the New York Post that Tegna is close to a $9 billion deal to be bought out by Apollo Global Management and Standard General. The TV station operator had initially demanded a $500 million break up fee if the deal did not receive FCC approval in a timely manner, but has now relented on that demand. Tegna was up 4.9% in the premarket.

ASML reported a better-than- expected fourth-quarter profit. The Dutch chipmaker issued an upbeat sales growth forecast and shares were up 2% in premarket trading.

Pearson raised its full-year forecast due to strength across its education publishing portfolio and better-than- expected prospects for U.S. higher education courseware. Pearson shares jumped in the premarket.

According to the New York Post, Tegna was seeking a $500 million break up fee as part of the deal to be bought out by private equity firms. The figure was misstated.