Take a look at some of the biggest movers in the premarket:
AstraZeneca (AZN) – AstraZeneca's Covid-19 vaccine will be recommended for people aged 65 and older in Canada, according to a CBC report. That news comes after several European countries suspended use of the vaccine, amid reports of side effects. Both the World Health Organization and AstraZeneca say the vaccine is safe. AstraZeneca gained 2.3% in premarket trading.
Moderna (MRNA) – The drugmaker began a study of its Covid-19 vaccine involving children aged 6 months to 11 years. Moderna's vaccine – along with Johnson & Johnson's (JNJ) – is currently authorized for adults 18 and older, while the vaccine from Pfizer (PFE) and BioNTech (BNTX) is allowed for people 16 and older. Moderna shares rose 1.8% premarket.
Starbucks (SBUX) – The coffee chain's stock rose 1.6% in the premarket after BTIG upgraded it to "buy" from "neutral." BTIG said a recovery by Starbucks is gaining steam and that stimulus checks could provide an additional boost.
Designer Brands (DBI) – The footwear and accessories retailer formerly known as DSW reported a quarterly loss of 53 cents per share, smaller than the 68 cents a share loss that analysts were anticipating. Revenue was below consensus, although comparable-store sales fell slightly less than expected. The company said the sequential improvement in performance continued during the quarter.
Fintech Acquisition (FTCV) – The special purpose acquisition company will combine with trading platform eToro and take the Robinhood rival public. The combination will have an estimated value of $10.4 billion. Shares of Fintech Acquisition surged 14.7% in premarket trading.
DraftKings (DKNG) – Shares of the sports betting company rose 1.2% in premarket action after it priced an upsized debt offering of $1.1 billion in convertible senior notes. DraftKings had originally planned a $1 billion offering.
Walgreens (WBA) – Walgreens was sued by the Arkansas attorney general, who accused the drugstore and pharmacy operator of helping fuel the opioid crisis in the state. Walgreens said health and safety have always been the primary focus of its pharmacists and that it would defend itself vigorously against the suit.
Nikola (NKLA) – Nikola fell 2.9% in premarket trading after it filed to raise $100 million through a secondary stock offering. The electric vehicle maker said it intends to use the proceeds for general corporate purposes.
AbbVie (ABBV) – The drugmaker is in talks to sell a portfolio of women's drugs worth approximately $5 billion, according to sources familiar with the matter who spoke to Reuters. The treatments were acquired last year through AbbVie's $63 billion purchase of Allergan.
News Corp (NWSA) – News Corp signed a content supply deal with Facebook (FB) in Australia, resolving a dispute that had seen Facebook withhold all media content in Australia for a week in February. News Corp shares jumped 1.9% in the premarket.
Alibaba (BABA) – The e-commerce giant is being pressured by the Chinese government to dispose of its media assets, according to people familiar with the matter who spoke to The Wall Street Journal. The government is said to be concerned with Alibaba's sway over public opinion. Shares fell 1% in premarket trading.
Ulta Beauty (ULTA) – The cosmetics retailer's stock fell 1% premarket after Guggenheim downgraded it to "neutral" from "buy." Guggenheim cites profit margin uncertainty amid rising competitive pressure on digital platforms.
Avis Budget (CAR) – The car rental company's stock was downgraded to "equal-weight" from "overweight" at Morgan Stanley. The firm notes a more than 90% increase in the stock year-to-date, which it said prices in the improvements in Avis Budget's earnings performance. Shares were down 1.2% in premarket trading.
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