Take a look at some of the biggest movers in the premarket:
Oracle (ORCL) – Oracle gained 3% in the premarket after the business software giant posted top and bottom line beats for its latest quarter. Oracle continues to make significant progress in shifting more of its business to the cloud.
Boeing (BA) – Boeing rose 2.2% in premarket action after United Airlines (UAL) announced a 200-jet order that includes 100 787 Dreamliners and 100 737 Max jets, with options for further purchases. The order is worth $43 billion at list prices.
Moderna (MRNA) – The drugmaker announced that its experimental melanoma vaccine combined with Merck (MRK) cancer treatment Keytruda cut the risk of skin cancer recurrence by 44% compared with a treatment of only Keytruda. Moderna rallied 7.5% in the premarket, while Merck gained 1.9%.
First Solar (FSLR) – First Solar rose 1.1% in premarket trading following news that it will replace Fortune Brands Home & Security (FBHS) in the S&P 500. Fortune Brands is spinning off a division and will then replace First Solar in the S&P MidCap 400.
Mirati Therapeutics (MRTX) – Mirati Therapeutics surged 8.6% in premarket trading after the drugmaker’s new lung cancer treatment adagrasib received Food and Drug Administration approval.
Pinterest (PINS) – Pinterest was upgraded to “overweight” from “neutral” at Piper Sandler, which believes the image-sharing website operator can expand its profit margins. Pinterest rose 2.8% in premarket action.
Gold Fields (GFI) – The gold mining company’s stock slid 3.1% in the premarket after the company announced that CEO Chris Griffith would step down on Dec. 31. Company chairman Yunus Suleman said Griffith felt responsible for the company’s failure to acquire rival miner Yamana Gold (AUY).
Fiverr (FVR) – Fiverr added 1.1% in premarket trading after Citi initiated coverage of the stock with a “buy” rating. Citi feels certain internet stocks like Fiverr – which connects freelancers with businesses and individuals who need services – already reflect concerns about macroeconomic weakness.
Affirm (AFRM) – Bank of America Securities downgraded the “buy now pay later” lender to “neutral” from “buy,” saying investor concerns over credit risk and discretionary spending cutbacks are likely to remain for several more quarters. Affirm fell 1% in the premarket.
Read the full article here