Market Insider

Stocks making the biggest moves in the premarket: Walmart, Uber, Amazon, Shake Shack & more

News Update – Pre-Markets

Take a look at some of the biggest movers in the premarket:

Walmart (WMT) – The retailer announced the sale of its British supermarket chain Asda for $8.8 billion. The buying group consists of private equity firm TDR Capital and the Issa brothers, founders of gasoline station chain EG Group.

Uber Technologies (UBER) – Private equity firm Greenbriar Equity will invest $500 million in Uber's logistics unit Uber Freight, valuing it at $3.3 billion. Uber will maintain majority ownership of that business. (AMZN) – Amazon said 19,000 of its workers have tested positive for Covid-19 over the past six months, less than it had expected to see. Amazon continues to ramp up testing levels, and plans to be at 50,000 tests per day by November.

Pool Corp. (POOL) – Pool will be replacing E*Trade Financial (ETFC) in the S&P 500, after the acquisition of E*Trade by Morgan Stanley (MS) is completed. Pool is the world's largest wholesaler of swimming pools and related products.

Janus Henderson (JHG), Invesco (IVZ) – Nelson Peltz's Trian Asset Management has acquired 9.9% stakes in the two investment firms, according to Securities and Exchange Commission filings. Trian is said to be aiming for consolidation in the asset management industry and building another major player.

Activision Blizzard (ATVI) – Activision's Blizzard Entertainment unit is delaying the release of "World of Warcraft: Shadowlands" until later this year. The videogame publisher said the delay is pandemic-related, with the shift of employees to home-based work slowing the development process.

Shake Shack (SHAK) – Loop Capital initiated coverage of the restaurant chain with a "buy" rating, saying it believes comparable sales trends have bottomed and that growth is ahead thanks to Shake Shack's emphasis on growing off-premises and digital sales.

Southwest Airlines (LUV) – Southwest CEO Gary Kelly told workers in a video message that layoffs could be looming if no further aid to the airline industry is forthcoming from lawmakers.

Twilio (TWLO) – Twilio raised its forecast for the quarter that ended Sept. 30, with the cloud services company benefiting from the increase in remote working and education. Twilio is scheduled to release its earnings report for the quarter on Nov. 4.

Marathon Oil (MRO) – Marathon Oil reinstated its quarterly dividend, after suspending it in May in the wake of falling crude oil prices. The dividend will be 3 cents per share, payable on Dec. 10 to shareholders of record as of Nov. 18.

Universal Health Services (UHS) – Universal Health said its computer network is being restored after a malware attack shut down the hospital operator's systems earlier this week. The company has not commented on reports that its systems were attacked by ransomware.

Nu Skin Enterprises (NUS) – The nutrition and personal care products retailer raised its third-quarter revenue guidance, driven by growth in its digital sales.