Market Insider

Stocks making the biggest moves premarket: Dunkin' Brands, AstraZeneca, Hasbro & more

Wall Street set to open in the red
Wall Street set to open in the red

Check out the companies making headlines before the bell Monday:

Dunkin' Brands (DNKN) — Dunkin' shares rallied more than 15% in the premarket after the company said it was in talks to be acquired by Inspire Brands, the owner of restaurant chains Arby's and Jimmy John's. The New York Times said a deal would take Dunkin' Brands private for $106.50 per share, which would be 20% above the stock's closing price of $88.79 per share on Friday. 

AstraZeneca (AZN) — Astrazeneca shares gained 0.8% after the drugmaker said its coronavirus vaccine candidate produced a similar immune response in older and younger adults during a clinical trial.

Hasbro (HAS) — Hasbro reported third-quarter earnings per share and revenue that beat analysts' expectations. The company posted a profit of $1.88 per share on revenue of $1.78 billion. Wall Street was expecting earnings of $1.63 per share on revenue of $1.74 billion, according to FactSet. The stock was down more than 2%, however, as the company's sales for its TV, film and entertainment division fell short of estimates.

Kontoor Brands (KTB) — A Bank of America analyst upgraded Kontoor Brands shares to "buy" from "underperform," and hiked its price target to $38 per share from $17 per share. "We think consensus is underestimating KTB's sales trajectory, which should benefit from new distribution starting in 2H20 … another likely round of US stimulus supporting its lower income consumer and a healthier distribution footprint vs. peers," the analyst said. Kontoor shares traded 0.5% higher in the premarket at $32.60.

Facebook (FB) — KeyBanc Capital Markets raised its price target on the social media giant to $340 per share, citing an "attractive" valuation. "We believe regulatory concerns have exerted downward pressure on valuation multiples," KeyBanc said.

Lululemon (LULU) — Lululemon shares climbed 0.8% after a JPMorgan analyst raised his price target on the athletic apparel maker's stock to $415 per share from $387 per share. The new price target implies a 12-month upside of 24.3% from Friday's close of $333.92 per share. The analyst cited potential upside from "multiple incremental initiatives," including appointment shopping, virtual waiting lists and increased pop-up stores.

Winnebago (WGO) — Winnebago shares were up more than 2% on the back of a Citi analyst upgrade to "buy" from "neutral." The analyst said "the attractiveness of the RV lifestyle is here to stay" as a return to travel on planes and cruises remains "several years away."

Palantir Technologies (PLTR) — JPMorgan and Jefferies initiated coverage of the stock with "buy" ratings, citing the company's data-collecting prowess and capabilities. Palantir went public late last month. Analysts at Goldman Sachs and Credit Suisse initiated Palantir with "neutral" ratings.

Billionaire Ray Dalio has two pieces of advice for the average investor
Billionaire Ray Dalio has two pieces of advice for the average investor