Stocks making the biggest moves in the premarket: Tesla, Micron Technology, Sarepta Therapeutics & more
Take a look at some of the biggest movers in the premarket:
Tesla (TSLA) – Tesla remains on watch after rising for 10 sessions in a row, surpassing Facebook (FB) in market value, and making CEO Elon Musk the world's richest person. The company's shares rose 3.8% in premarket trading as of 7:35 a.m. ET.
Micron Technology (MU) – Micron reported quarterly earnings of 78 cents per share, 7 cents a share above estimates. The chipmaker's revenue also topped Wall Street forecasts. Micron gave upbeat current-quarter guidance, saying that the market for dynamic random access memory chips (DRAM) appears to have bottomed and is on the rebound. Micron's shares rose 3.5% in the premarket.
Boeing (BA) – Boeing reached a $2.5 billion settlement with the Justice Department, in which it admits employees misled regulators about safety issues that preceded two fatal crashes involving the 737 Max jet.
Sarepta Therapeutics (SRPT) – Sarepta said its gene therapy treatment for Duchenne muscular dystrophy did not meet one of its main goals in a study, sending the shares plunging 47% in premarket trading.
Apple (AAPL) – South Korean automaker Hyundai Motor is walking back earlier confirmation of electric car talks with Apple, saying it was in talks with "potential partners" while removing references to Apple. Its comments follow reports that the two companies were discussing a joint venture involving electric cars and batteries. Apple shares rose 1.2% in the pemarket.
Pfizer (PFE) – The Covid-19 vaccine developed by Pfizer and BioNTech (BNTX) appears to be effective against new variants of the virus, according to a study conducted by the drugmaker. That study has not yet been peer-reviewed.
SolarWinds (SWI) – SolarWinds — the IT management software company that was victimized by hackers in a widespread breach — has hired a new consulting firm run by former U.S. cybersecurity chief Chris Krebs and former Facebook chief security officer Alex Stamos.
Niu Technologies (NIU) – Niu shares are rising in the premarket after the China-based electric scooter maker reported a more than 40% jump in fourth-quarter sales compared to a year earlier.
PriceSmart (PSMT) – PriceSmart reported quarterly earnings of 90 cents per share, beating the 68 cents a share consensus estimate. The shopping warehouse club operator's revenue came in above estimates as well. Sales rose more than 8% as customers continued to stock up on staples amid the pandemic.
F5 Networks (FFIV) – F5 Networks announced the acquisition of privately-held cloud software company Volterra for $500 million. The networking technology company also raised its long-term financial targets.
Goodyear Tire (GT) – The tire maker was upgraded to "outperform" from "sector perform" at KeyBanc, which sees better-than-expected sales as well as profit margin expansion for Goodyear. The company's shares rose 4% in the premarket.
MicroStrategy (MSTR) – The business analytics company continues to see its stock rise as its bitcoin holdings surge in value. MicroStrategy made more than $1 billion in bitcoin purchases during 2020. MicroStrategy shares climbed 6.7% in premarket trading.
DR Horton (DHI) – The home builder was upgraded to "outperform" from "sector perform" at RBC Capital Markets, saying the company was well-positioned to capitalize on continued strength in the new housing market. The company's shares were up 1.3% in the premarket.