Stocks making the biggest moves in the premarket: AutoZone, Take-Two Interactive, bluebird bio and more
Take a look at some of the biggest movers in the premarket:
AutoZone (AZO) – AutoZone gained 3.9% in premarket action after the auto parts retailer reported better-than-expected profit and revenue for its latest quarter. AutoZone's same-store sales rose 6.2% compared to a year ago, twice what analysts had predicted amid continued strength in its commercial business.
Take-Two Interactive (TTWO) – Take-Two shares slid 5.8% in the premarket after Bloomberg reported that a hacker released gameplay from its upcoming Grand Theft Auto IV game online. It's said to be one of the biggest leaks in gaming history.
bluebird bio (BLUE) – bluebird bio rallied 7.3% in premarket trading after the Food and Drug Administration approved the company's gene therapy for a rare and lethal brain disease in children.
Wix (WIX) – Wix shares jumped 4.5% in premarket action after activist investor Starboard Value revealed a 9% stake in the web development platform company.
Coinbase (COIN) – Coinbase fell 5% in the premarket, as multimonth lows for cryptocurrencies weigh on sentiment for the crypto exchange operator and other crypto-related stocks. MicroStrategy (MSTR) – the business analytics company which has billions in bitcoin on its balance sheet – also fell, down 4.9%.
FedEx (FDX) – FedEx remains on watch after plunging 21.4% in Friday's trading following an earnings warning, its biggest-ever one-day decline.
NCR (NCR) – NCR slid another 1.3% in the premarket on top of a 20.3% plunge Friday after Morgan Stanley downgraded the stock to "equal-weight" from "overweight." The Friday decline followed news that NCR would separate into two separate companies, and Morgan Stanley said any unlocking of value from that move may take a long time to play out.
Adobe (ADBE) – Wells Fargo downgraded the software company's stock to "equal weight" from "overweight," saying Adobe's planned acquisition of online design firm Figma is a good product fit but that the $20 billion price tag leaves little room for error. Adobe fell 1.3% in premarket trading after falling 16.8% last Thursday and another 3.1% on Friday.
Theravance Biopharma (TBPH) – Theravance has initiated a $250 million stock buyback program. As part of that program, it will buy the 9.6 million shares held by pharmaceutical company GSK (GSK). Theravance added 3.2% in the premarket.