A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX on the Boeing plant in Renton, Washington.
Matt Mcknight | Reuters
Try the businesses making headlines in premarket trading.
Oak Street Health – Shares of Oak Street Health surged 36% after a Bloomberg report that CVS is exploring options to purchase the health care company for greater than $10 billion. CVS stock ticked down about 0.5% on the news.
Frontline –The shipping stock surged greater than 24% in premarket trading after Frontline announced that it was terminating its combination with Euronav. Frontline CEO Lars Barstad said that each firms “are already having fun with economies of scale.”
CureVac – CureVac shares jumped 19% after the corporate said it plans further patient trials of its mRNA vaccines for Covid-19 and the flu. The corporate also announced that Sanofi veteran Alexander Zehnder will turn into CEO in April.
Boeing — The aerospace giant fell greater than 2% after Morgan Stanley downgraded Boeing to equal weight from chubby, citing a scarcity of potential upside from current levels. “We see a balanced risk reward as nearly all of the near- and medium-term positive catalysts for the stock have been realized,” Morgan Stanley said in a note.
Norwegian Cruise Line – Shares dropped 3.3% after a downgrade to underweight from equal weight by Morgan Stanley, which cited concerns over how overcapacity could hurt pricing power. Meanwhile, the firm upgraded competitor Royal Carribean, which added 0.3% within the premarket, to equal weight from underweight.
Coinbase – Coinbase shares last traded flat after rising barely premarket on news that it plans to chop 20% of its workforce. The move marks the second major round of cuts as the corporate looks to trim costs after hitting expansion mode through the bull market.
Sotera Health – Shares soared greater than 58% within the premarket after the corporate announced its subsidiaries got here to agreements to settle greater than 870 cases referring to the exposure of ethylene oxide, a carcinogen, from its Willowbrook facilities. Sotera agreed to pay $408 million and said the settlement will not be an admission that the emissions posed a security hazard.
Bumble — Bumble popped greater than 2% after KeyBanc upgraded the dating app stock to chubby from sector weight, noting: “The competitive environment appears stable, and economic pressures are easing.”
Virgin Orbit — The corporate’s stock tumbled 19% after Virgin Orbit’s satellites launched from British soil fell wanting their goal orbit. “While we’re very pleased with the various things that we successfully achieved as a part of this mission, we’re mindful that we failed to offer our customers with the launch service they deserve,” CEO Dan Hart said.
— CNBC’s Samantha Subin, Alexander Harring, Jesse Pound and Michelle Fox contributed reporting