Take a look at some of the biggest movers in the premarket:
Amazon.com (AMZN) CEO Jeff Bezos announced that he and his brother Mark will be participating in the first manned space flight of Bezos’ Blue Origin aboard an auction winner on July 20th. Bezos will step down as Amazon CEO from Andy Jassy on July 5th.
US Concrete (USCR) – The concrete supplier approved the purchase by building materials maker Vulcan Materials (VMC) for $ 74 per share in cash, or approximately $ 1.29 billion. That’s a premium of nearly 30% over US Concrete’s closing price of $ 57.14 on Friday. US Concrete stocks rose 27.7% before it went public.
G-III Apparel (GIII) – The apparel maker reported quarterly earnings of 53 cents per share, compared to a consensus estimate of 15 cents per share. Revenue also exceeded Wall Street forecasts. G-III also gave an optimistic outlook for the full year and saw sales growth in sportswear and workwear. The share gained 5.8% in pre-market trading.
Blackstone (BX), Carlyle Group (CG) – The two private equity firms, along with Hellman & Friedman, have agreed to buy medical device company Medline Industries for approximately $ 34 billion including debt, according to people familiar with the matter with The. spoke Wall Street Journal. That would be the largest leveraged buyout deal since the 2008 financial crisis. Separately, the Journal reports that Blackstone will announce a deal to buy data center operator QTS Realty Trust (QTS) for $ 6.7 billion. The QTS share rose by 19.8% in the premarket.
“Meme” Stocks – These stocks will remain in the spotlight after seeing big swings in AMC Entertainment (AMC), Bed Bath & Beyond (BBBY), GameStop (GME), BlackBerry (BB) and Koss Corp (KOSS.) Last week were). The largest pre-market movements came from BlackBerry with an increase of 1.4% and Koss with a decrease of 2.7%.
Lordstown Motors (RIDE) – Lordstown Motors received a warning from Nasdaq for late filing its quarterly report. The electric vehicle manufacturer announced that it would submit its Form 10-Q as soon as possible.
Biogen (BIIB) – The drugmaker’s shares rose 2.2% in the premarket before the Food and Drug Administration was expected on Biogen’s experimental Alzheimer’s treatment, aducanumab. The drug would be the first major drug approved for Alzheimer’s, but some experts say there isn’t enough evidence that the treatment has any significant benefit.
Tesla (TSLA) – Tesla has ceased production of its planned Tesla Model S Plaid +, a high-end version of the Model S with an estimated range of 520 miles. The Tesla Model S plaid – with an estimated range of 390 miles – is slated to hit the market next week.
Microsoft (MSFT) – Microsoft has received antitrust approval for its $ 16 billion deal to purchase artificial intelligence company Nuance Communications (NUAN). Microsoft said reviews are still ongoing in other jurisdictions but is expected to close the deal by the end of 2021.
KKR (KKR) – KKR will purchase airport services company Atlantic Aviation for nearly $ 4.5 billion from current owner Macquarie Infrastructure (MIC) to capitalize on growing demand for private jet services. KKR added 1.5% in premarket measures.
Visa (V) – Visa was upgraded from neutral to overweight at Piper Sandler, saying the payment operator will benefit more from the US vaccine-driven recovery than rival Mastercard (MA). Visa added 1.1% in the premarket.
Peloton (PTON) – The fitness equipment maker was rated a “Buy” in new coverage by Loop Capital, a 40% decrease from its January peak and expectations that the financial impact of the company’s treadmill recalls is likely to be overstated . Peloton gained 1.2% in pre-trading.