US Premarket: VMWare, GameStop, HP and other stocks making biggest moves

VMWare (VMW)

Shares of the cloud computing company’s stock rallied
21.3% in premarket action after multiple reports that it is in advance talks to
be bought by chipmaker Broadcom (AVGO). The two companies are reportedly
discussing a cash-and-stock deal which could happen soon, according to a report
by CNBC. Broadcom fell 4.3%.

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Emergent BioSolutions (EBS)

The biopharma company’s stock jumped 11.1% in the
premarket following the increasing concerns about the spread of monkeypox. Emergent
supplies smallpox vaccine, which can be used as protection against monkeypox.

GameStop (GME)

GameStop stock jumped 3.5% in the premarket after the
video game retailer launched a digital wallet for cryptocurrencies and NFTs.

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Autodesk (ADSK)

Shares of the design software company fell 3.9% in
premarket action after RBC slashed its price target on the stock to $255 per
share from $295 per share. RBC said Street earnings estimates may be too high
and that Autodesk needs to establish consistency in its results to gain
investor confidence.

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Electronic Arts (EA)

Shares of the video game maker rose 2.5% in the premarket after Puck News reported that the company was actively seeking a buyer or merger partner. Reportedly, EA has held talks with Walt Disney (DIS), Apple (AAPL) and Amazon (AMZN).

HP Inc. (HPQ)

HP slid 2.7% in premarket trading after the stock was
downgraded to “neutral” from “buy” at Citi, based on moderating demand for PCs
in the near to mid-term.

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Motorola Solutions (MSI)

Motorola Solutions gained 2.5% in the premarket after
Morgan Stanley upgraded the stock to “overweight” from “equal-weight,” with
several favourable trends in place including an increase in demand for video
surveillance.

Pfizer (PFE)

The stock edged higher by 0.25 after Pfizer and partner
BioNTech (BNTX) said three doses of their Covid-19 vaccine offered strong
protection for children under 5, according to primary data. BioNTech gained
1.8% in premarket action.

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Boeing (BA)

Boeing surged 1% in premarket action after its Starliner
spacecraft successfully docked with the International Space Station over the
weekend.