US Premarket: Palantir, Signify, Baidu and other stocks making biggest moves
- Palantir's shares plunged 15.6% after it reported an unexpected quarterly loss
- Signify Health surged 16.7% as CVS Health is planning a bid
- Avalara fell 4% after it agreed to be acquired by Vista Partners
Shares of the data analytics company plunged 15.6% in the premarket after it reported an unexpected quarterly loss, and lowered its full-year forecast due to the uncertain timing of some government contracts.
Signify Health (SGFY)
The stock price surged 16.7% in premarket action as CVS Health is planning a bid for Signify in an effort to expand in-home health services, according to The Wall Street Journal report. The paper had reported last week that Signify was exploring strategic alternatives including a sale.
Shares of the tax software provider fell 4% in the premarket after it agreed to be acquired by private-equity firm Vista Partners for $8.4 billion, including debt or $93.50 per share. However, the stock had risen 30% since reports of a potential deal first surfaced in early July.
Baidu gained 1.2% in premarket trading after the China-based search engine company received approval to operate driverless taxi services in two Chinese cities, the first such approvals in the country.
First Solar (FSLR)
The solar company’s stock gained 4.2% in the premarket after it was upgraded to “buy” at Guggenheim and to “overweight” at JP Morgan Securities, with both saying First Solar is among those poised to benefit most from the Senate-passed Inflation Reduction Act.
Global Blood Therapeutics (GBT)
The stock gained 4.2% in premarket trading as Pfizer (PFE) will acquire the blood disorder treatments maker for $5.54 billion or $68.50 per share in cash. Global Blood shares surged 88% over the past two sessions following reports that a deal was about to close.
Tyson Foods (TSN)
Shares of the beef and poultry producer surged 2.5% in the premarket after it reported a quarterly profit of $1.94 per share, 4 cents per share shy of estimates. However, revenue exceeded forecasts as beef demand remained high. Chicken volume fell 2.1% but Tyson said that business continues to improve.
Barrick Gold (GOLD)
The mining company’s stock gained 3.2% in premarket action after reporting better-than-expected quarterly results, on the back of higher copper output.