Switch (SWCH)

Switch shares dropped 2.2% in premarket trading after Wells Fargo Securities downgraded the stock to “equal weight” from “overweight”. The securities firm said a buyout of Switch is possible but the price would likely be no higher than $32 to $34 per share.

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Honest Company (HNST)

Honest Company shares plunged 19.5% in the premarket trading after reporting an unexpected quarterly loss as sales of sanitizing products and masks fall significantly. It also issued weaker-than-expected guidance for the ongoing quarter.

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Nio (NIO)

NIO shares slipped 3.6% in premarket trading after the China-based electric car maker reported strong quarterly sales but deliveries below expert estimates.

Bed Bath & Beyond (BBBY)

BBBY shares surged 1.4% in premarket action as the company moves close to a settlement with investor Ryan Cohen, reported Bloomberg. According to the agreement, three new directors will be appointed to the housewares and personal care products retailer’s board. Cohen’s RC Ventures owns a 9.8% stake in Bed Bath & Beyond.

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Teva Pharmaceutical (TEVA)

The generic drug maker’s stock climbed 4.2% in the premarket after Bernstein upgraded the stock to “outperform” from “market perform,” considering an improved balance sheet, new product launches and the potential of settling opioid litigation.

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Shaw Communications (SJR)

Shaw Communications’ stock jumped 2% in the premarket action after Canadian regulators gave conditional approval to the acquisition of Shaw’s broadcasting services by Canadian telecom giant Rogers Communications (RCI) for $16 billion.

Fortinet (FTNT)

The shares slipped 2.1% in the premarket trading. The cybersecurity company’s stock was downgraded to “neutral” from “buy” at Bank of America Securities. It said strong results are already reflected in the stock’s price.

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Cannabis stocks

In the premarket, marijuana producers are extending their Thursday rally following a report that the House will vote for a second time next week to legalize cannabis. It was passed by the House in 2020, but not by the Senate. Tilray (TLRY) gained 14.1% in the premarket, Aurora Cannabis (ACB) surged 10.2%, Sundial Growers (SNDL) rose 12% and Canopy Growth (CGC) rallied 9.6%.

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US-listed China stocks

China stocks remain volatile amid concerns about possible US delistings and tighter regulation from Chinese authorities. Alibaba (BABA) slipped 3.4% in premarket action, with JD.com (JD) fall 4.2%, Pinduoduo (PDD) fall 6% and Didi Global (DIDI) lost 7.1%.