Stocks making the biggest moves premarket: Moderna, CarMax, Whirlpool and more
CarMax Shares of the vehicle retailer soared 7% on the back of better-than-expected quarterly earnings. CarMax earned 44 cents per share, beating a Refinitiv forecast of 24 cents per share.
Newmont — The stock lost 2.9% in early morning trading on news that Newmont raised its price proposal in its offer to acquire Australia’s Newcrest Mining for $19.5 billion, which is 16% higher than Newmont’s initial bid. If the deal goes through, it would further secure Newmont’s position as the world’s biggest gold producer.
Upstart — Upstart fell about 2% after JPMorgan initiated coverage of the lending stock with an underweight rating, citing a worsening environment for loans.
Whirlpool — Shares gained more than 2% after Goldman Sachs upgraded Whirlpool to buy from neutral. The bank said the appliance stock is cheap and can rally more than 20%.
Moderna — The biotech giant slid 4.9% after the company said it’s delaying its flu vaccine due to a lack of enrolled cases in a late-stage trial. The news comes after a company spokesperson told CNBC on Monday that Moderna hopes to release a slew of new vaccines that target cancer, heart disease as well as other yet-to-be confirmed conditions by 2030.
LendingClub — The lending platform gained 4.8% after JPMorgan initiated coverage of the stock as overweight. The bank said the LendingClub’s recent selloff was likely too harsh as investors grew nervous about financial institutions and the potential for a recession.
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