Take a look at some of the biggest movers in the premarket:
Ford (F) – The automaker’s stock fell 4.5% in the premarket after it warned that quarterly earnings would take a hit of about $1 billion from increased supplier costs and parts shortages. Those factors contributed to a shortfall in finished vehicles ready to sell.
BioNTech (BNTX), Moderna (MRNA) – The vaccine makers are seeing shares fall again this morning, after sliding yesterday on President Joe Biden’s comment that the pandemic was “over.” BioNTech fell 2.4% in premarket trading, with Moderna off by 2.1%.
Change Healthcare (CHNG) – The health care technology firm’s stock rallied 7.5% in premarket action after a federal judge ruled against the Justice Department’s antitrust challenge to UnitedHealth’s (UNH) planned $13 billion acquisition of the company.
Cognex (CGNX) – Cognex shares jumped 4.7% in the premarket after the maker of machine vision systems and sensors raised its current-quarter revenue outlook. The move comes amid a faster-than-expected inventory recovery from a fire at Cognex’s primary contract manufacturer.
Nike (NKE) – Nike lost 2.2% in premarket trading after Barclays downgraded the stock to “equal weight” from “overweight,” noting continued volatility for the athletic footwear and apparel maker in China as well as demand erosion in North America and elsewhere.
Western Digital (WDC) – The disk drive maker’s shares fell 1.7% in the premarket following a downgrade by Deutsche Bank to “hold” from “buy.” Deutsche Bank said the company’s profit and revenue appear to be coming in at the low end of guidance due to deteriorating demand.
Norwegian Cruise Line (NCLH) – Norwegian jumped 3% in the premarket after Truist Financial upgraded the stock to “buy” from “hold,” pointing to a decrease in cancellations and subsequent rebookings at lower prices.
(With inputs from CNBC)
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