Take a look at some of the biggest movers in the premarket:
AMC Entertainment (AMC) – AMC is selling 8.5 million shares to investment firm Mudrick Capital for $ 230.5 million after the theater operator’s recent share price surge. AMC plans to use the proceeds to purchase theater assets and leases, as well as possible debt reduction. Shares rose 11% in pre-trading hours.
Cinemark (CNK) – Cinemark is one of those movie chains that saw positive sentiment today after A Quiet Place, Part II topped the weekend box office with more than $ 58 million in ticket sales. That was the highest weekend value for a film since the beginning of the pandemic. AMC, Cinemark and Regal Cinemas have also lifted all mask requirements for fully vaccinated customers. Cinemark gained 1.8% in the premarket.
Cloudera (CLDR) – Cloudera has agreed to be acquired by private equity firms KKR (KKR) and Clayton Dubilier & Rice for $ 16 per share. The cloud-based data analytics firm’s stocks rose 24.8% in pre-market trading.
Canopy Growth (CGC) – Canadian cannabis producer saw sales jump 38% in the fourth fiscal quarter, although the increase was a little less than analysts had expected. Canopy Growth reduced its quarterly loss by 8% and reiterated that it aims to be profitable this fiscal year. The stock rose 1% in pre-trading hours.
Boeing (BA) – Boeing gained 1.8% in the premarket after it was upgraded from “market performance” to “outperform” at Cowen. The company notes the rapid improvement in air travel demand, which will have a positive impact on jet demand.
Nokia (NOK) – Nokia will collect royalties on its patents from automaker Daimler, ending a lawsuit between the two companies. The terms of the settlement were confidential, but the deal will add to the $ 1.7 billion annual Nokia makes through patent licenses.
3M (MMM) – A judge on 3M’s side in the second trial that sold earplugs to the military. 3M was hit by more than 230,000 allegations that the earplugs were faulty and causing hearing problems, and the first trial resulted in a $ 7.1 million judgment in favor of three veterans.
The Honest Company (HNST) – The natural products company is the subject of recent – and positive – analyst reports at several Wall Street firms, with Citi and Jefferies rating the stock “Buy” and JPMorgan Chase and Morgan Stanley “Overweight”. “Everyone mentions strong growth prospects as well as Jessica Alba ‘s role as founder and brand ambassador. The stock gained 1.4% pre-IPO.
Nio (NIO) – Nio delivered 6,711 vehicles in May, a 95% year-over-year increase for the China-based electric vehicle maker. Following these results, Citi upgraded Nio from “neutral” to “buy” and raised its revenue forecast for the company. Competing Chinese electric vehicle maker Xpeng (XPEV) also saw sales accelerate with 5,686 vehicles delivered last month, up 483% year over year. Nio gained 3.9% in premarket trading, while Xpeng gained 4.6%.
Johnson & Johnson (JNJ) – Johnson & Johnson is calling on the Supreme Court to review a $ 2 billion ruling involving talc products that are believed to have caused cancer in a number of users. The court can decide today whether it will allow this review.