Check out the companies that make heads for the bell:
Yamana Gold (AUY) – The Canadian gold producer agreed to be acquired by Gold Fields (GFI) in an all-stock deal valued at $ 6.7 billion. Yamana Gold shareholders will receive 0.6 Gold Field for each share they currently hold. Yamana went 14.9% in the premarket, while Gold Fields fell 11.8%.
Credit Suisse (CS) – Credit Suisse denied a Reuters report that it was trying various options to raise capital after a series of losses. Two people with knowledge of the business told Reuters that the bank was in the early stages of weighing options, such as a share sale or the sale of a business unit. Credit Suisse lost 3.8% in premarket action.
Unilever (UL) – Unilever jumped 6.4% in premarket trading after the consumer products company named activist investor Nelson Peltz to its board. Peltz’s Trian Fund Management holds a 1.5% stake in Unilever.
Sanofi (SNY) – The drug maker’s shares fell 3.7% in the premarket after the FDA stopped a trial involving its erectile dysfunction drug Cialis. The trial was to evaluate the conversion of prescription treatment to “over-the-counter” status, with Sanofi saying the stop was related to how the trial was designed.
Nine (NIO) – Nine shares jumped 5.1% in the premarket after Morgan Stanley added the electric car maker’s stake in China to its “tactical idea” list. Morgan Stanley thinks the shares will increase as Covid restrictions are reduced in the Shanghai region, and because the company benefits from new subsidies for buyers of electric cars.
Zoom Video Communications (ZM) – The video conferencing company’s stake received a double upgrade from Daiwa Securities, raising its rating to “outperform” from “underperform”. Daiwa said the recent tech retreat offers opportunities on the horizon, and that growth expectations for Zoom now seem more realistic. Zoom added 1.6% in premarket trading.
American Eagle Outfitters (AEO) – Clothing retailers’ stocks rose 5.7% in the premarket market after a 6.6% drop in revenue Friday. The stock was downgraded to “underweight” from “equivalent” by Morgan Stanley, who feels that reduced guidance from American Eagle management may still be too optimistic.
Sherwin-Williams (SHW) – The paint company’s shares fell 2.3% in pre-market trading after Credit Suisse coverage began with an “underperform” rating. The company said rising interest rates could affect residential and commercial paint demand.