Take a look at some of the biggest movers in the premarket:
Moderna (MRNA) – The drugmaker has begun a study of its Covid-19 vaccine candidate involving adolescents aged 12 to less than 18. Moderna has dosed the first participant in a study expected to enroll 3,000 healthy people. Shares of Moderna was down 1.3% in premarket trading as of 7:35 a.m. ET.
DoorDash (DASH) – The food delivery service's shares remain on watch today, following a successful Wall Street debut Wednesday. DoorDash shares jumped 85% in their first day of trading, after the initial public offering priced at $102 per share. The shares fell 4% in premarket trading as of 7:35 a.m. ET.
Best Buy (BBY) – The electronics retailer was downgraded to "sell" from "neutral" at Goldman Sachs. Goldman emphasizes the call is based on its predictions for the stock price and not a negative view on the company – it calls Best Buy one of the best run retailers in the U.S. It is downgrading the stock, however, on valuation and potentially difficult comps, among other factors. The shares lost 1.8% in premarket trading as of 7:35 a.m. ET.
Walt Disney (DIS) – Walt Disney will unveil a significant amount of planned movie content today, as well as whether each movie will have exclusive theater runs or go directly to streaming service Disney+, according to The New York Times.
Silver Spike Acquisition (SSPK) – The special purpose acquisition company announced a deal to merge with cannabis review site Weedmaps and take it public. The combination will list on Nasdaq and have a value of about $1.5 billion.
Ciena (CIEN) – The networking systems and services company reported adjusted quarterly earnings of 60 cents per share, 3 cents a share short of forecasts. Revenue topped estimates. Ciena said it expected challenging market conditions to remain in the near term, but expressed confidence in the company's ability to perform over the long term. The shares lost 4% in premarket trading as of 7:35 a.m. ET.
Facebook (FB) – Facebook remains on watch, after falling yesterday on news of lawsuits filed by the Federal Trade Commission and 48 states. The lawsuits accuse Facebook of engaging in anti-competitive behavior and seek to force the company to sell both Instagram and Whatsapp. The shares fell 1.7% in premarket trading as of 7:35 a.m. ET.
Starbucks (SBUX) – Starbucks said it saw a "significant" 2021 rebound, with the coffee chain predicting earnings growth of at least 20% for fiscal 2022 and long-term adjusted earnings per share rising by 10% to 12%. The shares gained 3% in premarket trading as of 7:35 a.m. ET.
General Electric (GE) – GE will pay a $200 million Securities and Exchange Commission fine, settling claims that it misled investors about problems in its insurance and power units. GE did not admit or deny any wrongdoing in agreeing to the settlement.
Sony (SNE) – Sony is buying AT&T's (T) animation business Crunchyroll for just under $1.18 billion. It will combine Crunchyroll and its 3 million subscribers with its Funimation Global Group, which currently has 1 million subscribers.
RH (RH) – RH reported quarterly earnings of $6.20 per share, beating the consensus estimate of $5.30 a share. The home furnishings company's revenue also beat estimates. RH continued to see strong demand as consumers remained at home due to the pandemic, but supply chain disruptions impacted its ability to keep up with order flow.
Levi Strauss (LEVI), Ralph Lauren (RL) – The apparel makers both received a double upgrade from Goldman Sachs, which raised its rating to "buy" from "sell." It cited strong brand momentum and an effective shift toward direct-to-consumer marketing for Levi Strauss, while pointing to valuation and underappreciated direct-to-consumer profit margin potential for Ralph Lauren.