Take a look at some of the biggest movers in the premarket:
Zynga (ZYNG) – The online game maker's shares soared 48.2% in the premarket after it agreed to be acquired by video game maker Take-Two Interactive (TTWO) for $9.86 per share in cash and stock, implying a total deal value of $12.7 billion. Take-Two tumbled 8.9%.
Lululemon (LULU) – The athletic apparel maker said it now expects fourth-quarter earnings and revenue to come in at the low end of its projected ranges, saying it had experienced a number of negative consequences from the spread of the Covid-19 omicron variant. Lululemon slid 6.5% in premarket action.
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Apria (APR) – The home health care services provider agreed to be acquired by health-care equipment and services company Owens & Minor (OMI) for about $1.45 billion in cash, or $37.50 per share. Apria had closed Friday at $29.72 per share, and its stock surged 24.5% in premarket trading. Owens & Minor shares slumped 9.1%.
Tilray (TLRY) – Tilray gained 3.6% in premarket trading after reporting an unexpected quarterly profit. Revenue increased by 20% from a year earlier on stronger demand for cannabis products, although its sales were below analysts' forecasts.
Beam Therapeutics (BEAM) – Beam shares jumped 5.3% in the premarket following the announcement of a new partnership with Pfizer (PFE). Pfizer will collaborate with Beam – which specializes in gene editing – to develop therapies for rare genetic diseases.
Money Report
ViacomCBS (VIAC) – ViacomCBS rallied 3.2% in the premarket after Deutsche Bank upgraded the media company's stock to "buy" from "hold," based on upbeat prospects for its streaming business and the likelihood of continuing industry consolidation.
Sinclair Broadcast Group (SBGI) – Sinclair is close to finalizing a deal to carry NBA games on its planned new streaming app, according to a Bloomberg report quoting people familiar with the matter. The deal could be announced as soon as this week. Sinclair gained 1.4% in premarket action.
SolarEdge Technologies (SEDG) – SolarEdge was added to the "Conviction Buy" list at Goldman Sachs, which raised the price target for the solar equipment company's stock to $448 per share from $420 a share. Goldman cites improvements in battery storage capacity as well as the company's prospects for increasing profit margins. SolarEdge rose 2.4% in the premarket.
Shockwave Medical (SWAV) – Penumbra (PEN) is exploring a combination with its rival medical device maker, according to people with knowledge of the matter who spoke to Bloomberg. However, Penumbra told Bloomberg in an emailed statement that it is not in discussions with Shockwave to pursue a business combination or similar transaction. Shockwave jumped 6% in premarket trading.
Dell Technologies (DELL) – Bernstein upgraded Dell to "outperform" from "market perform," noting Dell's approximately six-week backlog in its PC business as well as a relatively high mix of commercial versus consumer business. Dell added 2.4% in the premarket.
