Examine the businesses that are trading most aggressively before the market opens.
Boots Alliance Walgreens — The retail drugstore chain’s stock fell by approximately 7% after the business cut its full-year earnings outlook from $4.45 to $4.65 per share to $4 to $4.05 per share. Additionally, it announced adjusted earnings per share for the third quarter of its fiscal year of $1, falling short of the $1.07 Refinitiv projection.
Shares of Kellogg increased 2.5% in premarket trade following a buy rating upgrade from Goldman Sachs. According to the company, Kellogg was “mispriced” in comparison to the prospective chance for development provided to investors.
Lordstown Motors — Following the American electric truck manufacturer’s filing for bankruptcy protection and subsequent lawsuit against Foxconn of Taiwan, the stock of Lordstown Motors fell 61% in the premarket.
When Delta Air Lines predicted full-year adjusted earnings of $6 per share, which was at the top end of previous forecasts, the travel stock increased by approximately 1% in premarket trade. The company justified the more upbeat outlook by pointing to strong demand and clients upgrading to more expensive share classes.
American Equity Investment Life — After Bloomberg reported that Canadian investment firm Brookfield was close to striking a deal to acquire the insurance company for about $4.3 billion, the stock soared 15% in premarket trading.
— Eli Lilly In the early going, shares increased 1.5%. Retatrutide, an experimental medication from Eli Lilly, helped patients drop up to 24% of their body weight after almost a year, according to clinical data revealed on Monday.
Hotels & Resorts Host Following Morgan Stanley’s downgrade from equal weight to underweight, shares dropped by about 2%. The Wall Street firm stated that it anticipates declining trends in important markets and more supplier competition compared to its peer group.
— Michael Bloom, Brian Evans, Jesse Pound, and Sarah Min all contributed reporting for CNBC.