Take a look at some of the biggest moves in the premarket:
Abiomed (ABMD) – Abiomed shares surged 51.6% in premarket trading after agreeing to be acquired by Johnson & Johnson (JNJ) in a deal worth nearly $16.6 billion. J&J will pay $380 per share for the maker of heart, lung and kidney treatments, and will add a contingent value right worth up to $35 per share if certain milestones are met. The J&J share fell 0.7 percent.
Uber technologies (UBER) — Uber rose 8.8% in the premarket after it reported better-than-expected quarterly revenue as gross bookings increased compared to a year ago. Uber reported a quarterly loss, but that was largely due to unrealized losses on equity investments such as its stake in Didi Global.
SoFi technologies (SOFI) – SoFi rose 14.3% in premarket trading, following a smaller-than-expected quarterly loss and revenue that beat analysts’ forecasts. The fintech company also lifted its outlook after adding nearly 424,000 new members during the quarter, bringing its total to more than 4.7 million.
Pfizer (PFE) – Pfizer jumped 4% in premarket trading after a better-than-expected quarter and a better financial outlook. Strong demand for Pfizer’s older drugs helped offset a fall in sales of its Covid-19-related products.
Goodyear tires (GT) – Goodyear fell 8.3% in the premarket after a third-quarter loss. The tire maker said results were affected by higher costs and a stronger US dollar, although that was partially offset by higher prices.
Eli Lilly (LLY) — Eli Lilly beat top and bottom line estimates for the latest quarter, but the drugmaker’s stock fell 2.2% in premarket trading as it cut its full-year forecast. Lilly sees a negative impact from a stronger dollar, increased competition with cancer drugs and lower insulin prices.
Hologically (HOLX) – Hologic surged 7.6% in premarket trading after the medical device maker reported better-than-expected quarterly earnings and gave a positive outlook. Hologic said it saw “unprecedented strength” across its core businesses.
Striking (SYK) — Stryker lost 4.9% in premarket shares after the surgical and medical equipment maker cut its financial outlook, citing the impact of inflation and a stronger U.S. dollar.
Newspaper budget (CAR) – Avis Budget shares rose 3.7% in the premarket after better-than-expected quarterly earnings from the rental car giant amid continued strong travel demand.
Trex (TREX) – Shares of Trex fell 7.5% in premarket trading after the decking and railing materials maker missed both top and bottom line estimates for its most recent quarter. Trex said it reduced production levels and implemented layoffs during the quarter as it adjusted to falling sales.