Bed Bath, Dropbox, Transocean and more
Check out the companies making headlines in premarket trading.
Bed Bath & Beyond — The beleaguered home goods retailer fell another 14.1%, adding to several days of losses. The latest move comes after CFO Gustavo Arnal committed suicide on Friday. Bed Bath & Beyond said in a statement Sunday that Arnal was “instrumental” in guiding the company through the pandemic.
Norwegian Cruise Line Holdings — Shares rose 1.8% premarket after Stifel called the cruise line a “long-term buy.”
FedEx — The transportation stock fell 1.5% after Citi downgraded it to neutral from buy and cut its price target, citing pressure for earnings per share growth this year.
Transocean — Shares jumped 3.4% after BTIG upgraded the oil services stock to buy from neutral, saying the offshore drilling contractor should improve its balance sheet thanks to better day rates.
Dropbox — Shares rose 1.7% after Bank of America initiated coverage of the file storage and sharing service with a buy rating, saying strong free cash flow generation should be attractive to shareholders.
CVS Health – CVS is buying home healthcare provider Signify Health in an $8 billion transaction, the two companies said. Shares in CVS rose 0.6% in premarket trading; Signify fell 0.2%.
Volkswagen — Volkswagen intends to list sports car brand Porsche in an IPO later this year, which could be one of the world’s largest IPOs this year.
Anheuser-Busch InBev — The Budweiser maker rose 2.4% after HSBC upgraded the Belgian beer maker to buy from hold, saying the stock could rise 30% from here.
