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Stocks making the biggest moves pre-market: MRNA, KMX, WHR




Check out the companies making headlines before Tuesday.

CarMax — The car dealer’s shares rose 7% on the back of better-than-expected quarterly earnings. CarMax earned 44 cents per share, beating a Refinitiv forecast of 24 cents per share.

Newmont — The stock lost 2.9% in early morning trading on news that Newmont raised the price proposal in its offer to buy Australia’s Newcrest Mining for $19.5 billion, which is 16% higher than Newmont’s original bid. If the deal goes through, it will further secure Newmont’s position as the world’s largest gold producer.

Upstart — Upstart fell about 2% after JPMorgan initiated coverage of the lending stock with an underweight rating, citing a deteriorating lending environment.

Whirlpool — Shares rose more than 2% after Goldman Sachs upgraded Whirlpool to buy from neutral. The bank said its appliance inventory is cheap and could increase by more than 20%.

Moderna – The biotech giant tumbled 4.9% after the company said it is delaying its flu vaccine due to a lack of registered cases in a late-stage trial. The news comes after a company spokesperson told CNBC on Monday that Moderna hopes to release a series of new vaccines targeting cancer, heart disease and other yet-to-be-confirmed conditions by 2030.

LendingClub — The lending platform rose 4.8% after JPMorgan initiated coverage of the stock as overweight. The bank said LendingClub’s recent selloff was likely too harsh as investors grew nervous about financial institutions and the potential for a recession.

Bumble — Shares of the matchmaking company rose 1% after Baird initiated coverage of Bumble and gave it an outperform rating, noting that the stock has lagged the S&P 500 this year and now trades at a “relatively cheap” valuation. The firm assigned Bumble a $23 price target, suggesting the stock will rise more than 23%.

Array Technologies — Shares of the solar company rose 2% after Wolfe Research initiated coverage of Array with an outperform rating. Wolfe said in a note to clients that Array should benefit from the expansion of utility-scale solar generation.

WW International — Shares fell more than 28% after Goldman Sachs said the weight-loss company could triple in value. “WW’s subscriber base and revenue strength have shrunk, but we believe a catalyst for a turnaround has emerged with the new obesity drug solution,” Goldman said.

— CNBC’s Brian Evans, Alex Harring, Sarah Min, Samantha Subin and Jesse Pound contributed reporting.



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