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AT&T, AMC Entertainment, UPS and more

Take a look at some of the biggest pre-market movers:

AT&T (T) – AT&T has announced its intention to divest its stake in the WarnerMedia/Discovery Communications (DISCA) combination to its shareholders when this merger is finalized later this year. Shareholders will receive 0.24 shares of Warner Brothers Discovery for each AT&T share they now own. AT&T also said it would pay an annual dividend of $1.11 per share once the deal closes, up from $2.08 currently. AT&T fell 3.5% premarket.

AMC Entertainment (AMC) – The movie theater operator’s stock rebounded 4.7% in premarket after announcing better-than-expected preliminary results for the fourth quarter. AMC said its results improved as 2021 progressed and the quarter was its strongest in two years.

United Parcel Service (UPS) – UPS shares jumped 7.4% pre-market after beating estimates with its quarterly results, issuing an upbeat forecast and announcing a 49% dividend increase. UPS earned an adjusted $3.59 per share for the fourth quarter, versus consensus estimate of $3.10. Following upbeat results from UPS, rival FedEx (FDX) added 2.5% premarket.

Exxon Mobil (XOM) – The energy giant earned $2.05 a share in the fourth quarter, beating the consensus estimate of $1.93, although earnings fell below Wall Street forecasts. Exxon also announced a new $10 billion share buyback program, resuming buybacks for the first time in more than five years. Its shares gained 1.3% in the pre-market.

Sirius XM (SIRI) – The satellite radio and audio streaming service beat estimates by a penny a share, with quarterly earnings of 8 cents a share. Revenues also exceeded forecasts. Sirius XM announced a special dividend of 25 cents per share, and the stock rose 1% in premarket trading.

UBS (UBS) – UBS shares jumped 6.2% in premarket trading after the Zurich-based bank reported its best annual profit since 2006 and announced plans to increase its dividend as well as its buyback program of shares.

Cirrus Logic (CRUS) – Cirrus Logic reported adjusted quarterly earnings of $2.54 per share, 40 cents above estimates as the semiconductor company’s revenue also came in above estimates. Cirrus also released a stronger-than-expected revenue forecast for the current quarter, but shares fell 4.1% premarket.

New York Times Co. (NYT) – The newspaper’s publisher has announced a deal to buy popular daily word game Wordle for an undetermined amount that the newspaper says is “in the seven figures.” The Times will eventually move the game to its website and apps. The New York Times fell 1.3% in premarket trading.

Pfizer (PFE), BioNTech (BNTX) – Drugmakers could seek approval today to use their Covid-19 vaccine for children under 5, according to people familiar with the talks who spoke at the New York Times. The authorization for emergency use could come as early as the end of February. BioNTech added 3.6% pre-market while Pfizer was little changed.

Sanmina (SANM) – Sanmina jumped 4.7% in premarket stock after the diversified manufacturer reported better-than-expected quarterly results and issued an upbeat outlook for the current quarter. Sanmina has seen growth in various segments including industrial, medical, defense and automotive.

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