Check out the companies making headlines before the bell:
Boeing (BA) – A Boeing 737-800 operated by China Eastern Airlines has crashed in the mountains of southern China with 132 people on board, with no immediate word on casualties. Boeing shares fell 5.8% premarket.
Anaplan (PLAN) – Anaplan has agreed to be acquired by private equity firm Thoma Bravo for $10.7 billion, or $66 per share in cash. The business planning software company’s stock had closed at $50.59 per share on Friday, and the stock jumped 28.3% premarket.
Nielsen Holdings (NLSN) – Nielsen fell 18.6% in premarket trading after rejecting a $9.13 billion takeover bid, worth $25.40 per share, to a private equity consortium. Nielsen said the offer significantly undervalued the company, best known for its TV ratings.
Alleghany (Y) – Berkshire Hathaway (BRK.B) is buying the insurance company for $11.6 billion in cash, or $848.02 per share, from $676.75 per share at Alleghany’s close on Friday . Alleghany will operate as an independent subsidiary of Berkshire.
General Motors (GM) – GM has purchased Softbank’s $2.1 billion stake in its Cruise driverless car division. It also announced that it would invest an additional $1.35 billion in the cruise, replacing funds that Softbank had pledged to provide. GM initially fell more than 1% in the pre-market, but then pared those losses.
SAP (SAP) – SAP fell 2% pre-release. CFO Luka Mucic will leave the German enterprise software company at the end of March 2023.
Manchester United (MANU) – Deutsche Bank has upgraded the football team’s shares to ‘buy’ from ‘hold’, saying Manchester United are undervalued relative to their peers in the sporting events category and in direct. Manchester United gained 1.6% in pre-market action.
Nio (NIO) – Nio said it has no immediate plans to raise prices for its electric vehicles, although the China-based automaker said it would be flexible on pricing . Rivals like Tesla (TSLA) and BYD have recently raised prices due to rising material costs.
BlackBerry (BB) – The communications software company’s stock rose 2.1% pre-market after RBC upgraded it from “sector performer” to “underperformer”, claiming that the stock price is now more aligned with BlackBerry fundamentals.