Take a look at some of the biggest pre-market movers:
Signify Health (SGFY) – Signify Health jumped 37.5% in premarket trading as a potential bidding war escalates for the home health service provider. Amazon.com (AMZN) and UnitedHealth (UNH) would now be among the bidders, according to the Wall Street Journal, which previously reported that CVS Health (CVS) was eyeing Signify.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond slips another 10.2% in premarket trading after Friday’s drop of more than 40%. The sale followed news that investor Ryan Cohen had sold his stake in the home goods retailer. Bloomberg also reports that some suppliers have halted deliveries to Bed Bath & Beyond due to unpaid invoices.
AMC Entertainment (AMC) – Shares of the movie theater chain fell 30.6% pre-market ahead of the launch of AMC’s so-called “APE” preferred stock units. CEO Adam Aron tweeted a reminder to investors that the total value of their AMC holdings would be a combination of the common stock and the new units, which were granted as a special dividend. AMC shares have also come under pressure due to financial difficulties surrounding Cineworld, the UK parent company of US cinema chain Regal Cinemas.
Ford (F) – Ford lost 2.8% in premarket following a jury decision on Friday assessing a $1.7 billion verdict against the automaker. The case involved a fatal accident centered on the strength of the roof of older models of Super Duty pickup trucks.
Occidental Petroleum (OXY) – Occidental Petroleum gave up 1.4% in premarket shares after a nearly 10% gain on Friday. This followed news that Warren Buffett’s Berkshire Hathaway (BRK.B) had received clearance from regulators to buy up to 50% of the energy producer. Berkshire is already Occidental’s largest shareholder.
Tesla (TSLA) – Tesla CEO Elon Musk has said the price of the company’s Full Self Driving software will increase by $3,000 to $15,000 next month following the widespread release of an updated version. software update. Tesla shares fell 2.1% premarket.
Netflix (NFLX) – Netflix fell 2.4% in premarket trading after CFRA downgraded the stock to “sell” from “hold.” The company said Netflix would likely underperform the S&P 500 after jumping 40% from its mid-July lows.
VF Corp. (VFC) – VF was downgraded to “market performance” from “outperformance” at Cowen, who cited uncertainty over VF’s optimistic outlook for its footwear and apparel brand Vans. VF slid 2.6% in premarket action.
DocuSign (DOCU) – The e-signature company was downgraded to “sector perform” from “outperform” at RBC Capital. RBC sees a long way to a turnaround amid problems with execution and the current lack of a permanent CEO, among other issues. DocuSign fell 4.5% in premarket trading.