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Stocks making the biggest moves in the premarket: Virgin Galactic, Krispy Kreme, Apollo Global & more

Stocks making the biggest moves in the premarket: Virgin Galactic, Krispy Kreme, Apollo Global & more

02 Jul 2021

Take a look at some of the biggest movers in the premarket:

Virgin Galactic (SPCE) – Virgin Galactic shares soared 28.2% in the premarket after it announced that founder Richard Branson plans to be aboard a planned July 11 space flight. The flight would be 9 days before a scheduled Blue Origin flight would take its founder, Amazon’s Jeff Bezos, into space.

Didi (DIDI) – The China-based ride-hailing company’s shares gave up a premarket gain, following news that China’s Cyberspace Administration will conduct a cybersecurity investigation into Didi’s operations. It has also asked Didi to cease new user registrations while the investigation is taking place. Didi shares tumbled 5.5% in the premarket following that news.

Krispy Kreme (DNUT) – The donut chain’s shares fell 5% in premarket trading, giving back a portion of the 23.5% gain registered in Thursday’s first day of trading. Krispy Kreme returned to the public markets yesterday, five years after being taken private.

Apollo Global (APO) – The private-equity firm announced it would buy a stake of up to 24.9% in financial technology investor Motive Partners, with The Wall Street Journal reporting that the transaction values Motive at about $1 billion. Apollo fell 2.4% in the premarket.

Johnson & Johnson (JNJ) – J&J said its Covid-19 vaccine showed promise against the Delta variant and other emerging strains of the virus. It also said immune response among vaccine recipients lasted at least eight months.

Raytheon Technologies (RTX) – The defense contractor won a $2 billion Air Force contract to produce a nuclear-armed cruise missile. Design and manufacturing of the missile are expected to be completed in February 2027.

Verizon (VZ) – Verizon told regulators it would continue to support low-cost wireless service if it is allowed to complete its $6.9 billion deal to buy prepaid mobile phone provider Tracfone.

Tesla (TSLA) – An attorney for a Pennsylvania driver told Reuters that a Tesla Model S Plaid model burst into flame while the owner was driving, just three days after it was delivered. Tesla did not have an immediate comment.

GlaxoSmithKline (GSK) – The drugmaker responded to a letter sent by activist investor Elliott Advisors, saying it welcomes all constructive input from shareholders that supports the creation of long-term value. Elliott had disclosed a stake in Glaxo earlier this week and urged it to consider selling its consumer health care unit, among other suggestions.

PNC Financial (PNC) – The banking company received a double upgrade from Wolfe Research to “outperform” from “underperform.” Wolfe feels PNC’s earnings outlook is especially upbeat due to the acquisition of the U.S. unit of Spanish bank BBVA.

CureVac (CVAC) – The German drugmaker’s stock slumped 4.1% in the premarket, adding to Thursday’s 7.7% slide. That followed news that its Covid-19 vaccine saw 48% efficacy in updated study results, only slightly improved from initial results.