Novavax, Lordstown Motors, Phillips, Chipotle et autres – –

Novavax, Lordstown Motors, Phillips, Chipotle et autres – –

Find out which companies are making the headlines before the bell:
Novavax (NVAX) – The drugmaker said its Covid-19 vaccine was found to be 90% effective overall in an advanced stage trial and 93% effective against the most predominant variants of the virus. It also provided 100% protection against moderate and severe illnesses. Novavax shares jumped 10.4% in the pre-market.

Lordstown Motors (RIDE) – The electric truck maker announced the resignation of CEO Steve Burns and CFO Julio Rodriguez, days after the company warned there were doubts about its ability to continue in business. Lordstown hired a research firm to find replacements for Burns and Rodriguez. Shares fell 8% pre-market.

Phillips (PHG) – Shares of Phillips slipped 4.3% in pre-market action after saying they would recall up to 4 million CPAP machines due to potential toxicity risks. Foam used in sleep apnea treatment devices could degrade and become potentially toxic. The Dutch medical equipment company is the largest producer of CPAP machines.

Chipotle Mexican Grill (CMG) – Raymond James upped the restaurant chain’s shares as ‘strong buy’ instead of ‘outperform’, predicting that recent menu price increases would push second half profit well beyond consensus forecasts. Chipotle shares gained 1.4% pre-market.

Ferrari (RACE) – Goldman Sachs gave the automaker’s stock a double downgrade, downgrading its rating from ‘sell’ to ‘buy’, noting increased capital spending and limited margin for positive earnings revisions . Ferrari fell 2.7% in pre-sale.

GlaxoSmithKline (GSK) – The drugmaker is working with clinical-stage biopharmaceutical company iTeos Therapeutics (ITOS) to develop and market EOS-448, a monoclonal antibody in early development as a possible treatment for cancer. iTeos climbed 60.4% in pre-release.

AstraZeneca (AZN) – The drugmaker’s Covid-19 vaccine has a favorable risk / reward profile for all age groups and especially those aged 60 and over, according to the head of the Covid-19 working group of the European Medicines Agency. Marco Cavaleri said his quote in an Italian newspaper saying the vaccine should not be given to people over 60 had not been interpreted correctly.

Royal Dutch Shell (RDS.A) – The energy giant is considering a sale of Texas shale assets, according to people familiar with the matter who spoke to Reuters. Such could be worth more than 10 billion dollars. Stocks gained 2% in pre-market trading.

Oatly (OTLY) – The oat milk maker has received a mixed batch of initial ratings from a handful of investment firms. Oatly received ratings of “performer” (Oppenheimer), “outperform” (Credit Suisse), “on par” (Morgan Stanley), “overweight” (Piper Sandler), “buy” (Jefferies, Guggenheim), “neutral ”(JPMorgan Chase) and“ sector perform ”(RBC Capital). Everyone agrees on Oatly’s growth prospects, but some companies believe those prospects are already built into the action.

Qualcomm (QCOM) – Qualcomm is ready to invest in British chipmaker Arm if its $ 40 billion deal to be acquired by Nvidia (NVDA) is blocked by regulators, according to the Telegraph newspaper citing CEO Cristiano Amon.

Equinix (EQIX) – Equinix has entered into an agreement for additional joint ventures with the sovereign wealth fund of Singapore to expand its data center operations there. The deal will see the fund invest an additional $ 3.9 billion, bringing the total investment to more than $ 6.9 billion.

NextGen Acquisition (NGAC) – The special-purpose acquisition company is in advanced talks to go public with Sir Richard Branson’s Virgin Orbit, according to Sky News. Sky said a deal valuing Virgin Orbit at around $ 3 billion could be announced in the coming weeks. NextGen shares gained 1.9% pre-market.


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