Square (SQ) – The digital payments company has agreed to buy Afterpay in Australia for around $ 29 billion in stock, which represents a premium of around 30% for Afterpay shareholders. Shares of Square fell 4.8% pre-market, but news of the deal pushed shares of U.S. payment firm Affirm (AFRM) up 8.2%.
Zoom Video (ZM) – The video conferencing company has agreed to pay $ 85 million to settle a lawsuit accusing it of violating users’ privacy rights. It also agreed to tighten its security practices to prevent so-called “Zoombombing,” where hackers disrupt Zoom meetings.
General Electric (GE) – GE has completed its previously announced one-for-eight reverse stock split and will begin trading on a post-split basis today.
Moderna (MRNA), Pfizer (PFE), BioNTech (BNTX) – Moderna and Pfizer have both raised prices for their Covid-19 vaccines in their latest supply contracts, according to the Financial Times. Additionally, the Wall Street Journal reported that the Food and Drug Administration is under pressure to give full approval for both vaccines and that could happen within the next month for Pfizer and its partner BioNTech. Moderna grew 2.5% in pre-release, Pfizer gained 1%, while BioNTech jumped 5.1%.
Foot Locker (FL) – The shoe and athletic clothing retailer has announced a deal to buy California-based shoe store chain WSS for $ 750 million and Japanese streetwear brand Atmos for $ 360 million.
Uber Technologies (UBER) – Uber shares gained 1.1% in pre-market trading after Gordon Haskett Research Advisors launched a cover with a “buy” rating. Haskett called Uber a company that continually engages in the daily lives of consumers through its ridesharing and food delivery services.
Capri Holdings (CPRI) – Capri rose 1.2% in pre-release following an upgrade to “buy” from “neutral” at MKM Partners, which noted a series of better-than-expected quarters for the company behind brands like Michael Kors and Versace. MKM also cited an overall improvement in the luxury goods sector.
Discovery (DISCA) – Discovery is in informal talks over a potential bid for UK public broadcaster Channel 4, according to UK newspaper Telegraph.
Robinhood (HOOD) – More than 300,000 users of the stock trading app bought stocks from Robinhood’s initial public offering last week, according to the Wall Street Journal. This represents approximately 1.3% of the company’s funded account base. Robinhood added 1.5% in pre-market trading.
Parker-Hannifin (PH) – The maker of motion control technology and other industrial products is buying British rival Meggitt for around $ 8.8 billion in cash. Parker-Hannifin shares fell 2.2% pre-market.
Li Auto (LI) – The Chinese electric vehicle maker delivered 8,589 vehicles in July, an increase of 125% from July 2020. Li shares in the United States jumped 4.3% in pre- marketing.
First Solar (FSLR) – Shares of the solar power systems maker gained 2.9% in pre-market trading after Susquehanna Financial downgraded stock from “positive” to “neutral,” based on comments management optimistic on demand and prices for solar modules.