Check out the companies that are making the headlines before the bell:
AstraZeneca – The UK became the first country to approve the drugmaker’s Covid-19 vaccine, paving the way for millions of doses to be launched. The vaccine has not yet been approved in the US, and the FDA has yet to review large-scale studies. The stock rose 2% at 7:40 p.m. ET.
Intel – The chipmaker’s stocks remain in the spotlight for a second day after it was revealed that hedge fund Third Point has acquired a significant stake in Intel and has urged management to consider strategic alternatives. The news sent stocks up about 5% in trading on Tuesday. Shares were slightly lower around 7:40 a.m. ET.
Fox Corp. – The company’s Fox News Channel topped the news and cable categories for the fifth consecutive year, according to Nielsen. AT & T’s CNN unit beat Fox News in the overall daily rating for 41 days following the November 3rd presidential election.
Apple – A judge dismissed Apple’s claims of copyright infringement against a security software startup in Florida. Apple alleged that Corellium’s software amounted to making unauthorized copies of the iOS operating system and running on unauthorized devices. The stock was up a fraction of 1% at 7:40 a.m. ET.
AMC Entertainment – The theater operator requested a “shelf offer” for common stock and said it could sell up to 50 million of its Class A shares at its discretion. AMC shares had gained more than 1% at 7:40 a.m.CET.
Caterpillar – Baird called the heavy equipment maker a “Top 2021 Idea” and raised its price target for the stock from $ 206 to $ 220 per share. The company said demand in key markets is expected to recover. The numbers for 2020 can be easily exceeded on a comparable basis. The stock rose nearly 1% at 7:40 a.m. ET.
Alibaba – Alibaba stocks continue to rally and rise in premarket trading after rising over the past two sessions. The stock fell more than 13% on Thursday after it was revealed that the e-commerce giant was the subject of heightened antitrust scrutiny by the Chinese government. Alibaba stock gained 2.5% at around 7:40 a.m. CET.
JD.com – The Chinese e-commerce company is investigating a possible spin-off of its JD Cloud & AI unit, according to an SEC report. The company’s stock had gained more than 1% at 7:40 a.m. CET.
Microvision – The developer of laser scanning technology announced that it has entered into an at-the-market share offer agreement with Craig-Hallum Capital that can sell up to $ 13 million worth of common stock at its discretion. The shares lost 7.5% in premarket trading as of 7:40 a.m. ET.
CureVac – The German biotech company’s stock is among those vaccine-related stocks rising this morning, and Moderna is rising too. CureVac is in the middle of a mid to late study of its vaccine candidate. By 7:40 a.m. ET, CureVac shares had gained 6% and Moderna shares had gained nearly 3%.
Levi Strauss – Guggenheim raised its price target on the stock from $ 20 to $ 24 per share, with the apparel maker’s stock closing at $ 19.83 on Tuesday. Guggenheim currently rates Levi Strauss as a “buy”.
McCormick – The spice maker announced it has acquired natural flavor maker FONA International for $ 710 million in cash.