Thursday’s Premarket Movers: Pinterest, Sundial Growers
Stock futures rose 0.03% on Thursday one day after the S&P 500 closed yesterday. The cannabis sector has been on the rise over the past week and two cannabis names are on the list this morning.
Here are some of the top movers during Thursday’s premarket trading.
1. Pinterest PINS | Plus + 6%
Shares from Pinterest (PINS) – Get the report rose over 5% in premarket trading after Microsoft reportedly reached out to the social media company about a possible sale, the Financial Times reported.
2. Zillow Group ZG | Plus + 12%
Zillow Group shares (ZG) – Get the report rose over 12% in premarket trading after Deutsche Bank raised its price target for the real estate giant from $ 202 to $ 225.
3. About UBER | Decrease by -1.7%
Shares of Uber (OVER) – Get the report fell early Thursday even after the hail giant reported a smaller fourth quarter loss on Wednesday, aided by strong performance in the grocery delivery business.
According to Uber, gross bookings for mobility were 43% lower in January. However, bookings for the delivery business have more than doubled (up 130%) to $ 10.05 billion.
JPMorgan raised its price target for Uber from $ 64.43 to $ 72.
4. Kraft Heinz KHC | Up + 1.75%
Kraft Heinz shares (KHC) – Get the report rose pre-launch after the food company agreed to sell its Planters nut snacks business to Hormel Foods for $ 3.35 billion in cash.
Chief Executive Officer Miguel Patricio said the move will allow Kraft to focus on areas with greater growth opportunities. The company contributed approximately $ 1.1 billion to Kraft sales in fiscal 2020.
5. Pepsi PEP | Plus + 0.45%
Stocks of Pepsi (PEP) – Get the report Wednesday after the drinks and snacks major reported fourth-quarter earnings that exceeded analysts’ expectations.
Pepsi reported adjusted earnings of $ 1.47 per share, ahead of analysts’ estimate of $ 1.46 per share. Revenue rose 8.8% to $ 22.46 billion, beating the FactSet consensus of $ 21.80 billion.
We ended the year on a strong note as our global beverages business accelerated while our global snacks and groceries business remained stable in the fourth quarter, “said CEO Ramon Laguarta.
6. Molson Coors TAP | -5.3% decrease
Molson Coors shares (TAP) – Get the report fell early Thursday after the brewer reported that adjusted fourth quarter earnings and revenue fell short of analysts’ estimates.
“While uncertainty and local challenges remain, particularly in Europe, we expect 2021 to be both a year of revenue growth and investment,” said CFO Tracey Joubert.
7. Sundial Breeder SNDL | + 46.5% increased
Sundial Growers shares (SNDL) – Get the report jumped in premarket trading Thursday after the cannabis sector rode the wave of Reddits WallStreetBets and its availability to buy at Robinhood while other names are unavailable.
8. Tilray TLRY | Plus + 4.8%
Tilray shares (TLRY) – Get the report Early Thursday after the cannabis sector caught continued attention from traders on Reddit. The stock has gained more than 670% so far this year.