Stocks making the biggest moves premarket: Paramount, SolarEdge, Morphic Holding and more

by | Jul 8, 2024 | Financial

Check out the companies making headlines before the bell. Morphic Holding — Shares surged more than 75% on news that Eli Lilly will acquire the biopharma company in a $3.2 billion deal . The deal will give Eli Lilly access to Morphic’s portfolio of treatments in development, such as those for ulcerative colitis and Crohn’s disease. Eli Lilly shares inched up 0.2% on the news. Paramount Global — Shares added 2% following a Sunday announcement that the media and entertainment company reached a deal to merge with Skydance Media. SolarEdge — The energy company rose 5% after Bank of America upgraded shares to neutral from underperform, citing an attractive entry point for investors. However, the firm said it is looking for a “more tangible” margin and cash flow recovery. ServiceNow — The cloud-computing stock slipped 3% after Guggenheim downgraded ServiceNow to sell from neutral, expressing doubt that the company will see an uptick in its generative artificial intelligence business. “Our field work indicates this is not likely until 2025, if ever,” said analyst John DiFucci. Domino’s Pizza – The pizza chain rose more than 1% in premarket trading after Baird upgraded the stock to an outperform rating. The Wall Street firm said the company’s strong fundamentals have meaningfully increased investor confidence and conviction. Baird highlighted Domino’s P …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines before the bell. Morphic Holding — Shares surged more than 75% on news that Eli Lilly will acquire the biopharma company in a $3.2 billion deal . The deal will give Eli Lilly access to Morphic’s portfolio of treatments in development, such as those for ulcerative colitis and Crohn’s disease. Eli Lilly shares inched up 0.2% on the news. Paramount Global — Shares added 2% following a Sunday announcement that the media and entertainment company reached a deal to merge with Skydance Media. SolarEdge — The energy company rose 5% after Bank of America upgraded shares to neutral from underperform, citing an attractive entry point for investors. However, the firm said it is looking for a “more tangible” margin and cash flow recovery. ServiceNow — The cloud-computing stock slipped 3% after Guggenheim downgraded ServiceNow to sell from neutral, expressing doubt that the company will see an uptick in its generative artificial intelligence business. “Our field work indicates this is not likely until 2025, if ever,” said analyst John DiFucci. Domino’s Pizza – The pizza chain rose more than 1% in premarket trading after Baird upgraded the stock to an outperform rating. The Wall Street firm said the company’s strong fundamentals have meaningfully increased investor confidence and conviction. Baird highlighted Domino’s P …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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