Back
Finance

Pre-Market Stock Movers: GSK Acquires Nuvalent; Pentagon Adds Chinese Firms to List

Generated on: Last updated: 3 sources
View source

Pre-Market Stock Moves: A Snapshot of Corporate Action, Earnings, and Government Listings

Several companies reported notable pre-market stock movements, driven by corporate actions, quarterly earnings, and a Pentagon listing of Chinese firms.

Corporate Actions

  • Nuvalent: Shares surged approximately 39% in pre-market trading after GSK announced a $10.6 billion acquisition of the company.
  • Palantir Technologies: The AI-powered software provider's stock rose 11% after reporting fourth-quarter adjusted earnings of 25 cents per share, beating the 23-cent consensus. Revenue reached $1.41 billion, also above estimates.
  • J.M. Smucker: Shares rose 3.5% after reporting adjusted EPS of $2.77 (estimate: $2.64) on revenue of $2.27 billion (estimate: $2.26 billion).
  • Vail Resorts: Shares fell 4.9% after reporting adjusted EPS of $8.81 (estimate: $8.96), with revenue in line at $1.21 billion.

Pentagon List Addition

The U.S. Pentagon added several Chinese companies to a list of entities identified as aiding the Chinese military. Pre-market stock movements:

  • Alibaba: Shares rose 0.9%.
  • Baidu: Shares rose more than 1%.
  • BYD: No price movement was reported.

Earnings and Outlook

  • SailPoint: Shares fell more than 12% after issuing full-year guidance. The company forecast adjusted EPS of $0.30 to $0.34 (estimate: $0.32) and revenue of $1.265 billion to $1.275 billion (estimate: $1.27 billion).
  • Merck: Shares decreased by approximately 1% after projecting 2026 revenue between $65.5 billion and $67 billion, below the $67.6 billion consensus. The outlook cited anticipated loss of patent protections and increased generic competition.
  • PepsiCo: Shares decreased by approximately 1% despite exceeding quarterly earnings and revenue expectations, as the company cited anticipated declines in sales volumes.
  • Pfizer: Shares decreased by 1% after reaffirming a modest outlook, which outweighed quarterly earnings and revenue that surpassed expectations.

Sector Moves: Chip Stocks

  • The VanEck Semiconductor ETF (SMH) rose 1.8%.
  • Micron Technology shares rose 5%.
  • Qualcomm shares rose 2.6%.