A paramedic prepares doses of the AstraZeneca vaccine for patients at a walk-in Covid-19 clinic inside a Buddhist temple in the Smithfield suburb of Sydney on Aug. 4, 2021.
Saeed Khan | AFP | Getty Images
Check out the companies making headlines in early trading.
AstraZeneca — Shares of the British pharmaceutical company gained more than 2.7% in premarket trading after the company reported positive results for its drug Dato-DXd in a trial for treating a common type of breast cancer.
Wayfair — Shares gained more than 2% after Bernstein upgraded the home merchandiser to market perform from underperform. The firm cited improving revenue growth and margin commentary.
Chinese e-commerce stocks — U.S.-listed shares of Alibaba and PDD Holdings added nearly 4% in premarket trading, while JD.com rose 3.3%. Bloomberg reported China was considering relaxing rules that limit foreign investment into domestic publicly traded companies.
Seagen — Shares of the biotech firm rose nearly 4% in premarket trading after the company reported positive topline results from a clinical trial of treatment for patients with previously untreated bladder cancer. The results showed the treatment improved both overall survival and progression-free survival, compared with chemotherapy.
Deere — The tractor manufacturer fell about 1% after Canaccord Genuity downgraded shares to hold from buy, citing slowing growth for large agricultural equipment and normalizing dealer inventories.
Arm holdings — The chip designer’s shares rose 1.3% in premarket trading. Susquehanna initiated a neutral rating on the company in a Friday note. Susquehanna initiated a neutral rating on the company in a Friday note.
Charter Communications — Shares gained about 2% after Wells Fargo upgraded Charter Communications to an overweight rating, saying its mobile roll-to-pay offering and rural growth should contribute to accelerating EBITDA and free cash flows.
Ralph Lauren — The clothing brand’s shares ticked up nearly 1% after Raymond James initiated an overweight rating in a note Thursday evening. Analyst Rick Patel predicts a 20% potential upside from the closing price of Thursday’s shares. Yeti
– Shares fell 0.4% during premarket trading. Jefferies called Yeti the “best-in class” drinkware brand on Friday, even though new players are entering the market.