Stocks making the biggest moves premarket: GSK, Nuvalent, J.M. Smucker, SailPoint and more
CNBC • • general
Key Points:
- U.K.-based GSK announced a $10.6 billion acquisition of U.S. drugmaker Nuvalent, causing Nuvalent shares to surge nearly 39%.
- J.M. Smucker Company reported fourth-quarter earnings of $2.77 per share and revenue of $2.27 billion, both exceeding analyst expectations, leading to a 3.5% rise in its shares.
- SailPoint's shares dropped over 12% after issuing cautious full-year guidance, despite first-quarter earnings surpassing estimates.
- The Pentagon added Alibaba, Baidu, and BYD to a list of Chinese companies believed to support the Chinese military, with Alibaba and Baidu shares rising modestly.
- Vail Resorts' shares fell 4.9% following third-quarter earnings that missed estimates, while chip stocks rallied, with Micron Technology up 5% and Qualcomm rising 2.6%.