Stock Market

Take a look at some of the biggest movers in the premarket:

Affirm (AFRM) – Affirm rocketed 41.2% in premarket trading after the digital payments specialist announced a partnership with (AMZN) that will allow Amazon customers to pay over time for purchases of $50 or more.

Moderna (MRNA) – Moderna fell 2.7% in the premarket after 1 million more Covid-19 vaccine doses were pulled from circulation in Japan on contamination concerns. An initial withdrawal of 1.63 million doses had taken place last week after foreign substances were found in some batches, with contamination now linked to two deaths. Spain’s Rovi, which bottles the vaccines for markets outside the U.S., said it is investigating the issue.

Globalstar (GSAT) – The satellite services provider soared 41.3% higher in premarket action following a report in AppleInsider that the iPhone 13 will have the ability to utilize satellite communications.

Li Auto (LI) – Li Auto reported a smaller-than-expected loss and revenue that exceeded analysts’ forecasts for its latest quarter. The China-based electric vehicle maker also said it delivered 17,575 vehicles during the quarter, a 166% increase over a year earlier. Li Auto shares gained 2.3% in premarket trading.

Hill-Rom (HRC) – Hill-Rom is in advanced talks to be acquired by health-care products maker Baxter International (BAX), according to people familiar with the matter who spoke to The Wall Street Journal. The potential deal for the medical equipment maker is about $10 billion or $150 per share, compared to Hill-Rom’s Friday close of $132.90. Hill-Rom rallied 8.7% in the premarket.

Weber (WEBR) – The grill maker, which went public earlier this month, is up 3.8% in premarket trading after Goldman Sachs initiated coverage with a “buy” rating and J.P. Morgan Securities rated the stock “overweight.” The firms cited Weber’s leading position in the global market as well as pricing power.

Levi Strauss (LEVI) – The apparel maker’s shares rose 1% in the premarket after Wells Fargo initiated coverage with an “overweight rating.” Wells Fargo points to a consensus that a new denim cycle has taken hold, and the company’s position as one of the higher quality global brands.

Catalent (CTLT) – The contract drug manufacturer struck a deal to buy nutritional supplement maker Bettera from private-equity firm Highlander partners for $1 billion. Separately, Catalent reported better-than-expected earnings and revenue for its fiscal fourth quarter, and the stock jumped 2.2% in the premarket. (SPRT) – surged 46.2% in the premarket after the provider of technical support saw its stock rise for the past seven sessions in a row and jump 223% over that stretch. There has been no news of significance from the company over that stretch.

Generac (GNRC) – Generac remains on watch after rising for the past eight sessions in a row, with the maker of backup generators benefiting from demand increases stemming from weather-related disruptions. The stock has jumped 12.1% during the win streak.