Today's Pre-Market Stock Movers: CVAC, BA, OSH, NCLH and More
Gapping up
$Oak Street Health (OSH.US)$ +36% (A Bloomberg report says that $CVS Health (CVS.US)$ is exploring options to buy the health care company for more than $10 billion.)
$Frontline (FRO.US)$ +24% (Frontline announced that it was terminating its combination with Euronav. Frontline CEO Lars Barstad said that both companies "are already enjoying economies of scale.")
$CureVac (CVAC.US)$ +19% (the company said it plans further patient trials of its mRNA vaccines for Covid-19 and the flu. The company also announced that Sanofi veteran Alexander Zehnder will become CEO in April.)
$Sotera Health Company (SHC.US)$ +58% (The company announced its subsidiaries came to agreements to settle more than 870 cases relating to the exposure of ethylene oxide, a carcinogen, from its Willowbrook facilities. Sotera agreed to pay $408 million and said the settlement is not an admission that the emissions posed a safety hazard.)
$Bumble (BMBL.US)$ +2% (KeyBanc upgraded the dating app stock to overweight from sector weight, noting: "The competitive environment appears stable, and economic pressures are easing.")
Gapping down
$Boeing (BA.US)$ -2% (Morgan Stanley downgraded Boeing to equal weight from overweight, citing a lack of potential upside from current levels. "We see a balanced risk reward as the majority of the near- and medium-term positive catalysts for the stock have been realized," Morgan Stanley said in a note.)
$Norwegian Cruise (NCLH.US)$ -3.3% (The company received a downgrade to underweight from equal weight by Morgan Stanley, which cited concerns over how overcapacity could hurt pricing power. Meanwhile, the firm upgraded competitor Royal Carribean to equal weight from underweight.)
$Virgin Orbit (VORB.US)$ -19% (Virgin Orbit's satellites launched from British soil fell short of their target orbit. "While we are very proud of the many things that we successfully achieved as part of this mission, we are mindful that we failed to provide our customers with the launch service they deserve," CEO Dan Hart said.)
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