Stocks making the biggest moves in the premarket: Boeing, Nio, Check Point Software and more
Take a look at some of the biggest movers in the premarket:
Boeing (BA) – Boeing defense workers will vote on a new proposed labor agreement on Wednesday, averting – for now – a strike that could have begun today. Separately, sources tell CNBC the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. Boeing shares jumped 5.4% in the premarket.
Nio (NIO) – Nio rallied 3% in premarket action after the China-based electric car maker announced that it will open its first overseas plant in Europe in September. The plant will be located in Hungary and will make power products for the European market.
Check Point Software (CHKP) – Check Point Software reported better-than-expected revenue and profit for its latest quarter, boosted by a surge in demand for its cybersecurity products amid a worldwide increase in cyberattacks. The stock dipped 4.7% in premarket trading.
Alibaba (BABA) – Alibaba gained 1.6% in the premarket after saying it intended to work to keep its New York Stock Exchange listing. The Chinese e-commerce giant is on a list of companies that could be removed for not meeting auditing requirements.
PerkinElmer (PKI) – The diagnostics and life sciences company rose 1.4% in the premarket after announcing plans to divest several non-core units to private-equity firm New Mountain Capital for $2.45 billion in cash. Separately, PerkinElmer reported better-than-expected sales and profit for the second quarter.
Valvoline (VVV) – The automotive products company announced the sale of its global products business to Saudi Aramco for $2.65 billion in cash. Valvoline gained 2.4% in premarket action.
Global Payments (GPN) – The payments technology company reported better-than-expected second-quarter profit and revenue, and also announced the acquisition of rival fintech company EVO Payments (EVOP) for $34 per share, or $4 billion in cash. Global Payments added 1.6% in the premarket while Evo Payments surged 19.6%.
Edgewell Personal Care (EPC) – Edgewell recalled one of its Banana Boat sunscreen spray products after trace amounts of cancer-causing chemical benzene were found in some samples.
Southern Co. (SO) – Chief Executive Officer Tom Fanning is expected to retire by the end of the year, according to people familiar with the matter who spoke to Bloomberg. Fanning is expected to remain with the utility company in some capacity after stepping down as CEO.
