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Here are some of the biggest movers of the day ahead of Friday’s market open:
Stock gainers:
CarMax Inc. stock
KMX,
is rallying 8.3% toward a nine-month high in premarket trading Friday, after the used car seller reported adjusted first-quarter profit of $1.16 a share, well above the FactSet consensus of 79 cents. Total sales dropped 17.4% to $7.69 billion, but beat the FactSet consensus $7.50 billion, as used vehicle sales fell 14.4% to $6.00 billion while wholesale vehicle sales declined 28.5% to $1.51 billion.
Conformis Inc.
CFMS,
stock shot up by 90.5% to pace all premarket gainers in active trading Friday, after the orthopedic patient care company announced an agreement to be acquired by Restor3d for a 96% premium. Restor3d will pay $2.27 in cash for each Conformis share. The price is 95.7% above Conformis’s Thursday closing price of $1.16. ”
Trupanion Inc.
TRUP,
stock jumped 16% in premaket trading after the pet-insurance provider announced that California and New York approved double-digit rate increases, saying that the hikes were “necessary in today’s rising cost of veterinary care environment.”
Shares of Smith & Wesson Brands Inc.
SWBI,
jumped 8% after the gun maker reported fiscal fourth-quarter results that topped expectations and said its board approved a 20% dividend hike
GSK
GSK,
shares rose more than 5% in premarket trading after the pharmaceutical group said said Friday it has reached a confidential settlement over a lawsuit involving heartburn treatment Zantac and accusations that it causes cancer. The case, which was filed in a California state court, will be dismissed, the company said. Shares of Haleon PLC
HLN,
and Sanofi
SNY,
also affected by litigation fears, rose modestly.
3M Co. shares
MMM,
rose 3% after the materials and chemicals company, and Dow Jones Industrial Average
DJIA,
component, offered $10.3 billion to settle claims it was responsible for so-called “forever chemicals” in drinking water.
Stock decliners:
Shares of Virgin Galactic Holdings Inc.
SPCE,
dropped 15% in premarket trading after the space-tourism company said late Thursday in a filing it’s seeking to raise $400 million to scale up its business and improve its fleet.
Canopy Growth Corp. shares were down 2% after the Canadian pot producer reported another quarter of deeper-than-expected losses and weaker sales.
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