Market Overview

10 Stocks Moving In Thursday's Pre-Market Session

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Gainers

Medivation Inc (NASDAQ: MDVN) shares rose 12.20 percent to $41.95 in pre-market trading amid word of a new report from Bloomberg, saying the company is working with bankers to defend itself against preliminary interest of a takeover. However, Reuters separately reported the company is working with JPMorgan to handle interest from other companies, but said Medivation has no interest in selling itself.

MediciNova, Inc. (NASDAQ: MNOV) rose 8.44 percent to $8.35 in pre-market trading. MediciNova announced after Wednesday's close that the medical journal Drug and Alcohol Dependence published an article detailing positive findings from the company's completed Phase 1b clinical trial of MN-166 in methamphetamine dependence.

ArcelorMittal SA (ADR) (NYSE: MT) shares rose 2.48 percent to $4.54 in pre-market trading. Berenberg upgraded ArcelorMittal from Hold to Buy.

Tesla Motors Inc (NASDAQ: TSLA) shares rose 0.93 percent to $229.00 in pre-market trading. Trip Chowdhry of Global Equities Research expects Tesla Motors' Model 3 to "break all records" in Consumer Tech in terms of pre-order booking dollars. The analyst maintained an Overweight rating on the company, with a $385 price target.

Ball Corporation (NYSE: BLL) shares gained 0.45 percent to $71.22 in pre-market trading. JP Morgan upgraded Ball from Neutral to Overweight.

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Losers

Eagle Bulk Shipping Inc (NASDAQ: EGLE) shares fell 14.80 percent to $0.639 in pre-market trading. Eagle Bulk Shipping announced after Wednesday's close it has reached an agreement with its lenders and holders of its equity to raise $105 million.

Progress Software Corporation (NASDAQ: PRGS) shares fell 8.91 percent to $23.31 in pre-market trading after the company reported downbeat results for its fiscal first quarter and lowered its FY16 outlook. The company announced the retirement of its CFO Chris Perkins.

Movado Group, Inc (NYSE: MOV) shares fell 4.42 percent to $29.00 in pre-market trading after the company the company issued a weak forecast for FY17. Movado reported better-than-expected results for its fourth quarter and raised its quarterly dividend. The company reported a $50 million buyback plan and announced the retirement of its COO Rick Cote.

Square Inc (NYSE: SQ) shares fell 1.99 percent to $14.75 in pre-market trading. BTIG Research downgraded Square from Buy to Neutral and removed the price target of $15.00. Monness Crespi Hardt also downgraded Square from Buy to Neutral.

Micron Technology, Inc. (NASDAQ: MU) shares fell 1.24 percent to $10.35 in pre-market trading. Micron reported a narrower-than-expected loss for its second quarter. However, the company reported downbeat quarterly sales and issued a weak earnings forecast for the current quarter.

Posted-In: #PreMarket Gainers #PreMarket LosersNews Movers & Shakers Pre-Market Outlook Markets Movers

 

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