Prism Stocks biggest premarket moves: Nike, CarMax, Robinhood, Alpine Immune Sciences and more

CarMax

— The stock tumbled by 9% as the pre-owned car seller disclosed a disappointing earnings and revenue report for Q4. CarMax’s earnings stood at 32 cents per share, falling short of the 49 cents anticipated by LSEG analysts. Its revenue of $5.63 billion was beneath the estimated $5.8 billion.

Nike

— The company’s shares gained 2% after Bank of America elevated its rating to buy from neutral. The bank believes Nike’s financial projections are attainable and anticipates moderate revenue growth along with margin expansion for the footwear brand.

Robinhood

— Citi’s downgrade to sell led to a near 3% drop in the trading platform’s stock. Analysts stated that the company’s valuation has lost touch with its fundamental outlook, notwithstanding a 44% increase in shares since the beginning of the year.

Constellation Brands

— Shares rose by 1% as the beverage corporation behind Modelo surpassed Q4 expectations, stating its beer venture is excelling. Constellation Brands registered a revenue of $2.14 billion, exceeding the $2.10 billion forecasted by LSEG analysts.

Alpine Immune Sciences

— Alpine Immune Sciences shares skyrocketed almost 37% after Vertex Pharmaceuticals announced it would acquire the company for approximately $4.9 billion in cash. The agreement places Alpine’s stock value at $65, soaring about 67% above its Tuesday’s close, a day prior to Bloomberg’s report on Alpine evaluating its alternatives. Meanwhile, Vertex shares remained stable.

Vera Therapeutics

— The company observed a stock surge of higher than 10% following the announcement of the Vertex/Alpine agreement. Both Alpine and Vera are developing drugs that could potentially address a kidney ailment, IgA nephropathy.

Albemarle

— Berenberg’s upgrade to buy from hold prompted the chemical business’s stock to escalate by 1%. The firm anticipates a rise in Albemarle’s volumes and prices. Berenberg also increased its price target from $130 to $160, implying a prospective increase of over 25%.

Atlassian

— Stock of the collaboration software company leapt 4% after Barclays upgraded it to overweight from equal weight. The banking giant foresees a larger cluster of enterprise customers transitioning to the cloud. Barclays also maintains that hirings within software development should boost cloud revenue opportunities.

DoorDash

— A buy upgrade from neutral by MoffettNathanson triggered a 2% increase in the food delivery service’s shares. Despite apprehensions about impending challenges, the investment research firm expects DoorDash to capitalize on the growing grocery delivery market and foresees an upward revision in profitability projections.

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Prism Stocks biggest premarket moves: Nike, CarMax, Robinhood, Alpine Immune Sciences and more

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