Tuesday’s Pre-Market Insights: Shake Shack Inc (SHAK), Seadrill LTd (SDRL), Cerulean Pharma Inc (CERU), Time Warner Inc (TWX)
Investors have been reaping profit from Shake Shack Inc (NYSE:SHAK) shares have surged 30% since May 15. The fast casual burger chain beat expectations in its first quarter report for both EPS and revenue, although 2015 was slightly lower than expected. Shake Shack shares are down 3% in Tuesday’s pre-market to $90.
Seadrill Ltd (NYSE:SDRL) shares are down 3% to $12.92 per share after oil prices dropped to $65 a barrel due to rumors about increased drilling activity and a stronger U.S. dollar. The offshore drilling company is scheduled to release its 1Q15 earnings on Thursday after market close. Analysts are wary about the impact lower oil prices over the past few months will have on the stock as the company already had to suspend its dividend until oil prices rebound.
Cerulean Pharma Inc (NASDAQ:CERU) shares increased about 13.5% to $6.90 in pre-market trading following an announcement that the pharmaceutical company will be announcing preclinical data on CRLX101, a nanomedicine approach to chemotherapy, at the AACR meeting in Philadelphia on April 18-22.
Time Warner Inc (NYSE:TWX) shares are up 9.18% to $186.90 in pre-market trading following news that the company will be bought out by Charter Communications for about $195 a share, or $56.7 billion total. The deal includes a $2 billion breakup fee. The merger will turn the company into one of the largest cable companies in the U.S.