tiprankstipranks
Thursday’s Pre-Market: Here’s What You Need To Know Before The Market Opens
Market News

Thursday’s Pre-Market: Here’s What You Need To Know Before The Market Opens

US stock futures were trading in positive territory in Thursday’s pre-market trading session as Wall Street chose to ignore the uncertainty associated with the COVID-19 relief package after President Donald Trump slammed some provisions and suggested that direct checks to adult Americans should be increased to $2,000 from $600.

Futures tied to the S&P 500, Dow Jones Industrial Average and the Nasdaq 100 advanced 0.20%, 0.17% and 0.11%, respectively.

Shares of Senseonics Holdings (SENS) popped 46.5% in Thursday’s pre-market trading after the medical technology company raised its 4Q sales projection to $3.5 million from the prior outlook of $2.5 million. CEO Tim Goodnow stated, “Strong fourth quarter performance was driven by sales in Europe and supported by Ascensia’s initial US sales.” The company continues to expect to generate revenue of between $12 million-$15 million in 2021.

Meanwhile, Senseonics also announced that the approval for the Eversense 180-Day product has been delayed by at least 60 days due to pandemic-related issues at the US Food and Drug Administration (FDA). The company expects the FDA to make a decision by the end of 2Q21.

On the COVID-19 vaccine front, yesterday, Health Canada approved Moderna’s (MRNA) mRNA-1273 COVID-19 vaccine for the immunization of people 18 years of age and older under an interim order. Health Canada’s authorization was based on the totality of scientific evidence shared by the company, including a data analysis from the pivotal Phase 3 clinical study announced last month.

Earlier this month, the Canadian government exercised its option to double its order of Moderna’s COVID-19 vaccine to 40 million doses. Canada’s approval for Moderna’s COVID-19 vaccine follows the FDA’s emergency use authorization last week.  

Cloudera (CLDR) shares advanced 2.9% pre-market as the company bought back Intel’s entire stake in the company for $314.1 million. The company repurchased 26 million of its common stock from Intel for $12.05 per share. Cloudera stated that the transaction will not impact the existing commercial or partner relationship with Intel.

American Tower Corp. (AMT) has completed the acquisition of InSite Wireless Group, LLC for about $3.5 billion, including the assumption or repayment of debt. The deal was funded by a combination of cash and a revolving credit facility. American Tower expects the assets acquired from InSite to generate property revenue of $150 million and gross margin of about $115 million in 2021.

Shares of LiveXLive Media (LIVX) were trending higher in Thursday’s pre-market trading after the company announced that it was exploring potential strategic opportunities including acquisitions, partnerships or other transactions to grow its business. The digital media company has appointed J.P. Morgan as its financial advisor.

Meanwhile, Sociedad Quimica Y Minera’s (SQM) shares were down about 7% pre-market as the company announced that the board has approved initiating the process to raise $1.1 billion capital from a share sale. The company plans to use the proceeds to finance its $1.9 billion investment plan for the expansion of its lithium, iodine, and nitrate operations in Chile during 2021-2024. The company will call an extraordinary shareholders meeting on Jan. 22 to approve a proposal to issue 22.4 million of Series B shares.

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles