Check out the companies making headlines before the opening bell:
Metsera, Pfizer — The weight-loss drugmaker soared 60% after announcing it would be acquired by Pfizer for $4.9 billion in cash. This significant deal is expected to close in the fourth quarter, leading to a nearly 3% increase in Pfizer’s shares.
Anywhere, Compass — Brokerage giant Compass is set to take over rival Anywhere, the parent company of Century 21 and Coldwell Banker, for $1.6 billion in an all-stock transaction. The merger is projected to yield an enterprise value of approximately $10 billion, including debt assumptions. Following the announcement, Anywhere shares surged over 50%, while Compass shares experienced a dip of about 9%.
Sarepta Therapeutics — This biotech company saw a 6% increase after BMO upgraded its rating to outperform, predicting that the stock could more than double. According to the investment bank, “SRPT’s current valuation renders its risk/reward skewed to the upside.”
Crown Castle — The cell tower operator added 1.1% following an upgrade from Wolfe Research, which moved its rating to outperform from peer perform. Wolfe highlighted that the stock is currently trading at an attractive entry point.
Kenvue — The maker of Tylenol experienced a 5% decline after a report from the Washington Post indicated that the Trump administration plans to announce a link between the use of the painkiller by pregnant women and autism.
Fox Corporation — In a Sunday interview, President Donald Trump mentioned that conservative media mogul Rupert Murdoch and his son Lachlan, the CEO of Fox Corp., are likely to be involved in efforts to save TikTok in the U.S. As a result, Fox Corp shares gained nearly 4% in premarket trading.
Applied Materials — Shares of this chipmaker rose by more than 1% after Morgan Stanley upgraded its rating from equal weight to overweight. The investment bank noted that Applied Materials is trading at an attractive valuation compared to its peers.
— CNBC’s Alex Harring, Fred Imbert, and Michelle Fox contributed reporting.
Stocks making the biggest premarket moves: MTSR, COMP, KVUE, FOXA
