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Stocks making the biggest moves premarket: Bed Bath & Beyond, Dropbox, Transocean and more

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Check out the companies making headlines in premarket trading.

Bed Bath & Beyond — The beleaguered home goods retailer dropped another 14.1%, adding to several straight days of losses. The latest move comes after CFO Gustavo Arnal committed suicide Friday. Bed Bath & Beyond said in a statement Sunday that Arnal was “instrumental” in guiding the company through the pandemic.

Norwegian Cruise Line Holdings — Shares jumped 1.8% premarket after Stifel called the cruise line a “long-term buying opportunity.”

FedEx — The transportation stock dipped 1.5% after Citi downgraded it to neutral from buy and lowered its price target, citing pressures to earnings per share growth this year.

Transocean — Shares jumped 3.4% after BTIG upgraded the oil services stock to buy from neutral, saying the offshore drilling contractor should improve its balance sheet thanks to better day rates.

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Dropbox — Shares advanced 1.7% after Bank of America initiated coverage of the file storing and sharing service with a buy rating, saying strong free cash flow generation should be attractive to shareholders.

CVS Health — CVS is acquiring in-home health-care company Signify Health in an $8 billion transaction, the two companies said. Shares of CVS rose 0.6% in premarket trading; Signify dipped 0.2%.

Volkswagen — Volkswagen is intending to list sports car brand Porsche in an initial public offering later this year, which could be one of the world’s largest listings this year.

Anheuser-Busch InBev — The Budweiser maker rose 2.4% after HSBC upgraded the Belgian beer maker to buy from hold, saying the stock could surge 30% from here.

Source: CNBC

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