Stocks making the biggest moves in the premarket: Kohl's, Snap, Peloton and more
Take a look at some of the biggest movers in the premarket:
Kohl's (KSS) – Kohl's soared 27.3% in premarket trading as takeover interest in the retailer ramps up. Starboard-backed Acacia Research is offering $64 per share for Kohl's, compared to Friday's close of $46.84 a share. People familiar with the matter say private-equity firm Sycamore Partners has reached out with a potential offer of at least $65 per share.
Snap (SNAP) – Snap shares slid 5.3% in the premarket after it was downgraded to «neutral» from «outperform» at Wedbush, which sees various headwinds impacting the social media network operator's revenue growth.
Philips (PHG) – Philips slid 4.2% in premarket action after the Dutch health technology company reported falling profit due in part to supply chain issues that are expected to persist in coming months. Philips did predict a strong recovery in sales for the second half of the year.
Peloton (PTON) – Activist investor Blackwells Capital is calling on Peloton to fire its CEO and seek a sale of the company. The fitness equipment maker's stock is down more than 80% from its all-time high, as it struggles to deal with rapidly changing supply-and-demand dynamics. Peloton fell 2% in premarket trading.
Halliburton (HAL) – Halliburton rose 1.5% in the premarket after the oilfield services company beat top and bottom line estimates for the fourth quarter. Halliburton earned 36 cents per share, 2 cents a share above estimates. Demand for the company's services jumped as oil prices rose. Halliburton also raised its quarterly dividend to 12 cents per share from 4.5 cents a share.
Unilever (UL) – Unilever surged 6.6% in the premarket following reports that Nelson Peltz's Trian Partners has built up a stake in the
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