A man walks out of a Walgreens pharmacy in New York City on March 9, 2023.
Leonardo Munoz | Corbis News | Getty Images
Check out the companies making the biggest moves in pre-market trading.
Walgreens Boots Alliance — Shares of the retail pharmacy chain fell about 7% after it lowered its full-year profit guidance to $4 to $4.05 a share, from a previous range of $4.45 to $4.65. The company also reported adjusted earnings per share of $1 for the fiscal third quarter, below the $1.07 forecast by Refinitiv.
Kellogg — The stock rose 2.5% in premarket trading after Goldman Sachs upgraded it to a buy rating. The company said Kellogg was “wrongly priced” compared to the potential growth opportunities it offered investors.
Lordstown Motor Company — Lordstown Motors, the U.S. electric truck maker, filed for bankruptcy protection and sued Taiwan’s Foxconn, crashing the deal and sending the company’s shares down 61% in premarket trading.
Delta Airlines — The travel stock rose about 1% in premarket trading after Delta Air Lines forecast full-year adjusted earnings of $6 a share, at the top end of previous guidance. The company cited strong demand and clients trading into more expensive stock classes as reasons for the more bullish outlook.
American Equity Investment Life — The stock rose 15% in premarket trading Bloomberg Canadian investment firm Brookfield is reportedly close to a deal to buy the insurance company for about $4.3 billion.
Eli Lilly — Shares were up 1.5 percent in premarket trading. Eli Lilly and Company released clinical results on Monday showing that its experimental drug retaglutide helped patients lose 24 percent of their body weight after nearly a year.
Host Hotel & Resort — Shares fell nearly 2 percent after Morgan Stanley downgraded its rating to underweight from equal weight. The Wall Street firm said it expects trends in key markets to worsen and competition for supply will be more intense than peers.
— CNBC’s Sarah Min, Brian Evans, Jesse Pound and Michael Bloom contributed reporting.
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