Check out the firms making headlines earlier than the bell Monday:
Dunkin’ Brands (DNKN) — Dunkin’ shares rallied more than 15% in the premarket after the firm stated it was in talks to be acquired by Inspire Brands, the proprietor of restaurant chains Arby’s and Jimmy John’s. The New York Times stated a deal would take Dunkin’ Brands personal for $106.50 per share, which might be 20% above the inventory’s closing value of $88.79 per share on Friday.
AstraZeneca (AZN) — Astrazeneca shares gained 0.8% after the drugmaker stated its coronavirus vaccine candidate produced an identical immune response in older and youthful adults throughout a scientific trial.
Hasbro (HAS) — Hasbro reported third-quarter earnings per share and income that beat analysts’ expectations. The firm posted a revenue of $1.88 per share on income of $1.78 billion. Wall Street was anticipating earnings of $1.63 per share on income of $1.74 billion, in response to FactSet. The inventory was down more than 2%, nevertheless, as the firm’s gross sales for its TV, movie and leisure division fell wanting estimates.
Kontoor Brands (KTB) — A Bank of America analyst upgraded Kontoor Brands shares to “buy” from “underperform,” and hiked its value goal to $38 per share from $17 per share. “We think consensus is underestimating KTB’s sales trajectory, which should benefit from new distribution starting in 2H20 … another likely round of US stimulus supporting its lower income consumer and a healthier distribution footprint vs. peers,” the analyst stated. Kontoor shares traded 0.5% larger in the premarket at $32.60.
Facebook (FB) — KeyBanc Capital Markets raised its value goal on the social media large to $340 per share, citing an “attractive” valuation. “We believe regulatory concerns have exerted downward pressure on valuation multiples,” KeyBanc stated.
Lululemon (LULU) — Lululemon shares climbed 0.8% after a JPMorgan analyst raised his value goal on the athletic attire maker’s inventory to $415 per share from $387 per share. The new value goal implies a 12-month upside of 24.3% from Friday’s shut of $333.92 per share. The analyst cited potential upside from “multiple incremental initiatives,” together with appointment procuring, digital ready lists and elevated pop-up shops.
Winnebago (WGO) — Winnebago shares had been up more than 2% on the again of a Citi analyst improve to “buy” from “neutral.” The analyst stated “the attractiveness of the RV lifestyle is here to stay” as a return to journey on planes and cruises stays “several years away.”
Palantir Technologies (PLTR) — JPMorgan and Jefferies initiated protection of the inventory with “buy” rankings, citing the firm’s data-collecting prowess and capabilities. Palantir went public late final month. Analysts at Goldman Sachs and Credit Suisse initiated Palantir with “neutral” rankings.