Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, U.S., on Monday, Jan. 27, 2020. Caterpillar is scheduled to release earnings figures on January 31.
Check out the companies making headlines before the bell:
Tesla (TSLA) – Shares of the automaker slumped 4.3% in premarket trading after CEO Elon Musk asked his followers on Twitter if he should sell 10% of his stock in the company.
Regeneron Pharmaceuticals (REGN) – Shares of the pharmaceutical company rose 2% after Regeneron said that a single dose of its antibody cocktail could provide long-term protection against Covid-19.
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Caterpillar (CAT) – The industrial stock jumped more than 4% in premarket trading after it was announced a fresh pick at investment firm Baird. Caterpillar could see strong earnings in the next few years as the newly passed infrastructure bill adds to a strong demand environment, Baird said in a note to clients.
Autolus Therapeutics (AUTL) – The biotech stock surged 25% after Blackstone said it would invest up to $250 million in Autolus. The investment will help Autolus continue to build on a treatment for leukemia, the companies said in a release.
Coty (COTY) – The makeup and beauty stock rose 6.5% after the company reported better-than-expected results for its fiscal first quarter, according to estimates from StreetAccount. Coty also announced that it was selling more of its stake in Wella to KKR.
Money Report
Krispy Kreme (DNUT) – Shares of the doughnut chain dipped in premarket trading following a downgrade from Truist. The investment firm said that the tight labor market could hold back Krispy Kreme's expansion plans.
Canopy Growth (CGC) – The pot stock was under pressure in premarket trading following a pair of downgrades from Cowen and Canaccord Genuity. Canopy reported its fiscal second-quarter results last week, and revenue missed expectations.
SoftBank Group Corp (9984.T) – Shares of the Japanese bank fell less than 1% in Tokyo trading after SoftBank reported a loss for its fiscal second quarter. The company took a $10 billion loss from its Vision Fund, weighed down by losses in Chinese tech stocks, according to Reuters.
Live Nation (LYV) – The entertainment promotion company saw its stock fall nearly 4% in premarket trading on Monday after multiple people died at a Travis Scott concert over the weekend. Live Nation has reportedly been named a defendant in lawsuits about the event.
