Premarket Movers Thursday - Dell, Citigroup and PPD

Stocks moving in premarket trading Thursday include Dell Technologies, Citigroup, PPD, Coinbase and Bank of America.
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Stock futures rose Thursday ahead of data on U.S. jobless claims and retail sales.

Here are some of the top movers during premarket trading on Thursday.

1.  Dell Technologies DELL | Up 7.59%

Shares of Dell Technologies  (DELL) - Get Report rose close to 8% early Thursday after the computer maker received price target upgrades from Deutsche Bank and J.P. Morgan.

Deutsche Bank raised its price target on the stock to $120 from $100. J.P. Morgan also raised Dell's price target to $120 from $103.

Dell said it plans to spin off its stake in cloud-software firm VMware VMW, which will result in a special cash dividend for shareholders of up to $12 billion.

2. Coinbase COIN | Up 7%

Shares of Coinbase  (COIN)  rose in premarket trading after the cryptocurrency exchange jumped 31% in its first day of trading on the Nasdaq. 

Coinbase went public through a direct listing.

Coinbase opened Wednesday at $381 a share, 52% above its reference price of $250 a share. It closed Wednesday at $328.28. At the closing price, Coinbase's valuation was about $86 billion.

TheStreet founder Jim Cramer tweeted early Thursday: "If you bought Coinbase at the opening and then bought lower later in the day you should have a good basis and no need to buy more at these prices."

3. PPD Inc. PPD | Up 6.28%

Shares of PPD  (PPD)  advanced in premarket trading Thursday after Thermo Fischer Scientific  (TMO) - Get Report agreed to acquire the healthcare testing company for $17.4 billion in cash, creating one of the biggest drug-testing companies in the U.S.

4. Bank of America BAC | Up 1.25%

Banks of America  (BAC) - Get Report shares traded higher early Thursday after the bank posted stronger-than-expected first-quarter earnings that included the release of $2.7 billion in reserves set aside to cover bad loans.

While discussing bank earnings on Wednesday, Cramer said, "If the Federal Reserve let banks return capital they would return a monster amount of capital. They can buy back a lot but, more importantly, they can give you dividend that's not like the others which will be really good," he said.

5. Citigroup C | Up 3.18%

Shares of Citigroup  (C) - Get Report advanced in premarket trading Thursday after the bank posted first-quarter earnings and revenue that exceeded analysts' expectations. 

The bank reported strong investment banking revenue and a higher-than-expected release of loan-loss reserves.

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