Delta, Virgin Galactic, Plug Power - Thursday's Premarket Movers

Stocks moving in premarket trading on Thursday include Delta Air Lines, Johnson & Johnson, BlackRock, Plug Power and Virgin Galactic.
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Stock futures were mostly higher Thursday after a report said President-elect Joe Biden could unveil a Covid-19 relief package of about $2 trillion.

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

1. BlackRock BLK | Up 1.06%

Shares of BlackRock  (BLK) - Get Report rose Thursday after the money manager posted fourth-quarter earnings and revenue that topped analysts' expectations. 

BlackRock posted fourth-quarter adjusted earnings of $10.18 a share, beating analysts' estimates of $9.14. Assets under management at BlackRock rose to a record $8.68 trillion in the fourth quarter.

2. Johnson & Johnson JNJ | Up 1.44%

Shares of Johnson & Johnson  (JNJ) - Get Report rose early Thursday after the company's single-shot coronavirus vaccine candidate was shown to be safe and to generate a meaningful immune response in an early phase trial.

If successful and approved, the vaccine would become the third available to combat the Covid-19 pandemic which continues to rage out of control in the U.S. and much of the world.

3. Delta Air Lines DAL | Up 2.50%

Shares of Delta Air Lines  (DAL) - Get Report were slightly higher in premarket trading after the carrier posted a wider-than-expected fourth-quarter loss but forecast an industry turnaround this year as vaccine rollouts accelerate and international travel restrictions are lifted later in the spring.

4. Plug Power PLUG | Down 5.42%

Shares of Plug Power  (PLUG) - Get Report dropped in premarket trading Thursday after J.P. Morgan analyst Paul Coster gave the fuel cell stock a price target of $60, a 14% discount, and said the stock was fully valued. 

Coster said Plug Power is a "first- and fast-mover in the hydrogen fuel cell space with proven technology to pursue a massive market opportunity," and could grow sales to more than $1.2 billion by 2024. "This is our top pick in the hydrogen space, but [the stock is] fully-valued in our view." 

5. Virgin Galactic SPCE | Up 14.15%

Shares of Virgin Galactic  (SPCE) - Get Report surged in premarket trading Thursday after ARK Investment Management filed with the Securities and Exchange Commission to launch a space exploration exchange-traded fund.

According to the filing, ARK’s actively managed ETF will invest 80% in stocks engaged in the investment theme of space exploration and innovation, defined as “leading, enabling or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth.”

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