Premarket Movers Thursday - Organigram, Vir Biotech, Roblox, Bumble

Stocks moving in premarket trading on Thursday include Organigram, Roblox, Oracle, AMC, Vir Biotech and Bumble.
Author:
Publish date:

Stock futures rose Thursday as a weaker-than-expected report on U.S. inflation calmed worries that price pressures could boost interest rates.

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

1. Organigram OGI | Up 39.5%

Shares of Organigram  (OGI) - Get Report jumped in premarket trading after the Canadian cannabis producer received a C$221 million ($175.7 million) strategic investment from a subsidiary of British American Tobacco  (BTI) - Get Report.

The companies said in a statement that they have entered into a “Product Development Collaboration Agreement” that includes establishing a "Center of Excellence" focused on developing next-generation cannabis products, with an initial focus on CBD.

2. Vir Biotechnology VIR | Up 53.8%

Shares of Vir Biotech  (VIR) - Get Report spiked early Thursday after the company said its experimental COVID-19 treatment, being developed with Britain's pharmaceutical giant GlaxoSmithKline  (GSK) - Get Report, significantly reduced hospitalizations and death in high-risk adults.

The company plans to seek emergency use authorization from the Food and Drug Administration for the antibody therapy after interim data from a study showed 85% reduction in hospitalizations and deaths among coronavirus patients.

3. Roblox RBLX | Up 11%

Shares of gaming company Roblox  (RBLX) - Get Report were rising in premarket trading Thursday after ARK Invest's Cathie Wood reportedly bought more than 500,000 shares of the videogame developer that surged 54% in its trading debut on Wednesday.

Roblox closed Wednesday at $69.50 a share, above the reference price of $45 set by the New York Stock Exchange.

The stock's first trade as a public company was $64.50. Based on that, Roblox was valued at about $42 billion, according to The Wall Street Journal.

4. Oracle ORCL | Down 5.2%

Shares of Oracle  (ORCL) - Get Report dropped in premarket trading a day after the enterprise software maker reported better-than-expected fiscal third-quarter earnings but shared weak earnings guidance for the next quarter.

For the fiscal third quarter, Oracle reported net income of $5.02 billion, or $1.68 a share, compared with $2.57 billion, or 79 cents a share, in the year-ago period.

Revenue rose to $10.09 billion from $9.8 billion in the year-ago quarter.

5. AMC Entertainment AMC | Up 7%

Shares of AMC Entertainment  (AMC) - Get Report were rising in premarket trading after the world's largest movie-theater chain posted a fiscal fourth-quarter loss narrower than estimates and said it was optimistic about getting to the "other side of this pandemic."

6. Bumble BMBL | Up 10.1%

Shares of Bumble  (BMBL) - Get Report rose Thursday morning after the dating app reported higher-than-expected revenue for its fiscal fourth quarter and offered an upbeat revenue forecast for the full year.

Bumble said paying customers rose 32.5% from the same period a year earlier.

Tags
terms:
StocksInvesting