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Thursday's Premarket Movers: Pinterest, Zillow, Sundial Growers

Stocks moving in premarket trading on Thursday include Zillow, Uber, Pepsi and Kraft Heinz.

Stock futures edged higher Thursday a day after the S&P 500 closed 0.03% higher yesterday. The cannabis sector is surging over this past week and two cannabis names join the list this morning.

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

1. Pinterest PINS | Up +6%

Shares of Pinterest  (PINS)  rose over 5% in premarket trading after Microsoft reportedly approached the social media company for a potential sale, the Financial Times reported.

2. Zillow Group ZG | Up +12%

Shares of Zillow Group  (ZG)  rose over 12% in premarket trading after Deutsche Bank raised its price target on the real estate giant to $225 from $202.

3. Uber UBER | Down -1.7%

Shares of Uber  (UBER)  dropped early Thursday even after the ride-hailing giant on Wednesday reported a narrower fourth-quarter loss, helped by a strong showing in its food-delivery business.

Uber said mobility gross bookings were 43% lower in January. However, its ts delivery business bookings more than doubled (up 130%) to $10.05 billion.

JPMorgan raised its price target on Uber to $72 from $64.43. 

4. Kraft Heinz KHC | Up +1.75%

Shares of Kraft Heinz  (KHC)  rose premarket after the food company agreed to sell its Planters nuts snack business to Hormel Foods for $3.35 billion in an all-cash deal.

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Chief Executive Miguel Patricio said the move will allow Kraft to focus on areas with greater growth possibilities. The business contributed about $1.1 billion to Kraft's sales in fiscal 2020.

5. Pepsi PEP | Up +0.45%

Shares of Pepsi  (PEP)  advanced Wednesday after the beverage and snack major reported fourth-quarter earnings that exceeded analysts' expectations.

Pepsi reported adjusted earnings of $1.47 a share ahead of analysts' estimate of $1.46 a share. Revenue increased 8.8% to $22.46 billion, beating the FactSet consensus of $21.80 billion.

We ended the year on a strong note with our global beverage business having accelerated while our global snacks and food business remained resilient in the fourth quarter," said Chief Executive Ramon Laguarta.

6. Molson Coors TAP | Down -5.3%

Shares of Molson Coors  (TAP)  dropped early Thursday after the beer brewer reported that fourth-quarter adjusted profit and sales missed analysts' estimates.

"While uncertainty and on-premise challenges remain, particularly in Europe, we anticipate 2021 to be a year of both top-line growth, and of investment," said Chief Financial Officer Tracey Joubert. 

7. Sundial Growers SNDL | Up +46.5%

Shares of Sundial Growers  (SNDL)  jumped Thursday in premarket trading after the cannabis sector was riding the wave created by Reddit's WallStreetBets and its availability to buy on Robinhood, while other names are not available.

8. Tilray TLRY | Up +4.8%

Shares of Tilray  (TLRY)  spiked early Thursday after the cannabis sector caught the continued attention of traders on Reddit. The stock has gained more than 670% so far this year.