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Premarket Movers Wednesday - Novavax, Biogen, Netflix

Stocks moving in premarket trading include Netflix, Verizon, Novavax, Biogen and United Airlines.

U.S. equity futures edged lower Wednesday as solid corporate earnings clashed with persistent inflation concern and a jump in Treasury bond yields.

Here are some of the top movers ahead of the opening bell on Wednesday.

1. Novavax NVAX | Down 23%

Shares of Novavax  (NVAX) - Get Free Report tumbled after Politico reported that the pharmaceutical company was running into difficulties in manufacturing and producing its Covid-19 vaccine.

2. Netflix NFLX | Down 1.9%

Shares of Netflix  (NFLX) - Get Free Report dropped after the streaming giant posted better-than-expected third-quarter earnings and analysts were divided on its outlook.

A Deutsche Bank analyst downgraded the stock to hold from buy. "While, on the one hand, we share the market's enthusiasm toward Netflix's very strong 4Q content slate and the optionality it brings to 4Q net adds; on the other hand, we think a 4Q subscriber beat is already more than priced into the stock," Bryan Kraft wrote in a note to clients.

But analysts at Oppenheimer, JPMorgan, Barclays, Stifel, Morgan Stanley, KeyBanc, Wells Fargo and others raised price targets on Netflix stock.

3. United Airlines UAL | Up 1.7%

United Airlines  (UAL) - Get Free Report stock traded higher after the carrier's third-quarter earnings beat analyst estimates and Chief Executive Scott Kirby said the company is on target to meet its goals for 2022.

4. Biogen BIIB | Up 1.4%

Shares of Biogen  (BIIB) - Get Free Report advanced after the drugmaker beat third-quarter estimates on the top and bottom lines and raised its full-year guidance. The company is still optimistic about prospects for its Alzheimer’s drug, Aduhelm, despite slower-than-expected adoption.

5. Verizon VZ | Up 1.6%

Shares of Verizon  (VZ) - Get Free Report rose after the telecom giant posted stronger-than-expected third-quarter earnings and bumped up its full-year profit forecast. The report reflects strong consumer demand for 5G-enabled devices and related services as well as for broadband service.