Stock futures were rising Monday as investors processed signals from the Federal Reserve last week that it could boost interest rates and begin tapering asset purchases sooner than expected.
Here are some of the top movers during premarket trading on Monday:
1. Raven Industries - Up 49.2%
CNH will pay $58 a share for Sioux Falls, South Dakota-based Raven, a 33.6% premium to Raven’s four-week volume-weighted average stock price.
2. Amazon - Up 0.17%
Analysts at Telsey Advisory Group forecast this year’s Prime Day will generate between $11 billion and $12 billion in sales, with $8 billion to $8.5 billion coming from shoppers in the U.S.
3. AMC Entertainment - Up 4.9%
TheStreet's founder Jim Cramer cautioned that the ability of meme-powered investors to boost stock prices could fade in the coming weeks.
4. Torchlight Energy Resources - Up 39.6%
Shares of Torchlight Energy Resources (TRCH) surged after the stock was touted on retail trading forums as potential short squeeze.
The company recently attracted the attention of retail traders who have pushed stock prices higher.
5. MediciNova - Up 43.6%
MediciNova (MNOV) skyrocketed after the biopharma said that positive results from a Phase 2 trial of its treatment ibudilast in alcohol use disorder (AUD) were published in Nature’s "Translational Psychiatry."
Among the key results were that Ibudilast, in comparison with a placebo, reduced the odds of heavy drinking across time by 45%.