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Premarket Movers Monday: Raven, AMC and Amazon

Stocks moving in premarket trading Monday include Raven Industries, Amazon, AMC Entertainment, Torchlight Energy Resources and MediciNova.

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%

Raven Industries  (RAVN) - Get Report shares soared after CNH Industrial  (CNHI) - Get Report said it agreed to buy the agricultural equipment maker in a tie-up valued at $2.1 billion. 

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%

Amazon  (AMZN) - Get Report advanced as the internet retail giant kicked off Prime Day and promised more than 2 million deals over the two-day event. 

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.

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3. AMC Entertainment - Up 4.9%

AMC Entertainment  (AMC) - Get Report shares moved higher, following a 20% gain last week that lifted the cinema chain's value close to $30 billion. 

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) - Get Report 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) - Get Report 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%. 

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