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Stocks Making the Biggest Premarket Moves: Airbnb, Oracle, American Express and More

September 5, 2023
minute read

Check out the companies making headlines in premarket trading.

Zynex, Coherus BioSciences, Universal Insurance Holdings: These companies saw their stocks decline due to news from S&P 500 Dow Jones indices. Coherus is transitioning from the MidCap 400 to the MidCap 600, while Universal Insurance is leaving the MidCap 600 entirely. Zynex, on the other hand, experienced a nearly 6% drop as it moves out of the SmallCap 600 index.

American Express: The credit card giant's stock inched up by 0.5% after receiving an upgrade to "outperform" from "sector perform" by RBC earlier on Tuesday.

Airbnb: The shares of this vacation rental company rose over 4% following the recent announcement by S&P Dow Jones Indices that Airbnb would be joining the S&P 500 later this month. This inclusion in the S&P 500, widely tracked by major index funds, could generate buying interest in Airbnb's stock in the coming weeks.

NextGen Healthcare: This healthcare stock surged more than 11% after Bloomberg reported on Monday that the company was in advanced talks with potential acquirer Thomas Bravo.

Oracle: The software company's stock increased by 1.5% in premarket trading after receiving an upgrade to "overweight" from "equal weight" by Barclays. The upgrade was based on the expectation that Oracle's cloud business would benefit from the growth of artificial intelligence.

Brady Corporation: Shares of Brady Corporation climbed nearly 11% following the release of its quarterly results. The company reported adjusted earnings of $1.04 per share, surpassing the 93 cents per share forecasted by analysts.

Warner Bros. Discovery: The company's shares experienced a 1.2% dip after issuing a warning about potential strikes by writers and actors that could negatively impact cash flow by an estimated range of $300 million to $500 million.

Editorial Board
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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