Hasbro, Oatly, Advanced Micro Devices and more

Take a look at some of the biggest pre-market movers:

Hasbro (HAS) – The toymaker’s stock fell 5.2% pre-market after a double downgrade for “underperforming” versus “buying” at Bank of America. The move comes after BofA conducted what it calls a “deep dive” into Hasbro’s “Magic: The Gathering” collectible card game business. BofA said Hasbro was overprinting the cards and destroying the company’s long-term value.

investment related news

JPMorgan downgrades Teva as generic drug trade struggles

JPMorgan downgrades Teva as generic drug trade struggles

oatly (OTLY) – The oat-based beverage maker saw its stock tumble 11.8% premarket after reporting a bigger-than-expected quarterly loss and revenue that fell short of consensus. Oatly said its results were affected by a number of factors, including China Covid restrictions, production issues and a stronger US dollar.

Advanced micro-systems (AMD) – The chipmaker’s stock rose 3.2% premarket after receiving upgrades at Baird and UBS. The companies cited positive cyclical industry trends as well as strong demand from data center equipment manufacturers for AMD’s Genoa chip.

Amazon.co.uk (AMZN) – Amazon fell 1.7% in premarket trading after Bank of America removed the stock from its “US 1” list, although it maintained a “buy” rating.

Teva pharmaceutical (TEVA) – Teva was downgraded to “underweight” from “neutral” at JP Morgan Securities, which cited continued growth challenges for the drugmaker. Teva fell 2.3% in premarket stock.

Eli Lily (THERE IS), biogenic (BIIB) – Rival Roche’s experimental Alzheimer’s treatment has failed to achieve its primary goal in studies. Lilly and Biogen also have drugs for Alzheimer’s disease in their pipelines, and Biogen said in September that its experimental treatment slowed disease progression by 27%. Lilly added 1.5% in premarket trading, while Biogen rose 5.8%.

Tyson Foods (TSN) – The beef and poultry producer reported quarterly earnings of $1.63 per share, missing consensus estimates of 10 cents per share. Revenue exceeded Street’s forecast. Tyson added 1% in premarket action.

Galactic Virgo (SPCE) – In a Securities and Exchange Commission filing, Virgin said a court is giving plaintiffs until Nov. 1. 28 to file an amended class action lawsuit against the company. The original lawsuit filed in May 2021 alleged that current and former officers and directors made misleading statements about Virgin’s commercial spaceflight program, accusations that Virgin says are without merit. Virgin shares fell 1% in premarket.


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