Bed Bath, Dropbox, Transocean and more

News Update - Premarkets

Take a look at the companies making headlines in the premarket trade.

Bed Bath & Beyond: The beleaguered home goods retailer fell another 14.1%, adding to several straight days of losses. The latest move comes after chief financial officer Gustavo Arnal committed suicide on Friday. Bed Bath & Beyond said in a statement Sunday that Arnal was “instrumental” in guiding the company through the pandemic.

Norwegian Cruise Line Holdings: Shares rose 1.8% premarket after Stifel called the cruise line a “long-term buying opportunity.”

FedEx: The carrier’s stock fell 1.5% after Citi downgraded it to neutral from buy and cut its price target, citing pressures on earnings-per-share growth this year.

Transocean: Shares rose 3.4% after BTIG upgraded the oil services stock to buy to neutral, saying the offshore drilling contractor should improve its balance sheet thanks to better day rates.

Dropbox: Shares advanced 1.7% after Bank of America initiated coverage of the file storage and sharing service with a buy rating, saying the generation of free cash flow should be attractive to investors shareholders

CVS Health: CVS is acquiring home health care company Signify Health in an $8 billion deal, the two companies said. CVS shares rose 0.6% in premarket trading; Signify was down 0.2%.

Volkswagen — Volkswagen plans to list sports car brand Porsche in an initial public offering later this year, in what could be one of the world’s largest listings this year.

Anheuser-Busch InBev – The maker of Budweiser rose 2.4% after HSBC upgraded the Belgian brewer to buy from the cellar, saying the stock could rise 30% from here.

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