[ad_1]
Check out the stocks making the biggest moves in pre-market trading. Bloomin’ Brands — Shares of the restaurant company rose more than 5% after Outback Steakhouse’s parent company, Bloomin’ Brands, announced the addition of two new members to its board of directors. The changes were made as part of an agreement between Bloomin’ and activist firm Starboard. Coinbase , Marathon Digital — Stocks of companies related to cryptocurrencies plummeted Wednesday as Bitcoin prices fell more than 5%. Cryptocurrency exchange Coinbase fell nearly 6%, and Bitcoin mining company Marathon Digital fell 10%. SoFi Technologies — Shares fell more than 7% after Keefe, Bruyette & Woods downgraded the company for below-market performance. The company cited SoFi’s strong recent performance, as well as concerns that the organization’s growth slowing and technology revenue would weigh on its bottom line. Charles Schwab — The brokerage’s stock price fell about 1.5% after Goldman Sachs downgraded Charles Schwab’s rating from “buy” to “neutral.” A lower interest rate outlook could negatively impact Schwab’s earnings, Goldman said. PGT Innovations — Shares of the window and door maker rose nearly 3% after PGT Innovations announced it had received an unsolicited takeover offer. Miter Brands’ new offer values PGT at $41.50 in cash, which is higher than the company’s previous $41-per-share deal with Masonite International. Apple — The technology giant’s stock fell less than 1% on Wednesday, extending its losses by more than 3% in previous trading. Disney — The entertainment giant’s shares rose less than 1% after Reuters reported that activist hedge fund Blackwells Capital will nominate three Disney board members in competition with nominations from Trian Fund Management. According to reports, Blackwells is backing CEO Bob Iger. —CNBC’s Michelle Fox Theobald contributed reporting.
[ad_2]
Source link
