Stocks making the biggest moves in the premarket: Xilinx, NXP Semiconductors, Apple, Disney & more

Finance news

Take a look at some of the biggest movers in the premarket:

Xilinx (XLNX) – Advanced Micro Devices (AMD) is in advanced talks to buy the specialty chipmaker, according to The Wall Street Journal. People familiar with the matter say such a deal could be worth more than $30 billion, with a transaction possibly coming together as early as next week.

NXP Semiconductors (NXPI) – NXP raised its outlook for the just-ended quarter, saying it had seen “material” improvement in demand across all its markets with particular strength in the automotive and mobile segments.

Apple (AAPL) – Apple will extend some free one-year trial subscriptions to its Apple TV+ service through February. It had issued those free trials with the purchase of Apple products when it launched the service a year ago.

Walt Disney (DIS) – Disney will release the Pixar movie “Soul” directly to its Disney+ TV service on Christmas Day, deciding to forego both movie theaters and the previously planned November 20th release date.

Gilead Sciences (GILD) – Gilead released final data from a study of its remdesivir anti-viral treatment, which showed that the drug cut recovery time by five days compared to patients who received a placebo.

General Electric (GE) – Goldman Sachs resumed coverage of GE with a “buy” rating and a 12-month price target of $10 per share. Goldman said CEO Larry Culp has moved to make GE a “leaner, structurally more productive” company during his two years on the job.

HCA Healthcare (HCA) – HCA will return about $6 billion in government aid it had received as part of coronavirus relief funding. The hospital operator said the initial emergency had passed and that available cash from operations would be sufficient to repay the money. HCA also issued better-than-expected third-quarter revenue guidance.

AT&T (T) – AT&T is planning thousands of job cuts in its WarnerMedia unit as it seeks to cut costs by up to 20 percent, according to The Wall Street Journal. WarnerMedia did not confirm those numbers, but the operator of HBO, TBS and other TV channels did issue a statement saying it was implementing a restructuring in response to the impact of the Covid-19 pandemic.

Exelon (EXC) – Exelon was noted as a “favorite idea” by Corvex Management’s Keith Meister, who said the utility company is cheap and well-positioned and that the stock could rise by 30%. Meister said he had added Exelon to his portfolio during the second quarter.

Zoom Video (ZM) – Mizuho began coverage of Zoom with a “buy” rating, saying it had the “best-of-breed” video conferencing tools and that it believes Zoom can continue to deliver “outsized revenue growth.” Mizuho also believes that Zoom’s Oct. 14 Analyst Day will serve as a catalyst for the stock.

Sunrun (RUN) – Tiger Global Management reports a 12% passive stake in the solar installation company as of October 8, according to a Securities and Exchange Commission filing. The news comes a day after Sunrun completed its acquisition of rival installer Vivint Solar.

Aurora Cannabis (ACB), Tilray (TLRY), Hexo Corp. (HEXO) – Stocks of cannabis producers are rising once again, after vice presidential nominee Sen. Kamala Harris vowed during the Wednesday debate with Vice President Mike Pence that a Joe Biden administration would decriminalize marijuana at the federal level.