Illumina corporate offices in San Diego, California.
Mike Blake | Reuters
Check out which companies are making headlines in pre-market trading.
NASDAQ – Shares of the stock exchange operator fell 7.7% after announcing its deal to buy Adenza, the software company owned by Thoma Bravo. The deal, valued at about $10.5 billion, will be Nasdaq’s largest acquisition as the company increases its focus on financial technology and attempts to diversify.
Illumina — The biotech stock rose 2% in premarket trading after Illumina announced its CEO’s transition plan on Sunday. CEO Francis D’Souza has resigned, effective immediately, but will remain as an advisor until July 31. The move comes after pressure from activist investor Carl Icahn.
Nio – Shares rose more than 4% after the Chinese electric car maker said it was lowering the prices of its cars and ending free battery swaps for new buyers. Last week, Nio also said it was delaying capital spending projects. Nomura assumed coverage of Nio with a Neutral rating on Sunday, having previously rated it Buy.
SentinelOne Shares rose 5.2% after the upgrade to overweight from an equal weight by Morgan Stanley, which said the market had not correctly priced the stock’s inherent asset value. Cybersecurity stock has been hit by a series of downgrades after it reported weaker-than-expected first-quarter revenue and disappointing guidance for the current quarter and full-year guidance on the metric earlier in June.
Bill.com – Shares fell 4.8% in the primary market after Morgan Stanley downgraded its expense management system to an overweight equal weight. The company said Bill.com has expansion limitations and could see increased competition.
Oracle — Information technology stock added 4.7% on Monday, as investors await expected fiscal fourth-quarter earnings after the bell. Wolfe Research upgraded the stock to outperform peers over the weekend, while Evercore ISI said Friday it expects a strong quarterly report and positive comments about the cloud business. Evercore ISI, Barclays and JPMorgan have all raised their price targets for the stock in recent days.
Carnival — Cruise stock rose 5.5% after an upgrade from JPMorgan. The Wall Street company upgraded the stock to overweight, citing continued demand momentum in the cruise industry.
— CNBC’s Jesse Pound, Samantha Sobin and Michelle Fox contributed reporting.
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