Pre-Open Stock Movers 05/23: VMware Surges on Possible Broadcom Takeover; Retails Stocks Sick Again on Downgrades (more...)

Pre-Open Stock Movers:

VMware (NYSE: VMW) 20% HIGHER; Broadcom (NASDAQ: AVGO) is in advanced talks to acquire VMware (NYSE: VMW), according to various media sources.

SIGA Technologies, Inc. (NASDAQ: SIGA) 17% HIGHER; continues higher on Monkey Pox play,

Porch Group Inc. (NASDAQ: PRCH) 11% HIGHER; JPMorgan initiates with an Overweight rating and a price target of $8.00.

ImmunoGen, Inc. (Nasdaq: IMGN) 10% HIGHER; The FDA has accepted and filed the Biologics License Application (BLA) for mirvetuximab soravtansine monotherapy in patients with folate receptor alpha (FR)-high platinum-resistant ovarian cancer who have been previously treated with 1 to 3 prior systemic treatments.

Gap, Inc. (NYSE: GPS) 5% LOWER; Citi downgraded from Neutral to Sell with a price target of $8.00 (from $13.00).

The Children's Place (NASDAQ: PLCE) 4% LOWER; Citi downgraded from Neutral to Sell with a price target of $36.00 (from $48.00).

Autodesk (NASDAQ: ADSK) 4% LOWER; Deutsche Bank downgraded from Buy to Hold with a price target of $225.00 (from $275.00).

Abercrombie & Fitch (NYSE: ANF) 3% LOWER; Citi downgraded from Buy to Neutral with a price target of $30.

Kohl's (NYSE: KSS) 3% LOWER; Citi downgraded from Buy to Neutral with a price target of $39.00 (from $55.00).

HP Inc (NYSE: HPQ) 3% LOWER; Citi Downgraded shares to Neutral from Buy with a $38 price target.

Carter's (NYSE: CRI) 3% LOWER; Citi downgraded from Buy to Sell with a price target of $68.00 (from $110.00).

Ocugen, Inc. (NASDAQ: OCGN) 2% HIGHER; The FDA lifted the clinical hold on the Companys Phase 2/3 clinical trial, OCU-002, for COVAXIN (BBV152).

Tesla (NASDAQ: TSLA) 1% LOWER; plans to restore production at its Shanghai plant to the level at which it had operated before the city's COVID-19 lockdown by Tuesday, a day later than its most recent recovery plan, according to an internal memo seen by Reuters.

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