Pre-Open Stock Movers 11/30: (CAAS) (MRNA) (WORK) Higher; (NKLA) (YJ) (NVAX) Lower (more...)

November 30, 2020 9:30 AM EST

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Today's Pre-Open Movers

China Automotive Systems, Inc. (Nasdaq: CAAS) 92.9% HIGHER; announced that it shipped approximately 120,000 units from its portfolio of electric power steering ("EPS") products for use in Chinese electric vehicles ("EV") during 2020.

Nikola Corporation (NASDAQ: NKLA) 22.2% LOWER; announced the signing of a non-binding Memorandum of Understanding ("MOU") with General Motors for a global supply agreement related to the integration of GM's Hydrotec fuel-cell system into Nikola's commercial semi-trucks. This supersedes and replaces the transaction announced on September 8, 2020. The MOU does not include the previously contemplated GM equity stake in Nikola or development of the Nikola Badger.

Moderna (Nasdaq: MRNA) 12.5% HIGHER; announced that the primary efficacy analysis of the Phase 3 study of mRNA-1273 conducted on 196 cases confirms the high efficacy observed at the first interim analysis. The data analysis indicates a vaccine efficacy of 94.1%. Safety data continue to accrue and the study continues to be monitored by an independent, NIH-appointed Data Safety Monitoring Board (DSMB). The Company also announced that today, Moderna plans to request an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) and conditional approval from the European Medicines Agency (EMA). The Phase 3 study, known as the COVE study, enrolled more than 30,000 participants in the U.S. and is being conducted in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), and the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services.

Genworth Financial, Inc. (NYSE: GNW) 11.2% HIGHER; GNW and China Oceanwide Holdings Group Co. Ltd (Oceanwide) announced that their transaction has received confirmation of the extension of the acceptance of filing from the National Development and Reform Commission (NDRC) in China. With NDRC's re-approval, Oceanwide will now move forward with the few remaining regulatory steps required to close the transaction, including seeking clearance for currency conversion and transfer of the balance of the transaction funds from SAFE and obtaining confirmation from the Delaware Department of Insurance that the acquisition of Genworth's Delaware-domiciled insurer may proceed under the existing approval.

MicroStrategy Incorporated (NASDAQ: MSTR) 10.6% HIGHER; continues higher on bitcoin holdings, Citron long.

Venator Materials (NYSE: VNTR) 10.3% HIGHER; BofA Securities upgraded from Neutral to Buy with a price target of $4.00.

Apollo Endosurgery (NASDAQ: APEN) 9.4% HIGHER; Piper Sandler upgraded from Neutral to Overweight with a price target of $5 (from $2).

Slack (NYSE: WORK) 7.6% HIGHER; Salesforce's (NYSE: CRM) rumored deal to acquire Slack (NYSE: WORK) is expected to be announced tomorrow, according to CNBC's Faber, citing sources.

Yunji Inc. (NASDAQ: YJ) 6.8% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $3.40 (from $5.00).

IHS Markit (NYSE: INFO) 6.7% HIGHER; S&P Global (NYSE: SPGI) and IHS Markit (NYSE: INFO) today announced they have entered into a definitive merger agreement to combine in an all-stock transaction which values IHS Markit at an enterprise value of $44 billion, including $4.8 billion of net debt. The transaction brings together two world-class organizations, a unique portfolio of highly complementary assets in attractive markets and cutting-edge innovation and technology capability to accelerate growth and enhance value creation.

Novavax, Inc. (Nasdaq: NVAX) 4.9% LOWER; provided an update on its COVID-19 vaccine program. NVXCoV2373 is a stable, prefusion protein antigen derived from the genetic sequence of the SARS-CoV-2 coronavirus spike (S) protein and adjuvanted with Novavax proprietary MatrixM.

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