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Shares making the largest strikes forward of the market: Novavax, Lordstown Motors, Phillips, Chipotle, and others

Check out the companies that make the headlines before the doorbell rings:

Novavax (NVAX) – The drug maker said its Covid-19 vaccine was 90% effective late-stage and 93% effective against the prevalent variants of the virus. It also offered 100 percent protection against moderate and severe illness. The Novavax share rose 10.4% in pre-market trading.

Lordstown Motors (RIDE) – The electric truck maker announced the resignation of CEO Steve Burns and CFO Julio Rodriguez days after the company warned it had doubts about its going concern. Lordstown hired a search company to find replacements for Burns and Rodriguez. The shares plummeted by 8% in the pre-trading period.

Phillips (PHG) – Phillips shares slipped 4.3% ahead of its launch after announcing it would recall up to 4 million CPAP machines due to potential toxicity risks. The foam used in sleep apnea treatment devices can break down and become potentially toxic. The Dutch medical technology company is the largest manufacturer of CPAP devices.

Chipotle Mexican Grill (CMG) – Raymond James upgraded the restaurant chain's shares from “outperform” to “strong buy”, predicting the recent menu price hikes would boost earnings well above consensus forecasts in the second half of the year. The Chipotle share rose by 1.4% before the IPO.

Ferrari (RACE) – Goldman Sachs double downgraded the automaker's stock by changing its rating from "buy" to "sell" and citing increased capital spending and limited scope for positive earnings revisions. Ferrari lost 2.7% in the premarket.

GlaxoSmithKline (GSK) – The drug maker is partnering with clinical-stage biopharmaceutical company iTeos Therapeutics (ITOS) to develop and commercialize EOS-448, an early-stage monoclonal antibody as a potential cancer treatment. iTeos gained 60.4% in the premarket.

AstraZeneca (AZN) – According to the head of the Covid-19 task force of the European Medicines Agency, the drug manufacturer's Covid-19 vaccine has a favorable risk-opportunity profile for all age groups and especially for people over 60 years of age. Marco Cavaleri said his quote in an Italian newspaper that the vaccine should not be given to people over 60 had not been correctly interpreted.

Royal Dutch Shell (RDS.A) – The energy giant is considering selling shale plants in Texas, according to people familiar with the matter who spoke to Reuters. One could be worth more than $ 10 billion. The share gained 2% in pre-trading hours.

Oatly (OTLY) – The oat milk maker received a mixed batch of initial ratings from a handful of investment firms. Oatly received ratings of "perform" (Oppenheimer), "outperform" (Credit Suisse), "equalweight" (Morgan Stanley), "overweight" (Piper Sandler), "buy" (Jefferies, Guggenheim), "neutral" (JPMorgan Chase ) and "Sector Perform" (RBC Capital). Everyone agrees on the growth prospects for Oatly – but some companies feel that that prospect is already priced into the stock.

Qualcomm (QCOM) – Qualcomm is poised to invest in UK chipmaker Arm if its $ 40 billion Nvidia (NVDA) deal is blocked by regulators, according to Telegraph, CEO Cristiano Amon quoted as saying.

Equinix (EQIX) – Equinix has reached an agreement with Singapore's sovereign wealth fund for further joint ventures to expand its data center operations there. Through the transaction, the fund will invest an additional $ 3.9 billion, bringing the total investment to more than $ 6.9 billion.

NextGen Acquisition (NGAC) – According to Sky News, the special purpose vehicle is in advanced talks to bring Sir Richard Branson's Virgin Orbit to the public. According to Sky, a deal could be announced in the coming weeks that values ​​Virgin Orbit at around $ 3 billion. The NextGen share gained 1.9% in the premarket.

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