Stock futures were mostly higher Thursday after a report said President-elect Joe Biden could unveil a Covid-19 relief package of about $2 trillion.
Here are some of the top movers during premarket trading on Thursday.
1. BlackRock BLK | Up 1.06%
Shares of BlackRock (BLK) – Get Report rose Thursday after the money manager posted fourth-quarter earnings and revenue that topped analysts’ expectations.
BlackRock posted fourth-quarter adjusted earnings of $10.18 a share, beating analysts’ estimates of $9.14. Assets under management at BlackRock rose to a record $8.68 trillion in the fourth quarter.
2. Johnson & Johnson JNJ | Up 1.44%
Shares of Johnson & Johnson (JNJ) – Get Report rose early Thursday after the company’s single-shot coronavirus vaccine candidate was shown to be safe and to generate a meaningful immune response in an early phase trial.
If successful and approved, the vaccine would become the third available to combat the Covid-19 pandemic which continues to rage out of control in the U.S. and much of the world.
3. Delta Air Lines DAL | Up 2.50%
Shares of Delta Air Lines (DAL) – Get Report were slightly higher in premarket trading after the carrier posted a wider-than-expected fourth-quarter loss but forecast an industry turnaround this year as vaccine rollouts accelerate and international travel restrictions are lifted later in the spring.
4. Plug Power PLUG | Down 5.42%
Shares of Plug Power (PLUG) – Get Report dropped in premarket trading Thursday after J.P. Morgan analyst Paul Coster gave the fuel cell stock a price target of $60, a 14% discount, and said the stock was fully valued.
Coster said Plug Power is a “first- and fast-mover in the hydrogen fuel cell space with proven technology to pursue a massive market opportunity,” and could grow sales to more than $1.2 billion by 2024. “This is our top pick in the hydrogen space, but [the stock is] fully-valued in our view.”
5. Virgin Galactic SPCE | Up 14.15%
Shares of Virgin Galactic (SPCE) – Get Report surged in premarket trading Thursday after ARK Investment Management filed with the Securities and Exchange Commission to launch a space exploration exchange-traded fund.
According to the filing, ARK’s actively managed ETF will invest 80% in stocks engaged in the investment theme of space exploration and innovation, defined as “leading, enabling or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth.”