Saturday May 28, 2022

Boeing, Anaplan, Nielsen Holdings and more


Check out the companies making headlines before the bell:

Boeing (BA) – A Boeing 737-800 jet operated by China Eastern Airlines crashed in the mountains of southern China with 132 people aboard, with no immediate word on consequence. Boeing shares sank 5.8% in the premarket.

Anaplan (PLAN) – Anaplan agreed to be bought out by private-equity firm Thoma Bravo for $10.7 billion, or $66 per share in cash. The business planning software company’s stock had closed at $50.59 per share on Friday, and the stock surged 28.3% in the premarket.

Nielsen Holdings (NLSN) – Nielsen tumbled 18.6% in premarket trading after it rejected a $9.13 billion takeover bid, worth $25.40 per share, from a private-equity consortium. Nielsen said the bid significantly undervalues ​​the company, best known for its TV ratings.

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Alleghany (Y) – Berkshire Hathaway (BRK.B) is buying the insurance company for $11.6 billion in cash, or $848.02 per share, compared to Alleghany’s Friday close of $676.75 per share. Alleghany will operate as an independent subsidiary of Berkshire.

General Motors (GM) – GM bought Softbank’s $2.1 billion stake in its Cruise driverless-car division. It also announced it would invest an additional $1.35 billion in cruise, replacing funds that Softbank had pledged to provide. GM initially fell more than 1% in the premarket but then pared those losses.

SAP (SAP) – SAP fell 2% in the premarket. Chief Financial Officer Luka Mucic is departing the German business software company at the end of March 2023.

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Manchester United (MANU) – Deutsche Bank upgraded the soccer team’s shares to “buy” from “hold,” saying Manchester United is undervalued relative to its peers in the sports and live events category. Manchester United gained 1.6% in premarket action.

Nio (NIO) – Nio said it had no immediate plans to raise prices on its electric vehicles, although China-based carmaker said it would be flexible on pricing. Rivals like Tesla (TSLA) and BYD have recently raised prices due to higher materials costs.

BlackBerry (BB) – The communication software company’s stock added 2.1% in the premarket after RBC upgraded it to “sector perform” from “underperform,” saying the stock’s price is now more aligned with BlackBerry’s fundamentals.

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