Stock futures inched lower in premarket activity on Thursday as market participants await key jobs data.
Here are some of Thursday’s biggest stock movers in premarket trading:
Biggest stock gainers
BlackBerry (NYSE:BB) shares surged over 4% after the company announced plans to separate its Internet of Things (IoT) and cybersecurity businesses into two independently operated entities. The decision follows a strategic assessment of its portfolio conducted in May with Morgan Stanley and Perella Weinberg Partners.
Orchard Therapeutics (NASDAQ:ORTX) jumped 94% after Kyowa Kirin (OTCPK:KYKOF), a specialty pharmaceutical company based in Japan, announced its acquisition of Orchard Therapeutics for approximately $387.4M in cash. Orchard shareholders will hold an additional contingent value right of $1.00 per ADS, totaling $17.00 per ADS, or approximately $477.6M.
Biggest stock losers
Shares of MaxCyte (NASDAQ:MXCT) fell more than 20% after the cell-engineering business disclosed lower-than-expected preliminary Q3 sales results and updated its 2023 outlook. The company now forecasts overall Q3 sales to be between $7.8M and $8M, down 25% to 27% Y/Y, with a consensus of $11.3M. Revenue of $34M to $36M in FY2023 is likewise much lower than the expectation of $45.1M.
Rivian Automotive (NASDAQ:RIVN) plunged more than 9% after announcing the issuance of $1.5B in green convertible senior notes due October 15, 2030. In accordance with the Green Bond Principles, 2021, Rivian intends to utilize the net proceeds of its issuance to finance, refinance, or invest in qualifying green initiatives.