Market Insider

Stocks making the biggest premarket moves: Walgreens, Kellogg, Eli Lilly, Delta and more

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A man walks out of Walgreens pharmacy on March 09, 2023 in New York City. 
Leonardo Munoz | Corbis News | Getty Images

Check out the companies making the biggest moves in premarket trading:

Walgreens Boots Alliance — The retail pharmacy chain sank about 7% after the company lowered its full-year earnings guidance to $4 to $4.05 per share from its previous forecast of $4.45 to $4.65 per share. It also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07.

Kellogg — Shares added 2.5% in premarket trading after an upgrade from Goldman Sachs to buy. The firm said Kellogg was “mispriced” compared to the potential growth opportunity offered to investors.

Lordstown Motors — Lordstown Motors tumbled 61% in the premarket after the U.S. electric truck maker filed for bankruptcy protection and sued Taiwan’s Foxconn for a deal that came apart.

Delta Air Lines — The travel stock added about 1% in premarket trading after Delta forecast full-year adjusted earnings of $6 per share, at the high end of previous guidance. The company cited strong demand and customers trading up to more expensive share classes as reasons for the more optimistic outlook.

American Equity Investment Life — The stock jumped 15% in premarket trading after Bloomberg reported Canadian investment firm Brookfield was close to making a deal to buy the insurance firm for approximately $4.3 billion.

Eli Lilly — Shares gained 1.5% in the premarket. Eli Lilly released clinical results Monday that showed its experimental drug retatrutide helped patients lose up to 24% of their weight after almost a year.

Host Hotels & Resorts — Shares fell nearly 2% following a downgrade by Morgan Stanley to underweight from equal weight. The Wall Street firm said it expects deteriorating trends in key markets and higher competitive supply versus its peer group.

— CNBC’s Sarah Min, Brian Evans, Jesse Pound and Michael Bloom contributed reporting.

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