Pre-market Movers: ADGI, DRCT, SDIG, PGRU, CEAD…

Pre-market Movers: ZTEK, LBPS, ALLG, CNTG, GAN…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.50 A.M. ET).

In the Green

Zentek Ltd. (ZTEK) is up over 109% at $5.71
4D pharma plc (LBPS) is up over 61% at $7.55
Allego N.V. (ALLG) is up over 24% at $10.34
Femasys Inc. (FEMY) is up over 16% at $2.20
Gravity Co., Ltd. (GRVY) is up over 11% at $55.60
Good Times Restaurants Inc. (GTIM) is up over 11% at $4.29
The Marygold Companies, Inc. (MGLD) is up over 11% at $2.09
TMC the metals company Inc. (TMC) is up over 10% at $2.43
Koss Corporation (KOSS) is up over 7% at $10.35

In the Red

Centogene N.V. (CNTG) is down over 22% at $3.28
GAN Limited (GAN) is down over 17% at $4.50
FirstMark Horizon Acquisition Corp. (FMAC) is down over 16% at $8.22
Piedmont Lithium Inc. (PLL) is down over 8% at $69.06
Virios Therapeutics, Inc. (VIRI) is down over 8% at $5.01
Rice Acquisition Corp. (LFG) is down over 7% at $18.16
Ermenegildo Zegna N.V. (ZGN) is down over 7% at $10.04
JX Luxventure Limited (LLL) is down over 5% at $4.15

Citi To Sell Its Consumer Businesses In India To Axis Bank For $1.6 Bln

Citigroup Inc. (C) on Wednesday announced that it has reached an agreement with India’s Axis Bank Limited for the sale of Citi’s consumer businesses in India for a cash consideration of approximately $1.6 billion.

The transaction is expected to result in the release of approximately $800 million of allocated tangible common equity. The deal forms part of Citi’s global exit from its consumer banking franchises in 13 markets across Asia and EMEA that is expected to release approximately US$7 billion of allocated tangible common equity over time.

The sale is expected to close in the first half of calendar year 2023.

The deal involves the sale of consumer banking businesses of Citibank India -credit cards, retail banking, wealth management and consumer loans- and consumer business of Citi’s non-banking financial company, Citicorp Finance (India) Limited (asset-backed financing business, commercial vehicle and construction equipment loans and personal loans portfolio).

The sale, however, excludes Citi’s institutional client businesses in India. Citi’s Banking, Capital Markets and Advisory Group is acting as exclusive financial advisor to Citi in respect of the transaction.

CVS Health reaches $484 million opioid settlement with Florida

FILE PHOTO: People walk by a CVS pharmacy store in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo

(Reuters) – CVS Health Corp said on Wednesday it had entered into an agreement with the state of Florida to resolve claims related toprescriptions for opioid medications for $484 million to be paid over a period of 18 years.

As a result of the agreement, CVS Pharmacy will no longer be a defendant in Florida’s opioid lawsuit that is scheduled for trial in April 2022.

MSC Industrial Supply Co. Q2 Profit Beats Estimates; Net Sales Up 11.4%

MSC Industrial Supply Co. (MSM) reported second quarter adjusted EPS of $1.29 compared to $1.03, a year ago, a 25.2% increase. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.22, for the quarter. Analysts’ estimates typically exclude special items.

Net income attributable to MSC increased to $69.9 million from $18.1 million, prior year. EPS was $1.25 compared to $0.32.

Net sales were $862.5 million, an increase of 11.4% from prior year. Analysts on average had estimated $855.96 million in revenue.

Kristen Actis-Grande, CFO, said, “Strong top line growth combined with gross margin execution and Mission Critical cost savings resulted in 11.6% adjusted operating margin and 22.4% adjusted incremental margin over the prior year fiscal second quarter. With the building momentum, we are adding a low double-digit growth tier to our fiscal 2022 annual adjusted operating margin framework with a corresponding annual adjusted operating margin between 12.5% and 13.1%. Should recent trends continue, we expect to be in that range.”

‘Nitram’ Review: Slouching Toward Infamy

In this unnerving drama based on a true crime, a lonely outsider reaches his breaking point.

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Jeannette Catsoulis

Pre-market Movers: ADGI, DRCT, SDIG, PGRU, CEAD…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.45 A.M. ET).

In the Green

Adagio Therapeutics, Inc. (ADGI) is up over 76% at $6.80
Direct Digital Holdings, Inc. (DRCT) is up over 31% at $3.38
PropertyGuru Limited (PGRU) is up over 15% at $8.20
MillerKnoll, Inc. (MLKN) is up over 12% at $37.00
Vir Biotechnology, Inc. (VIR) is up over 11% at $25.07
Team, Inc. (TISI) is up over 7% at $2.06
Lululemon Athletica Inc. (LULU) is up over 6% at $368.01
Höegh LNG Partners LP (HMLP) is up over 6% at $7.84
Grupo Aval Acciones y Valores S.A. (AVAL) is up over 6% at $4.86
Cue Health Inc. (HLTH) is up over 5% at $7.08

In the Red

Stronghold Digital Mining, Inc. (SDIG) is down over 29% at $7.19
CEA Industries Inc. (CEAD) is down over 15% at $2.25
Chewy, Inc. (CHWY) is down over 13% at $44.11
Microvast Holdings, Inc. (MVST) is down over 11% at $6.55
Eqonex Limited (EQOS) is down over 8% at $2.25
Pearson plc (PSO) is down over 7% at $9.73
PharmaCyte Biotech, Inc. (PMCB) is down over 7% at $2.19
Arlo Technologies, Inc. (ARLO) is down over 6% at $8.50