Health Company Spikes Amid Buyout Rumors

Good morning Wake-Up Watchlisters! While you’re sipping cold brew you’ll see stock futures edged higher on Monday as investors prepare for the final stretch of earnings season. There will also be fresh inflation data this week, and last week’s blowout job report points to the Federal Reserve raising interest rates again.

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Here’s a look at the top-moving stocks this morning.

Signify Health (NYSE: SGFY)

Signify is up 17.11% premarket after The Wall Street Journal reported CVS Health is planning to make a bid for the healthcare platform. CVS is looking to expand its home-health services, and Signify Health is working with bankers to explore alternatives, including a sale, the Journal reported last week. Initial bids are due this coming week.

Bed Bath & Beyond Inc. (Nasdaq: BBBY)

Bed Bath & Beyond is up 18.87% premarket despite no significant improvement to its financials or overall outlook. The move appeared to be driven by speculative short-term bets on the meme stock. The company is facing increasing cash flow pressures that have reportedly led it to seek new loans on the private market, according to Bloomberg.

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Avalara Inc. (NYSE: AVLR)

Avalara is up 15.12% premarket as the company is set to report earnings today and events have been shaping up nicely. Avalara is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 5 cents per share, narrower than the Zacks Consensus Estimate of a loss of 8 cents per share.

Palantir Technologies (NYSE: PLTR)

Palantir is down 13.89% premarket after seeing signs of slowing demand from both government and international customers. The data analytics company beat earnings in its latest report, posting revenue of $473 million, up 26% from a year ago. However, it lowered its forecast for the rest of the year. Palantir expects revenue of between $474-475 million and adjusted income from operations of $54-$55 million for the third quarter.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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