CureVac surges 23% in premarket trading after deal with British drugmaker.

By George Banko

July 3, 2024

Good Morning Wake-Up Watchlisters! Grab the fruit-infused summer latte and check out this week’s morning premarket report. Below you’ll see indexes were flat on Wednesday after the S&P 500 closed above 5,500 for the first time ever. However, investors are concerned the rally can only last for so long, and a pullback may be imminent in the coming months.

While some investors worry about pullbacks, our Lead Technical Tactician Nate Bear knows they’re a healthy part of the markets. It’s why he uses the “post-earnings surge” pattern in Profit Surge Trader to find high probability trades that have a chance at dealing outsized returns. This patient, measured approach has led to a 79% win rate overall, including an 26.57% gain last week on MPC.

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

CureVac (Nasdaq: CVAC)

CureVac is up 23.35% in premarket trading after British drugmaker GSK reached an agreement to buy the rights to CureVac’s Covid-19 and flu vaccines for up to $1.56 billion. CureVac also said it would be reduce its workforce by 30% as it focuses on mRNA-based cancer therapies and other earlier-stage projects.

Simulations Plus (Nasdaq: SLP)

Simulations Plus is down 6.68% in premarket trading after suspending its quarterly dividend as part of a plan to reallocate resources towards growth. The final dividend of 6 cents a share will be paid on Aug. 5 to shareholders of record of July 29. It also reported third-quarter adjusted earnings of 19 cents a share that topped analysts’ estimates.

Tesla (Nasdaq: TSLA)

Tesla is up 2.62% in premarket trading after deliveries surpassed expectations. The stock has risen for 27% over the last six trading sessions.

Paramount Global (Nasdaq: PARA)

Paramount Global is up 11.94% in premarket trading after the Wall Street Journal reported it had reached a preliminary deal to combine with Skydance Media. The resurrected deal will see a reduced consideration of $1.75 billion, according to a person familiar with the matter.