SHAK, SCHW, HRB, DD and more

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

Shake Shack – The fast-food chain saw its shares rise nearly 4% thereafter Wall Street Journal reported that activist investor Engaged Capital is planning a proxy battle for three seats on the company’s board. Engaged Capital acquired a 6.6% stake including swaps.

related investment news

Charles Schwab – Shares of the brokerage firm are up 2.4% in premarket trading. Raymond James said in a note on Monday that Schwab’s core banking business remains strong, which could help the stock gain as much as 30%. The company announced this on Friday Total client assets up 1% from March to April to $7.63 billion.

Magellan Midstream Partners, oneok – Shares of Magellan Midstream Partners rose 15.5% after it was announced that pipeline operator Oneok is Acquired the company for around US$18.8 billion. Oneok shares fell 5.5%.

H&R block, Intuitive – Tax preparers decreased 9.3% and 4.3% respectively after a Wall Street Journal Report on the Biden administration’s possible creation of a government-run online tax filing program. The IRS is scheduled to release the report this week, the newspaper said. The Agency have examined it under the Inflation Reduction Act.

SoFi Technologies – The stock is down nearly 6% premarket after Wedbush downgraded its rating, causing performance to underperform from neutral. The Wall Street company said SoFi’s fee income could be at an inflection point and it may need to raise capital this year to support growth.

Albemarle — Shares rose 2.7% after an upgrade to “Outperform” by Baird. The company said the lithium company could be a leader in both the short and long term.

Dupont de Nemours— Shares rose 2.7% in premarket trading after Deutsche Bank upgraded the chemicals company to buy from hold. The Wall Street company said the stock is trading at a 50% discount to its peers.

— CNBC’s Yun Li, Alex Harring and Brian Evans contributed coverage.