Stocks showing the biggest moves premarket: SOVO, BNTX, TSN

A truck delivers a load of live chickens to Tyson Foods’ processing facility in Monroe, North Carolina.

Alan slot | Tribune News Service | Getty Images

Check out the companies making headlines ahead of Monday’s bell.

Tyson Foods – Shares of the food processing company fell more than 7% after Tyson’s third-quarter annual report missed estimates for sales and earnings. Tyson posted adjusted earnings per share of 15 cents on sales of $13.14 billion. Analysts polled by Refinitiv were expecting 26 cents a share on revenue of $13.59 billion. Tyson’s sales fell year over year.

Tesla – Tesla shares fell 1% ahead of the IPO after the electric vehicle maker announced the departure of Zachary Kirkhorn as Chief Financial Officer. The company has appointed Chief Accounting Officer Vaibhav Taneja to fill the position.

DaVita — The dialysis company’s shares rose more than 1% after being upgraded from neutral to buy by UBS. In a note to clients, UBS said it sees “tailwinds supporting our above-average earnings estimates and contrarian buy rating.”

Sovos brands – Shares of Rao’s parent company Sovos Brands rose 25% in premarket trading after food giant Campbell Soup announced Monday it would acquire the pasta sauce maker for $2.33 billion. Campbell will pay $23 per share for the company, which is 27.6% higher than Sovos Brands’ last closing price. Campbell Soup shares fell 1.6%.

DraftKings – DraftKings rose 1.5% in premarket after Wells Fargo upgraded the sports betting app to overweight from neutral. The bank said that DraftKings’ EBITDA is “growing faster/steeper than previously anticipated and we expect the operational momentum to continue.”

Berkshire Hathaway — The conglomerate’s Class B shares are up more than 1% in premarket trading after Warren Buffett’s company reported a solid increase in operating profits in the second quarter, supported by increases in its insurance and investment income. Berkshire’s cash balance grew to nearly $150 billion, near a record and much larger than the $130.616 billion in the first quarter.

BioNTech – Shares of the biotech, which is Pfizer’s partner in developing Covid-19 vaccines, fell 4.9% after the company reported lower-than-expected sales for the second quarter. BioNTech reported quarterly sales of €168 million, while analysts polled by Refinitiv had expected €672 million. The company also announced that it had cut its planned research and development budget for this year.

KKR – Shares of the investment company are up more than 1% premarket after the company posted second-quarter adjusted earnings that beat analysts’ estimates and a 6% year-over-year increase in assets under management. KKR also announced that it is taking a minority stake in German space company OHB.

Nikola – Shares of the electric truck maker are up 7% in early morning trade, reversing part of their losses on Friday — when the stock fell on news of weaker-than-expected sales in the second quarter and the announcement that the company’s CEO was stepping down be, plummeted down by 26%.

Viatris – Shares are up more than 2% pre-IPO. Viatris delivered adjusted net income and adjusted sales that beat Wall Street expectations for the second quarter and reiterated its full-year guidance. Revenue came in at $3.92 billion, according to StreetAccount, beating the $3.86 billion expected by analysts.

— CNBC’s Fred Imbert, Samantha Subin, Yun Li, Tanaya Macheel and Jesse Pound contributed coverage. Stocks showing the biggest moves premarket: SOVO, BNTX, TSN

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