WBA, K, LLY, DAL and more

Global Courant

A man walks out of a Walgreens pharmacy in New York City, March 9, 2023.

Leonardo Munoz | Corbis News | Getty Images

Check out the companies making the biggest strides in premarket trading.

Walgreens Boots Alliance – The retail pharmacy chain fell about 7% after the company cut its full-year profit forecast to $4 to $4.05 per share from its previous forecast of $4.45 to $4.65 per share. It also reported adjusted earnings per share for its fiscal third quarter of $1, beating a Refinitiv forecast of $1.07.

Kellogg — Stocks added 2.5% in premarket trading after Goldman Sachs upgraded to buy. The company said Kellogg was “mispriced” compared to the potential growth opportunity presented to investors.

Lordstown engines – Lordstown Motors plummeted 61% in the premarket after the US electric truck maker filed for bankruptcy protection and sued Taiwan’s Foxconn over a deal that fell through.

Delta Airlines – Travel stock added about 1% to premarket trading after Delta forecast full-year adjusted earnings of $6 per share, on the high side of previous guidance. The company cited strong demand and customers switching to more expensive share classes as reasons for the more optimistic outlook.

American Equity Investment Life — The stock rose 15% in premarket trading after Bloomberg reported that Canadian investment firm Brookfield was close to closing a deal to buy the insurance company for about $4.3 billion.

Eli Lilly — Stocks gained 1.5% in the premarket. Eli Lilly released clinical results Monday showing that the experimental drug retatrutide helped patients lose up to 24% of their weight after nearly a year.

Guest hotels and resorts — Shares fell almost 2% following a downgrade by Morgan Stanley from an equal weight to underweight. The Wall Street firm said it expects worsening trends in key markets and higher competitive offerings than its peer group.

— CNBC’s Sarah Min, Brian Evans, Jesse Pound, and Michael Bloom contributed to the reporting.

WBA, K, LLY, DAL and more

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