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Kansas City Southern, AMC Entertainment Rise Premarket; Casper Sleep Falls

·2 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, August 10th. Please refresh for updates.

Kansas City Southern (NYSE:KSU) stock rose 6.5% after Canadian Pacific Railway (NYSE:CP) raised its offer for the railroad operator by about $2 billion to $27.29 billion, deepening a bidding war with larger rival Canadian National Railway (NYSE:CNI).

AMC Entertainment (NYSE:AMC) stock rose 7.2% after the troubled movie theater chain reported a lower loss than expected after the close Monday, as customers returned after a year of closures and restrictions.

Fisker (NYSE:FSR) stock rose 14% after Morgan Stanley resumed coverage on the electric vehicle maker with an ‘overweight’ rating and a target of $40, offering upside of 166%, citing the focused strategy on design and engineering and supply chain as a big attraction.

Moderna (NASDAQ:MRNA) stock rose 1.7% and BioNTech (NASDAQ:BNTX) stock rose 1.6% ahead of new guidance on the need for Covid-19 boosters.

Workday (NASDAQ:WDAY) stock rose 2.5% after the Cloud-based business applications company announced a tie-up with Google (NASDAQ:GOOGL) that will allow its clients to run its applications on Google Cloud.

GameStop (NYSE:GME) stock rose 1.8% after AMC Entertainment CEO Adam Aron indicated he was looking to pursue some sort of partnership between the two meme favorites.

Casper Sleep (NYSE:CSPR) stock fell 6.1% after the mattress maker reported record quarterly revenue, boosted by strong growth in both retail and direct-to-consumer sales channels.

InterContinental Hotels (NYSE:IHG) ADR fell 1.9% after the hotel chain ended its dividend to cut costs even after it reported an operating profit for the first six months of the year, rebounding from a year-ago loss.

Chegg (NYSE:CHGG) stock rose 3.9% after the online education company raised its full-year forecast, boosted by strong quarterly earnings and healthy international growth.

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