Virgin Galactic stock tumbles, while CarMax and Conformis climb and other stocks on the move

Breaking News

Here are some of the biggest movers of the day ahead of Friday’s market open:

Stock gainers:

CarMax Inc. stock

is rallying 8.3% toward a nine-month high in premarket trading Friday, after the used car seller reported adjusted first-quarter profit of $1.16 a share, well above the FactSet consensus of 79 cents. Total sales dropped 17.4% to $7.69 billion, but beat the FactSet consensus $7.50 billion, as used vehicle sales fell 14.4% to $6.00 billion while wholesale vehicle sales declined 28.5% to $1.51 billion. 

Conformis Inc. 

 stock shot up by 90.5% to pace all premarket gainers in active trading Friday, after the orthopedic patient care company announced an agreement to be acquired by Restor3d for a 96% premium. Restor3d will pay $2.27 in cash for each Conformis share. The price is 95.7% above Conformis’s Thursday closing price of $1.16. ”

Trupanion Inc. 

stock jumped 16% in premaket trading after the pet-insurance provider announced that California and New York approved double-digit rate increases, saying that the hikes were “necessary in today’s rising cost of veterinary care environment.”

Shares of Smith & Wesson Brands Inc.

jumped 8% after the gun maker reported fiscal fourth-quarter results that topped expectations and said its board approved a 20% dividend hike


shares rose more than 5% in premarket trading after the pharmaceutical group said said Friday it has reached a confidential settlement over a lawsuit involving heartburn treatment Zantac and accusations that it causes cancer. The case, which was filed in a California state court, will be dismissed, the company said. Shares of Haleon PLC 

 and Sanofi 
 also affected by litigation fears, rose modestly.

3M Co. shares

rose 3% after the materials and chemicals company, and Dow Jones Industrial Average

component, offered $10.3 billion to settle claims it was responsible for so-called “forever chemicals” in drinking water.

Stock decliners:

Shares of Virgin Galactic Holdings Inc.

dropped 15% in premarket trading after the space-tourism company said late Thursday in a filing it’s seeking to raise $400 million to scale up its business and improve its fleet.

Canopy Growth Corp. shares were down 2% after the Canadian pot producer reported another quarter of deeper-than-expected losses and weaker sales.

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