Check out the companies making headlines before the bell:
Regeneron Pharmaceuticals (REGN) – Shares of the pharmaceutical company rose 2% after Regeneron said that a single dose of its antibody cocktail could provide long-term protection against Covid-19.
Caterpillar (CAT) – The industrial stock jumped more than 4% in premarket trading after it was announced a fresh pick at investment firm Baird. Caterpillar could see strong earnings in the next few years as the newly passed infrastructure bill adds to a strong demand environment, Baird said in a note to clients.
Autolus Therapeutics (AUTL) – The biotech stock surged 25% after Blackstone said it would invest up to $250 million in Autolus. The investment will help Autolus continue to build on a treatment for leukemia, the companies said in a release.
Coty (COTY) – The makeup and beauty stock rose 6.5% after the company reported better-than-expected results for its fiscal first quarter, according to estimates from StreetAccount. Coty also announced that it was selling more of its stake in Wella to KKR.
Krispy Kreme (DNUT) – Shares of the doughnut chain dipped in premarket trading following a downgrade from Truist. The investment firm said that the tight labor market could hold back Krispy Kreme's expansion plans.
Canopy Growth (CGC) – The pot stock was under pressure in premarket trading following a pair of downgrades from Cowen and Canaccord Genuity. Canopy reported its fiscal second-quarter results last week, and revenue missed expectations.
SoftBank Group Corp (9984.T) – Shares of the Japanese bank fell less than 1% in Tokyo trading after SoftBank reported a loss for its fiscal second quarter. The company took a $10 billion loss from its Vision Fund, weighed down by losses in Chinese tech stocks, according to Reuters.
Live Nation (LYV) – The entertainment promotion company saw its stock fall nearly 4% in premarket trading on Monday after multiple people died at a Travis Scott concert over the weekend. Live Nation has reportedly been named a defendant in lawsuits about the event.