Stocks making the biggest moves premarket: Paramount, SolarEdge, Morphic Holding and more

Here are the latest movers and shakers you need to look out for:

Morphic Holding’s share price soared by over 75% as news of a potential $3.2 billion acquirement deal with Eli Lilly came to light. This deal gives Eli Lilly access to Morphic’s developmental treatment portfolio, causing a 0.2% increase in their own shares.

Paramount Global shares notched up by 2% after announcing a merger with Skydance Media on Sunday.

SolarEdge shares took a 5% leap as Bank of America moves its rating from underperform to neutral. The bank cites an attractive entry point for potential investors but is awaiting a solid recovery in margin and cash flow.

ServiceNow’s shares dipped by 3% as Guggenheim shifted its rating from neutral to sell. Doubts over an increase in the company’s AI business were the main reasons for the downgrade.

Domino’s Pizza shares are on the rise, with a 1% premarket surge following an outperform rating upgrade from Baird. The firm recognized Domino’s strong business fundamentals, which have significantly boosted investor faith.

Shares of Gilead, the biotech company, rose more than 2% following an upgrade from Raymond James to outperform. The firm cited two promising drug candidates in the pipeline that could substantially propel revenue growth.

PNC’s shares went uphill by 1% as UBS upgraded the bank’s rating to buy, anticipating future loan demand improvements.

Meanwhile, KeyCorp saw a decrease of 1% in shares following a downgrade from UBS to neutral, citing that shares are appropriately valued for now.

Last but not least, Columbia Sportswear’s shares are on the upswing with a 2.1% increase after Stifel upgraded their rating to buy due to potential for positive revenue changes as outdoor activities continue to trend.