Square, Moderna, First Solar and more

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Take a look at some of the biggest drivers in Primarket:

Square (SQ) – The digital payments company has agreed to buy Australia’s Afterpay for nearly $29 billion in shares, representing about a 30% premium to Afterpay shareholders. Square shares fell 4.8 percent in the primary market, but news of the deal boosted shares of US-based payment company AFRM by 8.2 percent.

Zoom Video (ZM) – The video conferencing company has agreed to pay $85 million to settle a lawsuit accusing it of violating users’ privacy rights. It also agreed to bolster its security practices to prevent so-called “Zoombombing,” in which hackers disrupt Zoom meetings.

General Electric (GE) – General Electric has completed a previously announced reverse stock split for eight shares and will begin trading on a post-retail basis today.

Moderna (MRNA), Pfizer (PFE) and BioNTech (BNTX) — Moderna and Pfizer have both raised prices for Covid-19 vaccines in their latest supply contracts, according to the Financial Times. In addition, the Wall Street Journal reported that the Food and Drug Administration is under pressure to give both vaccines full approval and that this could happen within the next month for Pfizer and its partner BioNTech. Moderna prices are up 2.5% in the primary market, Pfizer is up 1%, and BioNTech is up 5.1%.

Foot Locker, Florida — The athletic footwear and apparel retailer announced a deal to buy California-based shoe store chain WSS for $750 million and Japan-based brand Atmos for $360 million.

Uber Technologies (UBER) – Uber shares are up 1.1% in pre-market trading after Gordon Haskett Research Advisors started coverage with a “buy” rating. Haskett described Uber as a company that constantly injects itself into the everyday lives of consumers through its delivery and food delivery services.

Capri Holdings (CPRI) – Capri rose 1.2% in the primary market after upgrading to “buy” from “neutral” at MKM Partners, which indicated a string of better-than-expected quarters for the company behind brands like Michael Kors and Versace. MKM also indicated an overall improvement in the luxury goods sector.

Discovery (DISCA) – Discovery is in informal talks about a possible bid for Britain’s state-owned Channel 4, according to Britain’s Telegraph.

Robinhood (HOOD) — More than 300,000 users of the stock trading app bought shares in Robinhood’s initial public offering last week, according to the Wall Street Journal. This represents about 1.3% of the company’s funded account base. Robinhood added 1.5% in pre-market trading.

Parker Hanfin (PH) – The manufacturer of motion control technology and other industrial products is buying British rival Meggett for $8.8 billion in cash. Parker-Hannifin shares were down 2.2% in pre-market activity.

Li Auto (LI) – The Chinese electric vehicle maker delivered 8,589 vehicles in July, an increase of 125% over July 2020. Shares of Li in the United States are up 4.3% in the primary market.

First Solar (FSLR) — Shares of the solar power systems maker rose 2.9% in premarket trading after Susquehanna Financial upgraded the stock to “positive” from “neutral,” based on management’s upbeat comments about solar module demand and prices.

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