Wednesday’s Pre-Market Look: Stocks In The News Before The Open

Anthera Pharmaceuticals (ANTH) plummeted 55% in pre-market trading after it said its Phase 3 study of its Sulloura drug in cystic fibrosis patients with exocrine pancreatic insufficiency missed its primary endpoint.

Amazon.com (AMZN)— Amazon was named Evercore’s top stock pick for 2017, based on the online retailer’s ability to turn its data-driven consumer insights into increased use of its site.

Boeing (BA) — Delta Air Lines (DAL) is canceling an order for 18 787 Dreamliner jets. That order was one that Delta assumed when it merged with Northwest Airlines back in 2008.

GNC Holdings (GNC) — GNC will close all 4,400 US stores today to overhaul the nutritional products retailer’s pricing system.

Nvidia (NVDA) — The chipmaker’s shares have risen for 10 consecutive sessions and are higher in pre-market trading. Analysts continue to say that the emergency of virtual reality is an ongoing tailwind for Nvidia, by far the leading gainer in the Nasdaq 100 this year.

Yelp (YELP) — The stock is indicated higher once again following a more than 5 percent gain on Tuesday, when it saw a surge in call option purchases. Options volume for the review website operator’s shares were more than five times the recent daily average.

Qualcomm (QCOM) — Qualcomm was fined $854 million by South Korean regulators for allegedly violating competition laws. The chipmaker said it would appeal the decision in court.

Nasdaq (NDAQ), Bats Global Markets (BATS) — Nasdaq and Bats are seeing success in convincing ETFs to defect from the New York Stock Exchange’s Arca Platform. The Wall Street Journal reports that more than 30 ETFs have left the NYSE this month for its rivals, although NYSE Arca – owned by Intercontinental Exchange – is still the industry leader.

Bank of New York Mellon (BK) was upgraded to ‘Strong Buy’ from ‘Outperform’ at Raymond James with a 12-month target price of $57.

Piper Jaffray warns that GameStop (GME) may post a 11% decline in holiday comparable sales and narrow its Q4 comparable sales forecast when it reports holiday sales results in mid-January.

YUM! Brands (YUM) may push higher today after it said it plans to sell Kentucky Fried Chicken in Turkey as it refranchises the restaurants it owns in the country.

Terraform Global (GLBL) rose over 2% in after-hours trading after Knighthead Capital boosted its stake in the company to 6.4% from 2.0%.

MiMedx Group (MDXG) gained almost 2% in after-hours trading after its EpiFix for treatment of partial and full-thickness neuropathic diabetic foot ulcers received coverage from insurer Aetna.

Source: FoxBusiness, CNBC, Barchart,Bloomberg, Reuters