Take a look at the companies that made the biggest gains in pre-market trading: CarMax — Shares fell 9% after the used car retailer reported a loss and lost revenue for the fourth quarter. CarMax’s earnings came in at 32 cents per share, versus 49 cents expected by analysts polled by LSEG. Revenue was $5.63 billion, below the consensus estimate of $5.8 billion. Nike — Shares rose 2% after Bank of America upgraded its rating to neutral. The bank said Nike’s valuations now look achievable, forecasting mid-single-digit revenue growth while boosting the sneaker company’s profits. Robinhood – The stock fell nearly 3% after Citi downgraded it to sell. Analysts said the brokerage firm’s valuation fell short of its fundamental forecasts. The stock has jumped 44% year to date. Constellation Brands – Shares added 1% after the beverage company behind Modelo beat expectations in the fourth quarter, saying its beer business outperformed. Constellation Brands posted revenue of $2.14 billion, beating the $2.10 billion forecast by analysts surveyed by LSEG for Alpine Immune Sciences. Alpine Immune Sciences shares rose nearly 37% after Vertex Pharmaceuticals said it would buy the company for about $4.9 billion in cash. The deal traded Alpine shares at $65, up about 67% from Tuesday’s closing price, a day before Bloomberg reported Alpine was considering its options. Vertex shares remained unchanged. Vera Therapeutics – Shares jumped more than 10% after the Vertex-Alpine deal was announced. Both Alpine and Vera have drug candidates that could potentially treat the kidney disease IgA nephropathy. Albemarle — Shares of the chemical company rose 1% after Berenberg recommended buying the stock out of position. The firm said it expects Albemarle volumes and prices to increase. Berenberg also raised his price target by $30 to $160, implying more than 25% upside. Atlassian – Shares jumped 4% after Barclays upgraded them to overweight from equal weight. The firm said the collaboration software maker should see a wider range of enterprise customers move to the cloud. Improved hiring of software developers should also help boost cloud revenue, Barclays said. DoorDash — The food delivery platform gained 2% after MoffettNathanson moved back to neutral. Despite concerns about near-term headwinds, the investment research firm said DoorDash should address growing demand for grocery delivery and could see potential for profitability estimates to rise. — CNBC’s Alex Harring and Sarah Min contributed reporting.
