26 Feb DPZ, BRK, MRNA, FLNC and more
Check out the companies making headlines in premarket trading. Domino’s Pizza — Shares surged more than 6% after the restaurant chain said it will raise its dividend by 25% and increase its buyback program by an additional $1 billion. The increased dividend will be payable on March 9, while the additional stock repurchase was cleared to begin at the conclusion of the fourth quarter on Feb. 21. HashiCorp — Shares of the software company popped 8% on the back of an upgrade by Morgan Stanley to overweight from equal weight. The bank said HashiCorp should benefit from a resurgence in cloud initiatives. Berkshire Hathaway — Class B shares of Warren Buffett’s conglomerate climbed nearly 3% on the back of a nearly 30% year-over-year surge in operating earnings for the fourth quarter. Berkshire’s cash hoard also swelled to record levels. Gap — The clothing retailer added nearly 2% following an upgrade to neutral from JPMorgan, with the firm lauding the company’s widening assortment of products and cost saving efforts. Monday.com — Shares ticked up 2% after Bank of America initiated the coverage of the cloud platform company with a buy rating. Analyst Michael J. Funk noted consensus estimates on the stock “appear beatable” while the company will continue to make strong market share gains. Fluence Energy — Shares added more than 5% after an upgrade to positive from Susquehanna Financial. Analyst Biju Perincheril said the company’s improvements to both its balance sheet and its operations coupled with recent stock weakness gives investors an attractive entry point. Moderna — The biotech stock dipped 1.6% after a downgrade to reduce from hold by HSBC. The investment firm said in a note to clients that Moderna’s RSV vaccine may not be as effective as its competition. Amer Sports — Shares popped 6% following a slew of positive initiations for the athletic company, which manufacturers the Wilson tennis racket. Amer Sports was initiated at a buy, overweight or outperform rating at major banks including Goldman Sachs, JPMorgan, Citi, Bank of America and Morgan Stanley, among others. The sports equipment company went public earlier in February. — CNBC’s Jesse Pound, Michelle Fox and Lisa Kailai Han contributed reporting