Stocks making the biggest moves premarket: PNC, IBRX, CPNG
Check out the companies making headlines before the bell. ImmunityBio — The biotech company jumped 13%, adding to a 30% rally in the previous session sparked by strong guidance for its bladder cancer drug Anktiva. ImmunityBio expects full-year revenue for the drug to jump 700%. Worthington Steel — The Columbus, Ohio-based maker of hot- and cold-rolled steel climbed 7% after agreeing to buy Germany’s Kloeckner & Co. , a metal processor, for an enterprise value of $2.4 billion. Coupang — Shares rose about 3% after Deutsche Bank upgraded the Korean retail giant to buy, saying most of the regulatory uncertainty has been priced in. QXO — Shares fell 7% after the roofing products maker announced it would sell $750 million in common stock. PNC — The Pittsburgh-based bank rose 4% after posting better-than-expected fourth-quarter results and offering promising guidance. PNC reported revenue of $5.96 billion versus an LSEG consensus estimate of $5.89 billion. Earnings of $4.88 per share also exceeded a forecast of $4.22 per share. PNC also put its total revenue growth by the end of 2026 at roughly 11%, topping the 8.7% estimated by analysts. Honeywell — The industrial giant ticked nearly 2% higher after receiving an upgrade to overweight from neutral at JPMorgan. The bank said investors should buy the stock as Honeywell moves forward with its planned break-up. Energy stocks — The stocks rose after the Trump administration pushed for an emergency auction that would encourage technology companies to bankroll power plants amid a rise in energy-guzzling data centers. GE Vernova and Bloom Energy gained 3%, while Oklo ticked up more than 1%. — CNBC’s Fred Imbert contributed reporting
