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Stocks making the biggest moves premarket: Centene, JPMorgan, Cava and more

Stocks making the biggest moves premarket: Centene, JPMorgan, Cava and more

CNBC02-07-2025
Check out the companies making headlines before the bell. JPMorgan Chase , Bank of America , Wells Fargo , Goldman Sachs , Citigroup — Major bank stocks rose less than 1% after the firms said they plan to hike dividends after receiving stress test results from the Federal Reserve. JPMorgan also announced a new stock buyback program. Rigetti Computing — Shares gained nearly 2% after Cantor Fitzgerald initiated coverage of the quantum computing company with an overweight rating, and a $15 price target implying more than 30% upside from Tuesday's close. Analyst Troy Jensen said: "Quantum computing is in its infancy but remains one of the most highly coveted technical milestones with enormous economical implications. While we are likely years away from full-scale quantum capabilities, the technology has already captured the interest of investors." Verint Systems — Shares of the customer service software provider jumped 10% following a Bloomberg report that the company is in talks about a possible acquisition with buyout firm Thoma Bravo. Centene — Shares of the managed care giant plummeted 30% after Centene withdrew its 2025 guidance , saying that recent data the company received shows lower enrollment rates in health insurance marketplaces in several states. From the data, which accounts for 22 of Centene's 29 marketplace states, the company said it expects a shortfall that will lower its adjusted earnings by about $2.75 per share. Higher medical costs in Centene's Medicaid business have continued to weigh on the business. Cava — Shares popped 2% after KeyBanc initiated the Mediterranean fast-casual chain at an overweight rating . Analyst Christopher Carril pointed out Cava's lack of direct competitors as a catalyst, and said that Cava had the potential to one day be the Chipotle of Mediterranean food. — CNBC's Lisa Han, Sarah Min and Michelle Fox contributed reporting.
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