Oak Street Health, Frontline, Boeing among stocks making biggest moves in premarket trading

Oak Street Health's shares surged 36% after a Bloomberg report that CVS is exploring options to buy the health care company for more than $10 billion. CVS stock ticked down about 0.5% on the news.
The shipping stock Frontline surged more than 24% in premarket trading after it announced that it was terminating its combination with Euronav. Frontline CEO Lars Barstad said that both companies "are already enjoying economies of scale."
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CureVac's stock shot up 19% after the company announced plans for further patient trials of its mRNA vaccines for Covid-19 and the flu. The company also announced that Sanofi veteran Alexander Zehnder will become CEO in April.
Boeing's stock fell more than 2% after Morgan Stanley downgraded the company to equal weight from overweight. In a note, Morgan Stanley cited a lack of potential upside from current levels. "We see a balanced risk reward as the majority of the near- and medium-term positive catalysts for the stock have been realized," the note said.
Norwegian Cruise Line's shares dropped 3.3% after a downgrade to underweight from equal weight by Morgan Stanley. The firm cited concerns over how overcapacity could hurt pricing power. Meanwhile, Morgan Stanley upgraded competitor Royal Carribean to equal weight from underweight. Royal Carribean's shares added 0.3% in the premarket.
Coinbase plans to cut 20% of its workforce, marking the second major round of cuts as the company looks to trim costs after hitting expansion mode during the bull market. The move comes as the company looks to cut costs and focus on its core business.
Sotera Health's shares soared more than 58% in the premarket after the company announced that its subsidiaries had reached agreements to settle more than 870 cases relating to exposure to ethylene oxide, a carcinogen. Sotera agreed to pay $408 million, and said the settlement was not an admission that the emissions posed a safety hazard.
Bumble's stock rose by more than 2% after KeyBanc upgraded it to "overweight" from "sector weight." The investment firm cited the company's stable competitive environment and easing economic pressures as reasons for the upgrade.
Virgin Orbit's stock tumbled 19% after the company's satellites failed to reach their target orbit. "While we are proud of the many things we successfully achieved as part of this mission, we are mindful that we failed to provide our customers with the launch service they deserve," CEO Dan Hart said.