Stocks Making The Biggest Premarket Moves: Walgreens, Kellogg, Eli Lilly, Delta and More

Several companies have experienced notable developments in premarket trading:

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Walgreens Boots Alliance: The retail pharmacy chain saw a decline of approximately 7% after revising its full-year earnings guidance to $4 to $4.05 per share, down from the previous forecast of $4.45 to $4.65 per share. Additionally, the company reported adjusted earnings per share for the fiscal third quarter of $1, falling short of the Refinitiv forecast of $1.07.

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Kellogg: Shares of Kellogg increased by 2.5% in premarket trading following an upgrade from Goldman Sachs to a "buy" rating. The firm stated that Kellogg was undervalued compared to the potential growth opportunity it offers to investors.

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Lordstown Motors: Lordstown Motors experienced a significant decline of 61% in premarket trading as it filed for bankruptcy protection. The U.S. electric truck maker also filed a lawsuit against Taiwan's Foxconn due to a failed deal.

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Delta Air Lines: The travel stock added approximately 1% in premarket trading after Delta provided a full-year adjusted earnings forecast of $6 per share, which is at the higher end of its previous guidance. The company cited strong demand and customers trading up to more expensive fare classes as reasons for its more optimistic outlook.

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American Equity Investment Life: The stock jumped by 15% in premarket trading following reports that Canadian investment firm Brookfield was close to acquiring the insurance firm for approximately $4.3 billion, as reported by Trade Algo.

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Eli Lilly: Shares of Eli Lilly gained 1.5% in premarket trading as the company released clinical results demonstrating the weight loss benefits of its experimental drug retatrutide. The study showed that patients lost up to 24% of their weight over nearly a year.

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Host Hotels & Resorts: Shares fell by nearly 2% after Morgan Stanley downgraded Host Hotels & Resorts from "equal weight" to "underweight." The financial firm expressed concerns about deteriorating trends in key markets and increased competitive supply compared to its peer group.

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