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Business

WBA, K, LLY, DAL and more

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A man walks out of a Walgreens pharmacy in New York on March 9, 2023.

Leonard Munoz | Corbis News | Getty Images

Find out which companies are making the biggest leaps in pre-market commerce.

Walgreens Boot Alliance – The retail drugstore chain fell about 7% after the company lowered its full-year earnings forecast to $4 to $4.05 a share from its previous forecast of $4.45 at $4.65 per share. It also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07.

Kellogg – The shares added 2.5% in premarket trading after an upgrade from Goldman Sachs to buy. The company said Kellogg was “mispriced” against the potential growth opportunity available to investors.

Lordstown Engines – Lordstown Motors fell 61% in the pre-market after the US electric truck maker filed for bankruptcy protection and sued Taiwan’s Foxconn over a failed deal.

Delta Airlines – The travel stock added about 1% in premarket trading after Delta forecast full-year adjusted earnings of $6 per share, at the high end of previous guidance. The company cited strong demand and customers trading more expensive share classes as reasons for the more optimistic outlook.

American Equity Investment Life – The stock jumped 15% in premarket trading after Bloomberg reported that Canadian investment firm Brookfield was close to reaching a deal to buy the insurance company for about $4, $3 billion.

Eli Lily — Shares gained 1.5% pre-market. Eli Lilly on Monday released clinical results showing that its experimental drug, retatrutide, helped patients lose up to 24% of their weight after almost a year.

Host Hotels and Resorts – Stocks fell nearly 2% following a downgrade by Morgan Stanley to underweight from equal weight. The Wall Street firm said it expects trends to deteriorate in key markets and a more competitive supply compared to its peer group.

– CNBC’s Sarah Min, Brian Evans, Jesse Pound and Michael Bloom contributed reporting.

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