Premarket movers: Splunk, Blackstone, Aerojet Rocketdyne and others

Take a look at some of the biggest movers in the premarket:

According to sources, Cisco made a $20 billion takeover bid for Splunk, which would be its largest acquisition to date. Splunk's stock price increased by 7.9% in premarket trading, while Cisco's shares decreased by 1%.

Australian casino operator Crown Resorts was bought by a private-equity firm for $6.3 billion. Shareholders will vote on the transaction in the second quarter, and the deal needs regulatory approval. Blackstone fell 2.6% in the premarket.

The $4.4 billion deal between defense contractor LMT and rocket motor builder Aerojet Rocketdyne has been abandoned after federal regulators sued to block it in January due to anti-competitive concerns. Aerojet Rocketdyne fell 2.2% in premarket trading, while Lockheed Martin edged up 0.5%.

Nearly 20 million shares of Rivian, an electric truck maker, were bought by Soros Fund Management during the fourth quarter of 2021, according to the fund’s quarterly filing. The stake was worth about $2 billion at the time of purchase, but its value has fallen to about $1.17 billion. Rivian was down 1.8% in premarket trading.

Jitse Groen, CEO of Just Eat Takeaway, stated on a Dutch TV program that the company's decision to delist from the Nasdaq does not indicate any intention to sell its Grubhub unit. Groen explained that the delisting is a cost reduction measure, but the company is still evaluating its options for the U.S.-based delivery service. The stock price fell 1.3% in premarket trading.

The FDA has granted emergency use authorization to Eli Lilly's new Covid-19 antibody drug for use in adults and adolescents, despite earlier Covid treatments being less effective against the omicron variant.

Barclays downgraded Tyson Foods from "overweight" to "equal weight" in a valuation call, with the meat and poultry producer's stock up 12.4% so far this year. Despite this, Barclays sees limited upside potential at current levels, with anticipation of strong quarterly results already priced in. As a result, Tyson fell 1.4% in the premarket.

The stock of the chip manufacturer decreased by 1.4% during premarket trading after Raymond James changed its rating from "outperform" to "market perform." The reason for this downgrade is due to unexpected information about a late-cycle increase in capital spending.

The value of the stake Soros Fund Management purchased in Rivian was approximately $2 billion at the time of purchase, as shown in this updated article.