Stocks making the biggest moves in the premarket: Illumina, Cara Therapeutics, Snap & more

SectorFinancial Markets

Take a look at some of the biggest movers in the premarket: Illumina (ILMN) – Illumina issued preliminary current-quarter and full-year guidance that exceeded current analyst estimates. The life sciences company said its projected results are being driven by record orders in its gene-sequencing and related businesses. Illumina jumped 9.2% in premarket action. Cara Therapeutics (CARA) – Cara Therapeutics shares surged 11.4% premarket following news that the biopharmaceutical company's stock will be added to the S&P SmallCap 600 index, effective on Wednesday. Snap (SNAP) – Snap shares gained 1.5% in premarket action following an upgrade at Atlantic Equities, which now rates the Snapchat parent's stock at "overweight" vs. the prior "neutral." The firm cites valuation as a key factor, as well as Snap's transformation from a messaging-centric platform to a broad content platform. Credit Suisse (CS) – The bank will take a $4.7 billion hit from its dealings with hedge fund Archegos Capital Management, and has announced the departure of Chief Risk Officer more...