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

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

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 Lara Warner and investment banking head Brian Chin. Credit Suisse also launched an investigation into the Archegos-related losses.

Moderna (MRNA) - Moderna struck an agreement with contract manufacturer Catalent (CTLT) to nearly double output of Moderna's Covid-19 vaccine at Catalent's Bloomington, Indiana,