Stocks making the biggest moves premarket: Best Buy, Seagen, Union Pacific and more

Check retired the companies making headlines earlier the bell.

Union Pacific — Shares roseate 9.5% aft the institution said CEO Lance Fritz would person a successor named this year. Bank of America upgraded the banal to bargain from neutral pursuing the news.

Seagen — Shares soared by 14.9% aft The Wall Street Journal reported that Pfizer is successful talks to get the crab drugmaker, which has a marketplace worth of astir $30 billion. 

Best Buy — The retailer slipped 1.5% successful the premarket aft being downgraded to marketplace execute from outperform by Telsey Advisory Group. The Wall Street steadfast said it expects precocious ostentation and rising involvement rates to measurement connected Best Buy's 2023 income and profits.

Berkshire Hathaway — Shares of Warren Buffett's conglomerate could beryllium progressive successful premarket aft the institution reported Saturday that its operating profits fell during the 4th fourth amid inflationary pressures. Berkshire's operating net totaled $6.7 cardinal past quarter, down 7.9% from a twelvemonth ago. The Omaha-based institution utilized $2.855 cardinal to bargain backmost shares successful the quarter.

Viatris — The wellness attraction institution fell 1.5% aft reporting fourth-quarter results. Adjusted nett income for the play came successful astatine $823 million, beneath a StreetAccount forecast of $850.4 million. Viatris besides said erstwhile Celgene COO Scott Smith would instrumentality implicit arsenic CEO, effectual April 1.

Alliant Energy — Shares dropped much than 3% aft the company reported that it intends to connection $500 cardinal of its convertible elder notes owed 2026. Net proceeds from the offering whitethorn beryllium utilized for wide purposes specified arsenic repayment oregon refinancing of debt, moving superior and investments and repurchases, Alliant said.