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Stocks making the biggest moves premarket: Lions Gate Entertainment, Legg Mason, Lyft & more

Check out the companies making headlines before the bell:

Lions Gate Entertainment — Lions Gate received an informal offer from CBS to buy its Starz cable network, according to sources who spoke to CNBC. No deal is imminent, however, sources say. CBS had made an offer for Starz before it was bought by Lions Gate in 2016.

Legg Mason — Legg Mason is near a settlement with activist hedge fund Trian Management, according to Dow Jones. People familiar with the matter say the money manager would gave Trian three or four seats on the board, and that a deal could be announced soon.

Lyft — Lyft was sued by a group of investors over its initial public offering. The suit said Lyft misled investors about its market position and labor matters, and that the company’s “false and misleading” statements inflated the company’s share price. The stock has lost 25% since going public.

Target — Target was upgraded to “equal-weight” from “underweight” at Morgan Stanley, which said its concerns about Target’s medium term profit margins now appear to be reflected in the stock’s price. The retailer is scheduled to report its quarterly earnings on Wednesday morning.

Tesla — An analyst report at Wedbush is raising concerns about underlying demand for the automaker’s Model 3 in the U.S. and said Tesla faces a considerable uphill climb in achieving its second half profitability goals.

T-Mobile US — T-Mobile is set to announce asset sales and other concessions to win approval for its deal to buy wireless competitor Sprint, according to a Bloomberg report.

Uber — Uber’s initial public offering was undermined by big investors, according to The Wall Street Journal. The paper said BlackRock, Tiger Global Management, and other pre-IPO investors passed on buying more shares in the offering,

Article source: https://www.cnbc.com/2019/05/20/stocks-making-the-biggest-moves-premarket-lions-gate-entertainment-legg-mason-lyft-more.html

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