Stocks Making The Biggest Moves Pre-market

Wirecard – shares rallied more than 125% in early trade as the German payments company vowed to continue business activities after filing for insolvency. This represented only a small real share price increase to 2.89 euros per share ($3.25), following the stock’s recent plunge, on the back of the $2.1 billion discovered to be missing from its balance sheet.

Lufthansa –At the bottom of the Stoxx 600, the German airline slid 3.5%.

Gap — Shares of the retailer soared more than 28% after it announced a partnership with musician Kanye West. West’s Yeezy design studio will design clothing lines for Gap, and the first products are expected in 2021, according to a press release.

Bed Bath & Beyond — Shares of the retailer jumped 8% on Friday after Bank of America said Buybuy Baby’s enterprise value could be equal to nearly all the current enterprise value of Bed Bath & Beyond. Bank of America — which has a buy rating on Bed Bath & Beyond — hiked its price target to $14.50 per share from $12.50 per share.

Facebook — shares sank about 5% in midday trading after Verizon joined a growing group of companies that have announced they are pulling advertising on the company’s platforms. The move lends support to a boycott campaign accusing the social media giant of not doing enough to stop hate speech on its platform.

 Harley-Davidson — The motorcycle maker’s stock dropped 5.5% in midday trading on Friday after it said is eliminating 140 U.S. jobs following its decision to adjust production quantity. Ninety jobs will be cut at Harley’s York, Pennsylvania, plant, while 50 jobs will be cut at its facility in Tomahawk, Wisconsin.

Virgin Galactic —stock gained 1.7% after its second successful glide flight of its spaceship over Southern New Mexico, with pilots flying the ship at faster speeds than during the initial flight. The company said that after it completes a data review, it can “start preparing for the next stage” of its flight testing program: Full rocket-powered test flights.

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