Here’s a look at the top gainers in premarket trading: CarMax — Shares of CarMax fell 9% after the used car retailer reported fourth-quarter earnings and revenue that missed estimates. CarMax’s earnings per share were 32 cents, while analysts polled by LSEG expected 49 cents. Revenue was $5.63 billion, missing consensus estimates of $5.8 billion. Nike — Shares of Nike rose 2% after Bank of America upgraded the stock to buy from neutral. The bank said Nike’s expectations now appear achievable, with the sneaker company expected to post mid-single-digit revenue growth and margin expansion. Robinhood — The stock fell nearly 3% after Citigroup downgraded it to sell. Analysts say the brokerage’s valuation has become disconnected from its fundamental outlook. Shares are up 44% so far this year. Constellation Brands — The beverage company behind Modelo beat fourth-quarter results and said its beer business performed better than expected, sending its shares up 1%. Constellation Brands reported revenue of $2.14 billion, exceeding the $2.1 billion expected by analysts polled by LSEG. Alpine Immune Sciences — Shares of Alpine Immune Sciences soared nearly 37% after Vertex Pharmaceuticals said it would acquire the company for about $4.9 billion in cash. The deal values Alpine shares at $65, up about 67% from Tuesday’s closing price, and comes just a day before Bloomberg reported that Alpine was considering its options. Vertex shares were flat. Vera Therapeutics — Shares of Vera Therapeutics rose more than 10% following the announcement of the Vertex-Alpine deal. Both Alpine and Vera are potential drug candidates for treating kidney diseases such as IgA nephropathy. Albemarle — Shares of the chemicals company rose 1% after Berenberg upgraded the stock to buy from hold. The company said it expects Albemarle’s sales and prices to trend upward. Berenberg also raised his price target by $30 to $160, suggesting upside potential of more than 25%. Atlassian — Shares of Atlassian rose 4% after Barclays upgraded the stock to overweight from flat. The maker of work collaboration software should see more enterprise customers move to the cloud, the company said. Barclays said improvements in software developer recruitment should also support cloud revenue opportunities. DoorDash — The food delivery platform gained 2% after MoffettNathanson upgraded the stock to buy from neutral. Despite concerns about near-term headwinds, the investment research firm said DoorDash should be able to capture growing demand for grocery delivery and see upside to earnings forecasts. —CNBC’s Alex Harring and Sarah Min contributed reporting.
