The stocks making the biggest moves in premarket trading include Eli Lilly, Coty, Amazon, Zynga, Delta, and more.
– Morgan Stanley raised its price target for Amazon to $2,800 from $2,600, saying it expects faster forward growth for Amazon even if overall consumer spending weakens. The firm has raised earnings estimates for Amazon while maintaining an "overweight" rating. – Zynga announced the acquisition of Turkey-based mobile game producer Peak for $1.8 billion in cash and stock.
Peak is the maker of the popular Toy Blast and Toon Blast mobile games. Separately, Zynga raised guidance for the current quarter and full year, not including any possible contribution from the Peak deal. – The Brazilian jet maker reported a quarterly loss of 57 cents per share, wider than the 33 cents a share loss anticipated by analysts.
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