Delta, Cigna , CVS Surge Premarket; Take-Two Falls By

© Reuters. – Stocks in focus in premarket trading on Thursday:

• Delta Air Lines (NYSE:) stock rose 2.1% in premarket trade by 8:28 AM ET (12:28 GMT) after it reported a 39% surge in quarterly profit due to higher fares. It also forecast a strong summer, picking up passengers at the expense of rivals hit by the grounding of their Boeing (NYSE:) 737 MAX aircraft. Delta does not have any of the model in its fleet.

• Pharmacy-benefit managers were higher after the White House dropped its plan to curb drug rebates that drugmakers often give to middlemen, which the government has said would help drive down the price of drugs. Cigna (NYSE:) jumped 7.9%, while CVS Health (NYSE:) surged 5.8% and UnitedHealth (NYSE:) gained 3.3%.

• Bed Bath & Beyond (NASDAQ:) stock slumped 4.7% on analyst downgrades after the company was hit with a $400 million impairment in the second-quarter.

• (NASDAQ:) stock rose 0.6%, after the Wall Street Journal reported that the company plans to retrain up to a third of its U.S. staff by 2025 in an effort to retain staff.

Take-Two Interactive (NASDAQ:) fell 1.2% after an analyst at Jefferies downgraded the company from buy to hold, citing concerns of its lack of a near-term catalyst, according to StreetInsider.

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