PDCE - Hot Stocks: MRK COVID pill; FIVN ZM termination; COTY Wella deal; JEF earnings; PDCE lowers output forecast

Merck (NYSE:MRK) took the spotlight in Friday's pre-market trading. Shares of the drug giant rallied after its COVID treatment showed strong results in a clinical trial. Five9 (NASDAQ:FIVN) and Zoom Video Communications (NASDAQ:ZM) made headlines as well. Their stocks pushed higher in pre-market after the firms canceled their merger deal. Elsewhere, Coty (NYSE:COTY) rose before the bell on a deal to sell part of its Wella stake to KKR (NYSE:KKR). Jefferies (NYSE:JEF) also saw pre-market strength, climbing in the wake of its earnings report. Looking at one of the losers in pre-market action, PDC Energy (NASDAQ:PDCE) lost ground after it cut its production forecast. Gainers Merck (MRK), along with its partner Ridgeback Biotherapeutics, revealed that its anti-COVID pill reduced the risk of hospitalization or death by about 50% in a late-stage clinical trial. MRK plans to file for an Emergency Use Authorization for the drug, known as molnupiravir, with the

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Hot Stocks: MRK COVID pill; FIVN, ZM termination; COTY Wella deal; JEF earnings; PDCE lowers output forecast