Fly Intel: Pre-market Movers

HIGHER: Gilead (GILD), up 7% after announcing the initiation of two Phase 3 clinical studies to evaluate the safety and efficacy of remdesivir in adults diagnosed with COVID-19, or novel coronavirus... Sorrento Therapeutics (SRNE), up 1% after announcing it has initiated a clinical and manufacturing collaboration with Celularity to expand the therapeutic use of Celularity's CYNK-001, an allogeneic, off-the-shelf, placental-derived Natural Killer cell therapy, to the treatment and prevention of coronavirus infections. UP AFTER EARNINGS: Square (SQ), up 6%... Etsy (ETSY), up 9%. DOWN AFTER EARNINGS: AB InBev (BUD), down 9%... Discovery (DISCA), down 6%... QEP Resources (QEP), down 19%... Anaplan (PLAN), down 32%... Portola Pharmaceuticals (PTLA), down 15%. ALSO LOWER: Tesla (TSLA), down 6% after Bloomberg reported registrations of new Teslas in China plunged 46% last month as the coronavirus outbreak adds to a slump in the country's car market... Virgin Galactic (SPCE), down 16% after Morgan Stanley analyst Adam Jonas downgraded shares to Equal Weight from Overweight and Credit Suisse analyst Robert Spingarn also downgraded the stock to Neutral from Outperform.