Take a look at some of the biggest movers in the premarket:

AT&T (T), Discovery (DISCA) – AT&T and Discovery announced a deal to combine Discovery with AT&T’s WarnerMedia unit. The combination would be co-owned by current shareholders of both companies, and would create a new stronger streaming video challenger to the likes of Netflix (NFLX) and Walt Disney (DIS). AT&T jumped 4.9% in the premarket and Discovery shares surged 17%.

Hostess Brands (TWNK) – The maker of Twinkies and other snacks reported quarterly profit of 20 cents per share, a penny a share above estimates. Revenue also topped Wall Street forecasts. Hostess said it continues to see elevated at-home consumption of its snacks, as well as increased “on-the-go” sales.

ViacomCBS (VIAC) – ViacomCBS resolved a dispute with former CEO Les Moonves, and will keep the $120 million in severance it had withheld after Moonves resigned amid accusations of sexual harassment which he has denied. Viacom shares rallied 3.8% in premarket trading.

At Home Group (HOME) – At Home Group’s largest shareholder said it will oppose the deal to sell the home furnishings retailer to private-equity firm Hellman & Friedman for $2.4 billion. CAS Investment Partners, which owns about 17% of At Home Group, made its objections in a letter to the company’s board of directors that was seen by The Wall Street Journal. CAS feels the bid “grossly undervalues” the company.

Marathon Petroleum (MPC) – Top Federal Trade Commission officials say Marathon Petroleum’s sale of Speedway gas stations to the parent of the 7-11 chain may be illegal on competitive grounds. The $21 billion deal closed on Friday, but the officials say they will continue to investigate. Separately, Marathon announced a modified Dutch auction tender offer for up to $4 billion of its common shares.

Tesla (TSLA) – Tesla CEO Elon Musk said the company has not sold any bitcoin after such speculation was fueled by Tesla’s decision to stop taking bitcoin for automobile purchases. Tesla fell 1.1% in premarket trading.

MicroStrategy (MSTR) – MicroStrategy tumbled 7% in premarket action amid a slide in the price of bitcoin to the lowest level in more than three months. The business analytics company holds roughly $5 billion worth of bitcoin. The cryptocurrency’s volatility is also impacting shares of Coinbase (COIN), the largest U.S. cryptocurrency exchange, which fell 3.5%.

Texas Roadhouse (TXRH) – The restaurant chain’s shares rose 1.4% in the premarket after Deutsche Bank upgraded the stock to “buy” from “hold.” Deutsche Bank said recent trends point to the possibility that current revenue assumptions may be conservative, and it also points to the recent pullback in the stock’s price.

Sanofi (SNY), GlaxoSmithKline (GSK) – Sanofi and Glaxo said their experimental Covid-19 vaccine showed strong results in an early-stage study, with 95% to 100% efficacy. The drug companies plan to begin a phase 3 trial within a few weeks.

Blackstone (BX) – Blackstone’s improved $6.5 billion bid for Crown Resorts was rejected by the Australian casino operator, which said the bid undervalued the company and was not in the best interests of shareholders.

Cummins (CMI) – The maker of engines and other power solutions saw its stock rise 1.4% in the premarket after Bank of America Securities upgraded it to “buy” from “neutral,” saying it sees continued outperformance ahead amid an upbeat market for farm machinery and equipment rental.

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