EARLY MOVERS: Sears sinks like a stone ahead of potential bankrupcty filing, while Hurricane Michael whirls into view

Also in the frame in pre-market deals is Chinese tech titan Alibaba and Amerco's U-Haul

Sears, 125 years old, and one of the biggest names in US retail

US futures are set for a higher open mid-week and following suit is Akorn Inc (NASDAQ:AKRX), whose shares surged almost 9% in pre-market trade to $7.03.

The generic drugs maker  today announced that it had received new "abbreviated new drug application" (ANDA) approval from the all-powerful U.S. Food and Drug Administration (FDA) for Bimatoprost Ophthalmic Solution.

The product is manufactured at Akorn’s Amityville, New York manufacturing facility.

Despite recent gains in the company;'s shares, the stock has tumbled 80% in the year to date.

Elsewhere, e-commerce titan Alibaba (NASDAQ:BABA) shares eased 0.11% to $146.78, having lost 2.80% yesterday.

The Chinese firm, listed on the NYSE,  has seen a significant drop in its share price in recent months - around 30%.

It was not aided today as KeyBanc Capital cut its price target on the stock to $215 from $220, citing lower expectations for core commerce.

In other pre-market news, Sears Holdings (NASDAQ:SHLD), the famous American retail chain, saw shares tank over 31% in  pore-market deals to $0.40 as it is heading towards bankruptcy.

According to the Wall Street Journal, the firm is readying a bankruptcy filing that could come as soon as this week.

PPG Industries Inc (NYSE:PPG) saw shares nudge up over 3% to $101.63 after hours in New York following a report that Nelson Peltz's Trian Fund Management had taken a 2.9% stake in the company worth $690 million.

But shares in the Fortune 500 firm yesterday closed down over 10% after it issued a warning to investors that its upcoming quarterly earnings numbers would take a hit due to softening demand and rising materials costs.

Hurricane Michael is also very much making its presence felt as it heads towards Florida.

Experts have strengthened it into a Category 4 storm early Wednesday, with maximum sustained winds of 130 mph (miles per hour).

U-Haul is the top trending name on Google business and one of a few firms taking a social-conscience stance on the event.

The subsidiary of Amerco (NASDAQ:UHAL) is offering consumers 30 days of free self-storage and U-Box container usage at 28 facilities in Florida, the Carolinas, Georgia and Alabama.

UHAL shares lost 0.84% to $346.04 yesterday.

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