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Check out the companies making the biggest moves before the bell:Bank of America — Bank of America added 0.4% in the premarket after beating top and bottom line estimates for the second quarter. Bank of N.Y. Mellon — The bank reported better-than-expected profit and revenue for the second quarter. However, the stock fell more than 1%PNC Financial — PNC shares fell 2.7% in the premarket after posting lower-than-expected quarterly revenue, even as earnings beat forecasts. Novartis — Novartis jumped 2.9% in premarket action after the drug maker raised its full-year outlook on strong pharmaceutical sales. Norwegian Cruise Line — The cruise line operator's stock slid 1.8% in premarket action after Truist downgraded the stock to a hold from a buy.
Persons: Masimo — Masimo, Pinterest — Pinterest, Evercore, Truist Organizations: of America — Bank of America, Bank, N.Y, Mellon, PNC Financial, PNC, Verizon, Novartis, Sandoz, Evercore ISI, Norwegian Cruise Locations: San Francisco ., BofA, Norwegian
Check out the companies making the biggest moves premarket:Cigna — Cigna gained 3% in premarket trading after beating top- and bottom-line estimates for its latest quarter and raising its full-year forecast. Apple — Apple rose 2.7% in premarket trading after beating quarterly earnings and revenue estimates, with particularly upbeat results for its flagship iPhone. Bumble — Bumble posted higher than expected quarterly sales, as user demand for its dating app remained strong. Expedia did see its highest-ever first quarter revenue, in addition to a 20% leap in gross bookings. Coinbase — Coinbase posted better than expected quarterly results, leading to a 8.1% premarket rally for the cryptocurrency exchange's stock.
Check out the companies making headlines in premarket trading. PacWest Bancorp – PacWest tumbled 37% in premarket trading after the banking company said it was considering various strategic options. Shopify – The e-commerce platform reported-better-than expected quarterly results and also announced the sale of parts of its fulfillment operation as well as its logistics division. Qualcomm – Qualcomm slumped 7.7% in premarket trading after the chipmaker issued a weaker than expected current quarter forecast, hurt by sagging smartphone sales. Qualcomm did report better than expected revenue for its latest quarter, with earnings matching Wall Street estimates.
Shaw surged 10.1% in the premarket, while Rogers gained 0.4%. Li Auto (LI) – Li Auto said it expected to deliver more than 20,000 of its electric vehicles this month, higher than the 14,087 the China-based EV maker delivered in December 2021. Tesla (TSLA) – Tesla is down 1% in the premarket after posting its first back-to-back gains since November 22 to 23. Mesa Air Group (MESA) – The regional air carrier reported a bigger-than-expected quarterly loss and revenue that fell short of analyst estimates. Mesa shares fell 3% in premarket trading.
Cal-Maine Foods (CALM) – Cal-Maine slid 4.9% in premarket trading after its quarterly earnings came in below Wall Street forecasts. General Electric (GE) – GE spin-off GE HealthCare Technologies will join the S&P 500 when it begins trading as a separate public company on Jan. 4. Vornado will replace logistics company RXO (RXO), which will move to the S&P SmallCap 600. GE HealthCare — trading on a when-issued basis — rose 1% in the premarket, while Vornado was marginally lower and RXO jumped 3.3%. Apple (AAPL) – Apple is up 1% in premarket trading after closing Wednesday at a 1-1/2 year low.
Baird reduced its price target on Tesla to $252 per share from $316, but continues to rate the stock outperform. AMC Entertainment (AMC) – AMC Entertainment rose 1.2% in premarket trading after CEO Adam Aron asked the movie theater chain's board to freeze his salary. Southwest Airlines (LUV) – Southwest Airlines fell 1.3% in premarket action as it continues to cancel flights in its struggle to return to a normal schedule. Apple (AAPL) – Apple is marginally higher in the premarket following its Tuesday close, which was the lowest since June 2021. It rebounded by 1.1% in premarket trading.
Southwest Airlines (LUV) – Southwest slid 4.1% in the premarket following thousands of flight cancellations over the holiday weekend, a higher amount than experienced by other major airlines amid winter storm issues. United Airlines (UAL), American Airlines (AAL), Delta (DAL) and JetBlue (JBLU) all rose in premarket action. Tesla (TSLA) – Tesla fell 5.3% in premarket trading, after falling for six consecutive trading days and nine of the past ten. Peloton (PTON) – Peloton is selling refurbished bikes at discounts of up to $500 compared with new ones. Peloton rose 1% in the premarket.
Check out the companies making headlines before the bell:Tesla (TSLA) – Tesla CEO Elon Musk said he would refrain from selling any more Tesla stock for 18 to 24 months. Tesla gained 1.2% in the premarket. Nutanix (NTNX) – Nutanix tumbled 16.6% in the premarket following a report that Hewlett Packard Enterprise (HPE) has ended talks to acquire the cloud computing company. Meta Platforms (META) – Meta and users of its Facebook platform settled a privacy class action lawsuit, with Meta agreeing to pay $725 million. Oilfield services stocks – Halliburton (HAL) gained 1.4% in the premarket, with Schlumberger (SLB) up 1.3% and Baker Hughes (BKR) rising 1%.
Check out the companies making headlines before the bell:CarMax (KMX) – The auto retailer's stock slumped 12.7% in the premarket after its quarterly profit and revenue fell well short of estimates. Micron Technology (MU) – Micron shares fell 2.9% in premarket trading after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. Tyson fell 1% in premarket action. Global Business Travel Group (GBTG) – The American Express spin-off was rated outperform in new coverage at Evercore ISI, which expects the business travel platform to benefit from its leading position in the industry and from a rebound in business travel recovery. Global Business Travel Group rose 1.6% in premarket trading.
Check out the companies making headlines before the bell:Rite Aid (RAD) – Rite Aid jumped 8.4% in the premarket after reporting a smaller-than-expected loss and revenue that beat Wall Street forecasts, helped by accelerated sales growth at its retail operations. Nike (NKE) – Nike surged 11.6% in the premarket after the athletic footwear and apparel maker reported better-than-expected quarterly results and raised its revenue forecast. FedEx (FDX) – FedEx rallied 4.5% in premarket trading following its quarterly results, which saw profit beat consensus but sales fell short of analyst estimates. BlackBerry (BB) – BlackBerry gained 1% in premarket trading after its quarterly revenue beat estimates on strong demand for the company's automotive and security software. BlackBerry also reported a smaller-than-expected quarterly loss.
Lucid (LCID) – Lucid rallied 5.% in premarket trading after the electric vehicle maker raised more than $1.5 billion in a series of stock sales. Rocket Lab (RKLB) – Rocket Lab fell 1.3% in premarket action after announcing a delay in its first rocket launch from the United States. Rocket Lab cited both poor weather conditions as well as regulatory delays stemming from the processing of documentation by NASA and the Federal Aviation Administration. As a result, Rocket Lab cut its revenue forecast for the fourth quarter. BMO expects positive announcements from Beam's partner Verve Therapeutics (VERV) to help drive the stock higher.
Aerojet Rocketdyne rose 2% in the premarket, while L3Harris fell 1.7%. Meta fell 1.4% in premarket action. Warner Music Group (WMG) – Warner Music shares rallied 3% in the premarket after Atlantic Equities upgraded the stock to overweight from neutral. The firm said Warner Music has shown that it can continue to deliver growth in streaming despite a difficult economic backdrop. Moderna (MRNA) – The vaccine maker jumped 3.8% in premarket trading after Jefferies upgraded the stock to buy from hold, noting a robust pipeline beyond Covid treatments.
Accenture issued a revenue range for the current quarter whose midpoint is below current consensus and said the stronger U.S. dollar will impact its fiscal 2023 results by 5%. Maxar Technologies (MAXR) – The satellite owner and operator's shares more than doubled in the premarket after it agreed to be acquired by private equity firm Advent International for $53 per share. Guardant Health (GH) – Guardant shares plunged 33.4% in the premarket following trial results for its DNA blood test for colorectal cancers. Adobe also issued upbeat current quarter guidance. U.S. Steel (X) – U.S. Steel issued better-than-expected current quarter guidance and said commercial demand for steel is on the upswing in the U.S.
Check out the companies making headlines before the bell:Tesla (TSLA) – Tesla fell 1.2% in premarket trading after an SEC filing showed that Elon Musk sold another $3.6 billion in shares. Novavax (NVAX) – Novavax tumbled 9.2% in premarket trading after the drug maker announced a $125 million common stock offering and a $125 million offering of convertible debt. AT&T fell 1.4% in premarket trading. Snap (SNAP) – The social media company's stock was downgraded to hold from buy at Jefferies, which said Snap is facing intense competition and a worsening macroeconomic picture. Snap lost 2.1% in premarket trading.
Tesla (TSLA) – Goldman Sachs cut its price target for Tesla to $235 per share from $305, citing softer demand. Tesla shares are down about 40% since the end of September, and briefly dipped below $500 billion in market value Tuesday. Moderna (MRNA) – Moderna rose another 1.6% in premarket trading on top of yesterday's 19.6% gain. Aspen Group (ASPU) – Aspen Group rallied 14.8% in premarket action after the online education company reported better-than-expected quarterly revenue and improved profit margins. The firm said Paccar is among the industrial stocks poised to benefit from a sector recovery.
Boeing (BA) – Boeing rose 2.2% in premarket action after United Airlines (UAL) announced a 200-jet order that includes 100 787 Dreamliners and 100 737 Max jets, with options for further purchases. Moderna (MRNA) – The drugmaker announced that its experimental melanoma vaccine combined with Merck (MRK) cancer treatment Keytruda cut the risk of skin cancer recurrence by 44% compared with a treatment of only Keytruda. First Solar (FSLR) – First Solar rose 1.1% in premarket trading following news that it will replace Fortune Brands Home & Security (FBHS) in the S&P 500. Mirati Therapeutics (MRTX) – Mirati Therapeutics surged 8.6% in premarket trading after the drugmaker's new lung cancer treatment adagrasib received Food and Drug Administration approval. Fiverr (FVR) – Fiverr added 1.1% in premarket trading after Citi initiated coverage of the stock with a "buy" rating.
Coupa Software (COUP) – Private-equity firm Thoma Bravo agreed to buy Coupa, a specialist in business spending management software. Accenture (ACN) – Accenture fell 1.7% in the premarket after Piper Sandler downgraded the consulting firm's stock to "underweight" from "neutral." Best Buy (BBY) – The electronics retailer's stock added 1.6% in the premarket after Goldman Sachs upgraded it to "neutral" from "sell." Gap (GPS), Tapestry (TPR), Levi Strauss (LEVI) – Goldman Sachs upgraded Gap and Tapestry to "buy" from "neutral" while downgraded Levi Strauss to "neutral" from "buy." Gap added 2.7% in the premarket, with Tapestry up 2% and Levi Strauss losing 1.2%.
Broadcom (AVGO) – Broadcom shares rallied 3.6% in premarket action after the chip maker reported better-than-expected quarterly results and an upbeat outlook. Netflix (NFLX) – Netflix gained 3% in the premarket following two positive analyst reports. DocuSign (DOCU) – DocuSign posted an 11.3% premarket jump following upbeat quarterly results for the electronic signature technology company. The move cuts Walgreens' stake to about 17% from 20% and will give Walgreens funds to pay down debt and fund strategic priorities. RH (RH) – The company formerly known as Restoration Hardware beat top and bottom line estimates in its latest quarterly report.
Ciena earned an adjusted 61 cents per share for its latest quarter, compared with a consensus estimate of 8 cents. GameStop (GME) – GameStop reported a wider-than-expected quarterly loss and sales that fell short of predictions. Rent The Runway (RENT) – Rent The Runway surged 16.9% in the premarket after its quarterly revenue came in well above Wall Street forecasts and the fashion rental company issued an upbeat sales forecast. Kinder Morgan shares gained 2.1% in premarket trading. Separately, Express announced a wider-than-expected quarterly loss and lower-than-expected revenue in what its management said was a tougher quarter than it had anticipated.
Check out the companies making headlines before the bell:Campbell Soup (CPB) – Campbell Soup beat estimates by 14 cents with adjusted quarterly earnings of $1.02 per share. Pinterest (PINS) – Pinterest rose 1.2% in premarket trading after an official from activist investor Elliott Management was added to the image-sharing website operator's board of directors. Carvana tumbled 18.2% in premarket trading. Dave & Buster's (PLAY) – Dave & Buster's shares slid 3.9% in premarket action even though its quarterly profit matched analyst estimates. Airbnb (ABNB) – Airbnb fell 3.8% in premarket trading after Morgan Stanley downgraded the stock to underweight from equal-weight.
GitLab (GTLB) – GitLab shares surged 18.7% in the premarket following better-than-expected quarterly results for the maker of development operations software, with a smaller loss than analysts had anticipated and sales that exceeded consensus estimates. Textron (TXT) – Textron rallied 9.6% in the premarket after the company's Bell unit won a U.S. Army contract to provide next-generation helicopters. Signet Jewelers (SIG) – The jewelry retailer reported quarterly profit of 74 cents per share, well above the 31 cents a share consensus estimate. Revenue beat consensus estimates as well. The stock surged 8.1% in premarket action.
Zscaler (ZS) – The cloud security company reported a better than expected quarter, but its stock slumped 9.1% in premarket trading following conservative guidance. Horizon shares had soared 27.3% last Friday on news that it was in talks with several potential takeover partners. DoorDash (DASH) – DoorDash shares fell 2.8% in premarket trading after RBC Capital Markets downgraded the stock to "sector perform" from "outperform." Rigel Pharma (RIGL) – Rigel's stock soared 34% in the premarket after the FDA approved its drug to treat a certain type of leukemia. PagerDuty (PD) – The cloud computing company's stock jumped 6.6% in premarket trading after it reported an unexpected quarterly profit.
Dollar General (DG) – Dollar General slumped 6.1% in premarket trading after the discount retailer cut its annual forecast due to higher costs. Lands' End (LE) – The apparel retailer reported an unexpected quarterly loss. Salesforce (CRM) – Salesforce fell 7.4% in the premarket after the business software company announced that co-CEO Bret Taylor would be stepping down January 31, leaving Chairman Marc Benioff as the sole CEO. Five Below (FIVE) – Five Below rallied 9.3% in premarket trading in the wake of better than expected quarterly results. Splunk (SPLK) – Splunk staged an 8.1% premarket rally after the data management software company reported upbeat quarterly results and boosted its full-year forecast.
Earnings beat estimates, but sales came up short of Wall Street forecasts. Petco (WOOF) – Petco's adjusted quarterly earnings of 16 cents per share matched Street forecasts, but revenue was slightly above estimates. CrowdStrike (CRWD) – CrowdStrike plunged 17.6% in the premarket after the cybersecurity company's subscription numbers came in below analyst forecasts. NetApp (NTAP) – NetApp tumbled 10.9% in the premarket on a weaker than expected forecast from the cloud computing company, which reported better than expected quarterly earnings. Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise added 1.9% in the premarket after the enterprise computing company reported record quarterly sales and issued strong revenue guidance.
Silvergate Capital (SI) – The digital assets bank's shares fell another 2.4% in the premarket, extending yesterday's 11.1% loss. Chemours (CC) – Chemours tumbled 6.1% in premarket trading after the chemical maker said its full-year earnings were tracking slightly below the low end of its prior guidance range. United Parcel Service (UPS) – UPS gained 1.4% in the premarket after Deutsche Bank upgraded the delivery service's stock to "buy" from "hold." HSBC (HSBC) – HSBC struck a deal to sell its Canadian unit to the Royal Bank of Canada for $10.1 billion in cash. Roku (ROKU) – Roku shares fell 2.9% in premarket action after KeyBanc downgraded the video streaming device company's stock to "sector weight" from "overweight," saying several facets of its bullish thesis on Roku failed to play out.
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