GE, Eli Lilly, Campbell Soup and others

Check out the companies that are making the headlines before the bell:

General Electric (GE) – GE has reached an agreement to combine its aircraft leasing unit GE Capital Aviation Services with Irish AerCap (VRE). Earlier this week it was reported that both sides were in talks. Regardless, GE’s board of directors recommends an 8-for-one stock split to better align the outstanding shares with companies with comparable market capitalization. GE was up 2.2% before entering the market while AerCap was up 4.1%.

Eli Lilly (LLY) – The drug maker said its combined Covid-19 antibody therapy reduced the risk of hospitalizations and death by 87% in a late-term study. It was the second study of the therapy – the first had used a higher dose of the medication and reduced hospital stay and death by 70%.

Campbell Soup (CPB) – The food maker saw that both adjusted earnings and sales were in line with analysts’ forecast for the second quarter of the fiscal year. Campbell forecasts adjusted earnings of $ 3.03 to $ 3.11 per share for the full year, compared to a consensus estimate of $ 3.05.

Express (EXPR) – The clothing retailer lost an adjusted 66 cents per share last quarter, less than analysts’ forecast loss of 83 cents. Sales were higher than forecast despite a more than expected drop in sales in the same store, and the stock rose 30% in pre-market trading.

Roblox (RBLX) – Roblox is listed on the New York Stock Exchange via direct listing today after the exchange set a reference price of $ 45 per share for the video game platform company’s stock.

Coherent (COHR) – Coherent announced a revised merger agreement with Lumentum (LITE) that will give shareholders $ 175 per share in cash and 1.0109 shares of Lumentum for each share they now hold. The revised offer for the laser and laser technology maker came after the optoelectronic components maker II-VI (IIVI) submitted an offer for Coherent that exceeded the original agreement Coherent made with Lumentum in February. Coherent ahead of the market rose 2.2%.

GameStop (GME) – GameStop gained another 15.2% in pre-market trading after a 5-day winning streak that more than doubled its shares. Other so-called “meme stocks” also rose prior to entry, with AMC Entertainment (AMC) up 7.7% and Koss Corp. (KOSS) increased by 11.2%.

Levi Strauss (LEVI) – Stephen Neal, Chairman of Levi Strauss, will step down on March 26, once the mandatory retirement age of 72 is reached. He is replaced by Robert Eckert, a current board member and former Mattel, as chairman of the apparel company’s board of directors. CHAIRMAN. Levi Strauss shares fell 1% ahead of the IPO.

MongoDB (MDB) – MongoDB posted lower-than-expected loss and better-than-expected revenue for the final quarter, although the database company also forecast full-year results that fell short of analysts’ forecasts. The share gained 1.6% before the IPO.

Pfizer (PFE), BioNTech (BNTX) – The drug manufacturers have reached an agreement with the European Union to deliver 4 million additional doses of their Covid-19 vaccine to EU member states. The cans will be delivered before the end of March. The BioNTech share gained 2.1% in premarket trading.

Toll Brothers (TOL) – The luxury real estate builder’s shares rose 2% in premarket trading after announcing a 54% increase in its quarterly dividend from 11 cents a share previously.

H&R Block (HRB) – H&R Block posted a larger quarterly loss and lower than expected revenue due to a delay in the start of the tax return season. However, the tax preparation firm still believes it will meet its financial targets for the full year, and the stock was up 1.2% ahead of the IPO.

Biohaven Pharmaceuticals (BHVN) – The FDA released a letter to Biohaven stating that a direct-to-consumer video makes false or misleading statements about Biohaven’s Nurtec ODT migraine treatment. The video shows an interview with Khloe Kardashian in which she is identified as a paid Biohaven spokeswoman.

Apple (AAPL) – According to Japanese news service Nikkei, Apple cut iPhone production orders by 20% for the first half of this year. The cuts should focus on Apple’s iPhone 12 mini model.

Conagra Brands (CAG) – Conagra is in talks to sell the Hebrew National hot dog brand to Brazil’s JBS, according to people familiar with the matter who spoke to the Wall Street Journal. A deal could be worth around $ 700 million.

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