Check out some of the largest moving companies on the pre-market:
Lands’ End (LE) – The clothing retailer reported quarterly earnings of 60 cents per share, beating the consensus estimate of 56 cents per share. Revenue also exceeded analysts’ forecasts. Lands’ End forecast an unexpectedly small loss for the current quarter and full year that is above consensus. Its shares rose 6.7% in premarket trading.
Lennar (LEN) – Lennar reported quarterly earnings of $ 2.04 per share, beating the consensus estimate of $ 1.71 per share. The builder’s income also exceeded estimates, aided by low interest rates and solid demand. The company said demand remains strong despite a recent hike in interest rates. Lennar gained 1% in the pre-market.
Coupa Software (COUP) – Coupa made 17 cents per share in the most recent quarter, compared to expectations of a loss of 11 cents per share. The financial management software provider’s revenue exceeded forecasts despite a difficult macroeconomic environment. The Coupa share gained 2% in premarket trading.
CrowdStrike (CRWD) – CrowdStrike beat estimates by 5 cents per share on quarterly earnings of 13 cents per share. Income was also above estimates. The security software company also issued an optimistic outlook. Its shares gained 4.9% in the pre-market business.
Uber Technologies (UBER) – Uber will grant its UK drivers employment status entitling them to vacation pay and pension contributions after the hail service loses its ultimate attraction to a driver classification case. Uber stocks fell 1.6% in premarket trading.
Plug Power (PLUG) – Plug Power stock fell 18.6% in the pre-market after it was announced that it would adjust its financial results for 2018 and 2019, as well as some recently filed quarterly filings. The fuel cell manufacturer said it had identified errors in accounting for a variety of tangible assets, but added that it had not identified any misconduct.
Coherent (COHR) – The laser maker said it had received a revised takeover bid from optical components maker Lumentum (LITE) for $ 6.9 billion in cash and shares. This is the eighth bid for Coherent in a takeover competition involving Lumentum, II-VI (IIVI) and MKS Instruments (MKSI). Coherent’s stock rose 3.7% in premarket trading.
Pinduoduo (PDD) – The China-based e-commerce company posted a 146% increase in quarterly revenue, beating analysts’ estimates. Pinduoduo also overtook Alibaba (BABA) as China’s largest e-commerce company with 788.4 million active users in 2020, up from Alibaba’s 779 million. In the news, the share initially rose in the pre-market, but then fell by 5.8%.
Baidu (BIDU) – Baidu will raise approximately $ 3.1 billion from the listing of the China-based Hong Kong internet search company, according to people with direct knowledge of the matter who spoke to Reuters. Previously, Baidu was expected to raise around $ 3 billion from the listing. The Baidu share fell 1.9% in the pre-market.
Micron Technology (MU) – Micron plans to sell a chip factory in Utah that will manufacture a type of memory chip called 3D Xpoint, which the company developed with Intel (INTC) in 2012. Due to the low demand from customers, it is planned to leave the 3D Xpoint market.
Catalent (CTLT) – Catalent plans to significantly expand Covid-19 vaccine production in Europe, according to people familiar with the matter who spoke to the Wall Street Journal. The contract drug maker will double production of Johnson & Johnson’s (JNJ) vaccine by commissioning a new production line at an Italian facility in the fourth quarter.
FirstEnergy (FE) – First Energy confirmed the utility had signed a deal with activist Carl Icahn that gave him two seats on the board and prevented a possible proxy fight. The agreement was previously reported by the Wall Street Journal. FirstEnergy rose by 1.4% in premarket trading.