Take a look at some of the biggest movers in the premarket:
Oracle (ORCL) – Oracle earned $ 1.54 per share in the most recent quarter, beating the consensus estimate of $ 1.31 per share. The company’s business software sales also exceeded estimates. However, the company is forecasting sub-consensus earnings for the current quarter as it increases investments in its cloud computing operations. The share lost 4.7% in pre-trading.
Roblox (RBLX) – Roblox fell 7.7% in the premarket after reporting 43 million daily active users in May, 28% more than last year but less than 43.3 million in April. The spending of the users of the video game platform decreased slightly compared to the previous year.
Kindred Biosciences (KIN) – The animal therapeutic has agreed to be acquired by Elanco Animal Health (ELAN) for $ 9.25 per share, or $ 440 million. Kindred closed at $ 6.34 on Tuesday and the stock rose 44.6% pre-IPO.
La-Z-Boy (LZB) – La-Z-Boy reported quarterly earnings of 87 cents per share, compared to a consensus estimate of 74 cents per share. Best known for its recliners, the company also had better-than-expected sales. La-Z-Boy said it has been hit by supply chain issues and significant increases in commodity prices. The share lost 2.3% in the premarket.
H&R Block (HRB) – H&R Block beat Street’s forecasts for both profit and revenue last quarter, and the tax consultancy firm also increased its quarterly dividend 4% to 27 cents per share. In addition, H&R Block is postponing the end of the financial year from April 30th to June 30th in order to better record the tax return activities. The H&R Block share lost 1.1% before the market launch.
EBay (EBAY) – The online marketplace operator will sell its South Korean unit to retailer Shinsegae’s E-Mart unit and website operator Naver for approximately $ 3.6 billion, according to local media reports. E-Mart confirmed the talks but said no deal had been struck.
General Motors (GM) – According to reports, GM plans to increase global spending on electric and autonomous vehicles by 30% from its latest forecast by 2025 to a total of $ 35 billion. People informed of the plans told Reuters that it was spending two additional US battery systems.
Johnson & Johnson (JNJ) – The Food and Drug Administration approved an additional 15 million doses of J & J’s Covid-19 vaccine, made at a Baltimore facility operated by Emergent Biosolutions (EBS). That brings the total number of cans deleted to 25 million. Previously, the FDA had rejected 60 million doses made at that facility, stating that Emergent had not taken reasonable precautions to prevent cross-contamination with another production line that makes AstraZeneca’s (AZN) Covid vaccine.
Southwest Airlines (LUV) – Southwest suffered a second computer glitch in 24 hours on Tuesday, where a system failure resulted in the cancellation of about 500 flights and the delay of many other flights.
Dish Network (DISH) – The satellite TV company switched to “Buy” from “Hold” at Pivotal Research, citing the potential for Dish’s 5G wireless network. Dish rose 1.7% in the premarket.
Apollo Global (APO) – Apollo sold textbook and educational technology company McGraw Hill to private equity firm Platinum Equity for $ 4.5 billion.
Regeneron (REGN) – The drug manufacturer’s Covid-19 antibody cocktail reduced deaths in patients who were unable to develop their own antibody response, according to a newly published British study.
SoFi Technologies (SOFI) – The financial services platform was rated “Buy” in the new coverage at Rosenblatt Securities, which indicated the “strong” cost advantage of SoFi over old banks. The SoFi share gained 2.1% in the premarket.