Check out some of the largest moving companies on the pre-market:
Peloton (PTON) – Peloton calls a new recommendation from the Consumer Product Safety Commission “inaccurate and misleading” and states that its treadmills are safe if safety recommendations are followed. The CPSC said consumers with young children or pets should stop using the treadmills after the investigation into the death of a child uncovered dozens of injury cases. The share fell 6.7% in premarket trading.
Coca-Cola (KO) – Coca-Cola posted quarterly earnings of 55 cents per share, beating estimates by 5 cents per share. Revenue was also above Wall Street forecasts, and operating margins improved year over year. The beat came despite continued sales pressure outside the home due to the pandemic.
GameStop (GME) – George Sherman, GameStop CEO, is stepping down effective July 31 or earlier if a successor has been found. The company announced in a filing with the Securities and Exchange Commission that it had evaluated management to ensure it would be suitable for a changing business landscape. Keith Gill, the man known as “Roaring Kitty,” exercised options to buy 50,000 more shares in the video game retailer at an exercise price of $ 12 per share, according to a Bloomberg report. Gill now holds 200,000 GameStop shares. GameStop rose 8.6% in premarket trading.
Harley-Davidson (HOG) – The motorcycle maker earned $ 1.68 per share in the most recent quarter, well above the consensus estimate of 88 cents per share. The sales largely corresponded to the forecasts. Harley also raised its full-year forecast for motorcycle sales and profit margins, saying actions to transform its business have had positive results. Separately, Harley said it would appeal a European Union decision that could result in a massive tariff hike on European sales. The shares gained 8.4% in the pre-market business.
Herman Miller (MLHR) – The office furniture manufacturer’s shares fell 12% in the pre-market after announcing a purchase agreement for furniture and accessories company Knoll (KNL) for $ 1.8 billion in cash and shares. The deal is valued at $ 25.06 per share, compared to Knoll’s closing price of $ 17.23 on Friday, and Knoll’s shares rose more than 28% in the pre-market.
M&T Bank (MTB) – The bank earned $ 3.41 per share last quarter, compared to a consensus estimate of $ 3 per share. Income also exceeded estimates. The bank noted improvements in residential mortgage and trust business, among other things, and the stock rose 1.4% in premarket trading.
Coinbase (COIN) – Coinbase declined 2% in the pre-market, with two notable deals affecting the stock on the news. According to her company’s daily trading recap, Cathie Wood’s ARK funds bought more shares on Friday, while filings for filings show that Coinbase CEO Brian Armstrong sold approximately $ 292 million worth of shares on Coinbase’s first day of trading .
Church & Dwight (CHD) – The consumer goods company fell 1.9% ahead of entry after Morgan Stanley downgraded it from “equilibrium” to “underweight”, with rising raw material costs being a key factor that could put earnings under pressure .
Tribune Publishing (TPCO) – Swiss billionaire Hansjorg Wyss has discontinued its offering for Tribune, according to the Wall Street Journal. Stewart Bainum, chairman of Choice Hotels, is looking for a new partner for his newspaper publisher offering when he tries to outbid the hedge fund Alden Capital for Tribune.
Tesla (TSLA) – Texas police officers investigating the fatal crash of a Tesla vehicle are almost certain that no one was behind the wheel at the time. It is still uncertain whether the car’s “autopilot” system was activated when the accident occurred on Saturday. Tesla fell 1.9% in the pre-market.
First Solar (FSLR) – The solar energy company gained 3.1% in premarket trading after switching from “neutral” to “buy” at Citi. The company points to “several positive catalysts,” including a possible 10 year extension of the federal solar tax credit.