Check out some of the largest moving companies on the pre-market:
Darden Restaurants (DRI) – The restaurant operator reported quarterly earnings of 74 cents per share, beating estimates by 3 cents per share. However, sales were below forecast as sales in the same restaurant fell 20.6% compared to a FactSet estimate of 18.3%. Darden also forecast a result that was below expectations for the current quarter and increased the quarterly dividend from 30 cents per share to 37 cents per share. The Olive Garden parent’s shares were down 1.4% in premarket trading.
BioTelemetry (BEAT) – Dutch medical technology company Philips (PHG) is buying BioTelemetry in the US for $ 72 per share in cash, or about $ 2.5 billion, a 16.5% premium over Thursday’s closing price. BioTelemetry specializes in remote monitoring and diagnostic technology. BioTelemetry’s shares rose more than 16% in the pre-market.
Winnebago (WGO) – The recreational vehicle maker earned $ 1.69 per share in the first quarter of fiscal year, well above the consensus estimate of 98 cents per share. Revenue also exceeded analysts’ forecasts, aided by strong consumer demand. Winnebago said the strong demand and interest in outdoor activities appears to intensify through 2021. Winnebago’s shares rose 5% in the pre-market.
FedEx (FDX) – FedEx reported quarterly earnings of $ 4.83 per share, 82 cents per share above consensus. Income also exceeded estimates. FedEx continues to benefit from a surge in e-commerce. However, the company has withheld forecasts for 2021, citing an uncertain economic environment. FedEx shares were down 3% in premarket trading.
Moderna (MRNA) – Moderna’s Covid-19 vaccine received a positive recommendation from a panel of the Food and Drug Administration set up late at night for possible approval for emergency use. Moderna’s shares fell 1% in the pre-market.
Pfizer (PFE) – Pfizer filed in Japan for approval of its Covid-19 vaccine, which is already in use in both the US and the UK
Johnson & Johnson (JNJ) – Johnson & Johnson said the first late-stage study for its Covid-19 vaccine candidate of 45,000 participants is now fully enrolled. J&J expects preliminary data on the single-dose vaccine by the end of January.
Tesla (TSLA) – Tesla stock trading is expected to spike today before the electric vehicle maker joins the S&P 500 on Monday.
BlackBerry (BB) – BlackBerry made 2 cents per share in the most recent quarter, compared to projections of a 1 cent per share loss. Despite weaker demand for BlackBerry cybersecurity and QNX auto software, revenue also beat Street’s forecasts. BlackBerry shares fell 2.4% in premarket trading.
Regeneron Pharmaceuticals (REGN) – Regeneron said its Covid-19 antibody cocktail was effective in reducing viral loads and reducing the need for doctor visits, according to a clinical study published in the New England Journal of Medicine. The company’s shares rose 2% in the pre-market.
PPG Industries (PPG) – The US-based paint and coatings maker is buying Finnish paint maker Tikkurila for around $ 1.35 billion, a premium of more than 66% over Tikkurila’s closing price on Thursday. PPG’s shares rose 1% in premarket trading.
US Steel (X) – US Steel expects a fourth quarter loss of 85 cents per share, up from the 57 cents loss anticipated by Wall Street analysts. However, the steelmaker said it sees “significantly improved” financial performance in 2021. US Steel stocks fell 2.9% in the pre-market.
Steelcase (SCS) – Steelcase reported quarterly earnings of 8 cents per share, beating the consensus estimate of 3 cents per share. However, the office furniture maker’s revenue was below street projections as demand for furniture and related products remains subdued due to the pandemic. Steelcase shares fell almost 7% in premarket trading.
Scholastic (SCHL) – Bildungsverlag reported quarterly earnings of $ 1.02 per share, missing the consensus estimate of $ 1.38 per share. Sales were well below forecasts. Scholastic declined to provide an outlook for 2021, citing uncertainty about the impact of Covid-19 on school teaching and timetables. The company’s shares fell 10% in the pre-market.
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