Take a look at some of the most important engines in the pre-market stage:
Peloton (PTON) – Peloton shares fell 25.8% premarket after the fitness equipment maker reported a larger-than-expected quarterly loss and projected revenue for the current quarter below estimates due to the decrease in demand.
Novavax (NVAX): Novavax sank 23% in premarket trading after the vaccine maker missed earnings estimates for its latest quarter. The lapse comes as Novavax shipped just 31 million doses of Covid-19 vaccines during the quarter, putting it off the pace of its projected 2 billion vaccines by 2022. However, Novavax reiterated its earlier revenue forecast. by 2022 and said he expected vaccine sales to accelerate. during the current quarter.
Vroom (VRM): Vroom surged 38% in premarket trading after the online used-vehicle seller posted a lower-than-expected quarterly loss and revenue that exceeded analyst estimates. Vroom also announced that chief operating officer Thomas Shortt would become chief executive, replacing Paul Hennessey, and unveiled a restructuring that will cut about 270 jobs.
Biohaven Pharmaceutical (BHVN): The migraine drug maker has agreed to be bought by Pfizer (PFE) in a deal worth $11.6 billion, resulting in a 72% pre-market rise in its stock. Biohaven shareholders will receive $148.50 per share in cash, plus half a share in a new publicly traded company that will have some of Biohaven’s drugs still in development. Pfizer, which held a 2.6% stake in Biohaven before the deal was announced, fell 1.4%.
Aramark (ARMK) – Shares of the foodservice company rose 2.3% premarket on news that it would spin off its uniform services unit into a separate company. Separately, Aramark reported quarterly earnings that matched estimates, with revenue above consensus.
Edgewell Personal Care (EPC): The maker of personal care products such as Schick razors and Edge shaving cream fell 6 cents a share below estimates, with quarterly earnings of 50 cents a share. Edgewell also raised its sales guidance for the year but lowered its earnings guidance as inflation pressures persist.
Norwegian Cruise Line (NCLH) – Norwegian shares rose 1.6% in premarket trading after it said bookings now exceeded pre-pandemic levels. Norwegian reported a quarterly loss of $1.82 per share, higher than the $1.53 loss expected by analysts.
Upstart (UPST): Upstart plunged 51.2% premarket despite better-than-expected quarterly results. The decline comes as the operator of the AI-powered lending platform lowered his outlook, saying the current macro environment is likely to have a negative impact on loan volume.
AMC Entertainment (AMC): AMC rebounded 6.8% premarket after reporting a lower-than-expected quarterly loss as well as revenue that beat analysts’ forecasts. AMC was helped by the release of popular big-budget movies like “The Batman,” and saw revenue per user rise above pre-pandemic levels.
Trex (TREX): Trex gained 3.3% in premarket action after the maker of exterior decking and railing materials reported better-than-expected quarterly results. Trex continues to benefit from high demand from consumers looking to renovate the outdoor spaces in their homes.
Reference-www.cnbc.com