Check out some of the biggest drivers in the front market:
Lands’ End (LE) – The clothing retailer posted quarterly earnings of 60 cents per share, above the 56 cents per consensus estimate. The income was also better than the forecasts of analysts. Lands’ End predicts a smaller-than-expected loss for the current quarter and full-year earnings that exceed consensus. Its shares rose 6.7% in pre-trading.
Lennar (LEN) – Lennar posted quarterly earnings of $ 2.04 per share, beating the consensus estimate of $ 1.71 per share. The home builder’s income also beats estimates, aided by low interest rates and solid demand. The company said demand remains strong despite a recent rise in rates. Lennar added 1% in the pre-market.
Coupa Software (COUP) – Coupa earned 17 cents per share for its last quarter, compared to expectations of a loss of 11 cents per share. The income of the financial management software provider came above the forecasts, despite what the company calls a difficult macroeconomic environment. Coupa shares rose 2% in market trading.
CrowdStrike (CRWD) – CrowdStrike beat estimates at 5 cents a share, with quarterly earnings of 13 cents a share. The revenue was also estimated above. The security software company also gave a positive outlook. Its shares rose 4.9% in the action before the market.
Uber Technologies (UBER) – Uber will give its drivers a job status in the UK that qualifies them for holiday pay and pension contributions, after the driving service lost its last appeal on a matter concerning the classification of drivers. Uber shares fell 1.6% in the pre-sale.
Plug Power (PLUG) – Plug Power shares fell 18.6% in the futures market after saying it would recharge its 2018 and 2019 financial results, as well as some recent quarterly submissions. The fuel cell manufacturer said it was detecting errors in the way it was responsible for a variety of non-cash items, but added that it found no misconduct.
Coherent (COHR) – The laser manufacturer said it had received a revised $ 6.9 billion in cash and inventory from Lumentum (LITE). This is the eighth bid for Coherent in a takeover contest involving Lumentum, II-VI (IIVI) and MKS Instruments (MKSI). Coherent’s share jumped 3.7% in the pre-trade.
Pinduoduo (PDD) – The China-based e-commerce company reported a 146% rise in quarterly revenue, beating analysts’ estimates. Pinduoduo also surpassed Alibaba (BABA) as China’s largest e-commerce company, with 788.4 million active users in 2020 compared to Alibaba’s 779 million. Its share initially rose in the news market, but then fell by 5.8%.
Baidu (BIDU) – According to people with direct knowledge of the matter who spoke to Reuters, Baidu will raise about $ 3.1 billion from the China-based internet search company in Hong Kong. Earlier, Baidu was expected to raise about $ 3 billion from the listing. Baidu shares fell 1.9% in the futures market.
Micron Technology (MU) – Micron plans to sell a Utah chip factory that manufactures a type of memory chip called 3D Xpoint, which it developed in 2012 with Intel (INTC). He plans to leave the 3D Xpoint market due to the low demand customers.
Catalent (CTLT) – Catalent is planning a major expansion of Covid-19 vaccine production in Europe, according to people familiar with the matter who spoke to The Wall Street Journal. The contractor manufacturer will double the production of Johnson & Johnson (JNJ)’s vaccine by starting a new production line at an Italian plant during the fourth quarter.
FirstEnergy (FE) – First Energy has confirmed that the utility has entered into an agreement with activist investor Carl Icahn, which has given him two seats on the board and avoided a possible proxy. The deal was reported earlier by The Wall Street Journal. FirstEnergy rose 1.4% in pre-trading.