Check out the companies that make headlines before the clock:
General Electric (GE) – GE has entered into an agreement to combine its aircraft rental unit, GE Capital Aviation Services, with Ireland’s AerCap (AER). It was reported earlier this week that the two parties were in talks. Separately, the board of directors of GE recommends a 1-for-8 share split to bring its outstanding share levels more in line with companies with comparable market capitalization. GE rose 2.2% ahead of market, while AerCap jumped 4.1%.
Eli Lilly (LLY) – The drugmaker said the combination of Covid-19 antibody therapy reduced the risk of hospitalization and death by 87% in a late-stage study. This was the second study of the therapy – the first had a higher dose of the drugs used and reduced hospitalization and death by 70%.
Campbell Soup (CPB) – The food manufacturer has matched the forecasts for adjusted earnings and revenue with the forecasts for analysts for the fiscal second quarter. Campbell predicts adjusted full-year earnings of $ 3.03 to $ 3.11 per share, compared to a consensus estimate of $ 3.05.
Express (EXPR) – The clothing retailer lost an adjusted 66 cents a share for its last quarter, less than the 83 percent loss analysts had expected. Revenue was higher than forecast, despite a larger-than-expected decline in sales at the same store, and the stock rose 30% in pre-market trading.
Roblox (RBLX) – Roblox is listed on the New York Stock Exchange today through a direct listing, after the exchange has a reference price of $ 45 per share for the share in the video game platform.
Coherent (COHR) – Coherent has announced a revised merger agreement with Lumentum (LITE) in which shareholders will receive $ 175 per share in cash and 1,0109 Lumentum shares for each share they now own. The revised bid for the manufacturer of lasers and laser technology came after opto-electronic component manufacturer II-VI (IIVI) submitted a bid for Coherent, which tops the original agreement Coherent signed with Lumentum in February. Coherent increase of 2.2% pre-market.
GameStop (GME) – GameStop rose 15.2% in pre-market trading, following a 5-day victory that more than doubled its shares. Other so-called ‘meme shares’ also rose ahead of the market, with AMC Entertainment (AMC) up 7.7% and Koss Corp (KOSS) up 11.2%.
Levi Strauss (LEVI) – Levi Strauss chairman Stephen Neal will step down on March 26 when he reaches the mandatory retirement age of 72 years. He will be replaced as chairman of the apparel manager by Robert Eckert, a current board member and former Mattel CEO. Levi Strauss shares fell 1% ahead of the market.
MongoDB (MDB) – MongoDB had a smaller-than-expected loss and better-than-expected revenue for its most recent quarter, although the database firm also forecast full-year results that did not have analysts’ forecasts. The stock gained 1.6% in action on the market.
Pfizer (PFE), BioNTech (BNTX) – The drug manufacturers have reached an agreement with the European Union to deliver 4 million additional doses of their Covid-19 vaccine to EU member states. The doses are delivered before the end of March. BioNTech shares added 2.1% in pre-market trading.
Toll Brothers (TOL) – Luxury homeowners’ shares rose 2% in market trading after announcing a 54% increase in its quarterly dividend to 17 cents a share from the previous 11 cents.
H&R Block (HRB) – H&R Block showed a wider quarterly loss and lower-than-expected revenue, citing a delay in the start of the tax filing season. However, the tax preparation company still expects to meet its full-year financial targets for the full year, and the stock has reached 1.2% pre-market.
Biohaven Pharmaceuticals (BHVN) – The FDA has published a letter to Biohaven stating that a video given directly to the consumer makes false or misleading allegations about Biohaven’s migraine treatment Nurtec ODT. The video features an interview with Khloe Kardashian, who identifies her as a paid Biohaven spokesperson.
Apple (AAPL) – According to the Japanese Nikkei news service, Apple has reduced production orders for the first half of this year by 20% for iPhone. The cuts are apparently concentrated in Apple’s iPhone 12 Mini model.
Conagra Brands (CAG) – Conagra is in talks to sell the Hebrew hot dog brand to the JBS in Brazil, according to people familiar with the Wall Street Journal. A deal could be valued at about $ 700 million.