Check out some of the biggest movers in the premarket:
Lands’ End (LE) – The apparel retailer reported quarterly earnings of 60 cents a share, above 56 cents according to a consensus estimate of the stock. Sales also exceeded analyst forecasts. Lands’ End is forecasting a loss smaller than expected for the current quarter and full-year earnings that are ahead of consensus. Its shares were up 6.7% in premarket trading.
Lennar (LEN) – Lennar reported quarterly earnings of $ 2.04 per share, beating the consensus estimate of $ 1.71 per share. Home builder sales also exceeded 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 premarket.
Coupa Software (COUP) – Coupa earned 17 cents per share for the last quarter, compared to an expectation of a loss of 11 cents per share. The financial management software vendor’s revenues exceeded expectations, despite what the company calls a difficult macroeconomic environment. Coupa shares were up 2% in premarket trading.
CrowdStrike (CRWD) – CrowdStrike beat estimates by 5 cents a share, with quarterly profit of 13 cents a share. Sales were also above estimates. The security software company also gave a positive outlook. Its shares gained 4.9% in premarket action.
Uber Technologies (UBER) – Uber will grant its UK drivers an employment status entitling them to holiday pay and pension contributions after the ride service loses its last appeal in a driver classification case. Uber shares were down 1.6% in premarket trading.
Plug Power (PLUG) – Plug Power shares were down 18.6% in the premarket after it said it will restate its 2018 and 2019 financial results, as well as some recent quarterly returns. The fuel cell manufacturer said it had discovered flaws in the way it accounted for a variety of non-cash items, but added that it found no wrongdoing.
Coherent (COHR) – The laser maker said it had received a revised takeover bid from optical component manufacturer Lumentum (LITE) for $ 6.9 billion in cash and stock. This is the eighth offer for Coherent in a takeover competition between Lumentum, II-VI (IIVI) and MKS Instruments (MKSI). Shares of Coherent were up 3.7% in premarket trading.
Pinduoduo (PDD) – The China-based e-commerce company reported a 146% increase in quarterly revenue that exceeded analyst estimates. Pinduoduo also overtook Alibaba (BABA) as China’s largest e-commerce company, with 788.4 million active users in 2020 compared to Alibaba’s 779 million. Stock initially rose in the premarket on the news, but then declined 5.8%.
Baidu (BIDU) – According to people with direct knowledge of the case who spoke with Reuters, Baidu is going to raise about $ 3.1 billion from the Chinese internet search company’s listing in Hong Kong. Baidu was previously expected to pull out about $ 3 billion from the listing. Baidu shares fell 1.9% in the premarket.
Micron Technology (MU) – Micron plans to sell a chip factory in Utah that made a type of memory chip called 3D Xpoint, which it co-developed with Intel (INTC) in 2012. customers.
Catalent (CTLT) – Catalent is planning a major expansion of Covid-19 vaccine production in Europe, according to people familiar with the issue and speaking to The Wall Street Journal. The contract drug maker will double production of the Johnson & Johnson (JNJ) vaccine by starting a new production line at an Italian facility in the fourth quarter.
FirstEnergy (FE) – First Energy confirmed that the utility had struck a deal with activist investor Carl Icahn, giving him two seats on the board and avoiding a potential proxy fight. The agreement had previously been reported by The Wall Street Journal. FirstEnergy rose 1.4% in premarket trading.