Products You May Like
Take a look at some of the biggest movers in the premarket:
Abiomed (ABMD) – Abiomed stock soared 51.6% in premarket trading after agreeing to be acquired by Johnson & Johnson (JNJ) in a nearly $16.6 billion deal. J&J will pay $380 per share for the maker of heart, lung and kidney treatments, and will add a contingent value right worth up to $35 per share if certain milestones are achieved. J&J shares fell 0.7%.
Uber Technologies (UBER) – Uber rallied 8.8% in the premarket after it reported better-than-expected quarterly revenue as gross bookings surged compared to a year ago. Uber did report a quarterly loss, but that was largely due to unrealized losses on equity investments such as its stake in Didi Global.
SoFi Technologies (SOFI) – SoFi surged 14.3% in premarket trading, following a smaller-than-expected quarterly loss and revenue that exceeded analysts’ forecasts. The fintech company also lifted its outlook after adding nearly 424,000 new members during the quarter, bringing its total to more than 4.7 million.
Pfizer (PFE) – Pfizer jumped 4% in premarket trading following a better-than-expected quarter and an improved financial outlook. Strong demand for Pfizer’s older drugs helped offset a drop in sales of its Covid-19-related products.
Goodyear Tire (GT) – Goodyear tumbled 8.3% in the premarket following a third-quarter earnings miss. The tire maker said its results were impacted by higher costs and a stronger U.S. dollar, although that was partially offset by higher prices.
Eli Lilly (LLY) – Eli Lilly beat top and bottom line estimates for its latest quarter, but the drugmaker’s stock fell 2.2% in the premarket as it cut its full-year forecast. Lilly is seeing a negative impact from a stronger dollar, increased cancer drug competition and lower insulin prices.
Hologic (HOLX) – Hologic rallied 7.6% in the premarket after the medical equipment maker reported better-than-expected quarterly profit and issued an upbeat outlook. Hologic said it saw “unprecedented strength” across its core businesses.
Stryker (SYK) – Stryker lost 4.9% in premarket action after the surgical equipment and medical device maker cut its financial outlook, citing the impact of inflation and a stronger U.S. dollar.
Avis Budget (CAR) – Avis Budget shares gained 3.7% in the premarket following better-than-expected quarterly earnings from the rental car giant amid continued strong travel demand.
Trex (TREX) – Trex shares tumbled 7.5% in premarket trading after the maker of decking and railing materials missed both top and bottom line estimates for its latest quarter. Trex said it reduced production levels and implemented layoffs during the quarter as it adjusted to falling sales.