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Find out which companies are making the headlines before the bell:
Affirm Holdings (AFRM) – Affirm soared 22.4% in pre-market as the company’s “buy now, pay later” revenue easily exceeded estimates. The number of active traders has more than quintupled and Affirm has also issued a positive outlook.
Toyota Motor (TM) – The automaker has reduced its annual production target to 300,000 vehicles as factories in Vietnam and Malaysia have been hit by the spread of Covid-19 and the current shortage of computer chips. Toyota gained 1.1% in pre-marketing.
Endo International (ENDP) – Endo jumped 19.1% in pre-market actions after agreeing to pay $ 50 million to resolve lawsuits brought by New York State and two counties over the sale and marketing of opioids by the drug manufacturer.
Bausch Health (BHC) – Bausch Health will pay $ 300 million to settle an antitrust lawsuit involving the company’s diabetes drug Glumetza. Bausch had been accused of illegally maintaining a monopoly on the treatment, with the price rising nearly 800% in 2015.
Wells Fargo (WFC) – Wells Fargo has been fined $ 250 million by regulators who said the bank had not made enough progress in addressing ongoing issues in its mortgage business. Regulators first identified these issues in a 2018 order. Wells Fargo shares added 2% to the pre-market share.
Nielsen Holdings (NLSN) – Nielsen CEO David Kenny defended the rating company in a letter to TV industry executives and said Nielsen needs to speed up the adjustment of its rating systems to capture the consumers’ shift from traditional viewing to streaming. Nielsen stock rose 1.3% pre-market.
Dave & Buster’s (PLAY) – Dave & Buster’s was up 7.9% in pre-market trading after reporting quarterly earnings of $ 1.07 per share, well above the consensus estimate of 58 cents. The restaurant and arcade chain’s revenue exceeded Wall Street forecasts and Dave & Buster’s said it continued to see signs of a recovery in business. He expects this to continue, barring a significant Covid-related slowdown.
American Outdoor Brands (AUGUST) – American Outdoor Brands gained 48 cents adjusted per share for its first fiscal quarter, 8 cents above estimates. The manufacturer of outdoor recreation products benefited from increased profit margins and increased sales in domestic and international markets. He predicts an annual profit of $ 2.02 to $ 2.26, compared to a consensus estimate of $ 2.24. Shares slipped 5.4% pre-market.
Zumiez (ZUMZ) – Zumiez topped estimates by 23 cents with adjusted quarterly earnings of $ 1.02 per share, but earnings fell short of consensus. The streetwear and action sports apparel maker did not provide an outlook, due to volatile market conditions, and shares fell 5.3% in pre-market trading.
Take-Two Interactive (TTWO) – Take-Two is delaying new releases of its “Grand Theft Auto” video game for four months, saying it wants more time to “further refine” the end products. Take-Two maintained its outlook for the previous year, and shares fell 1.9% pre-market.
Sunrun (RUN), First Solar (FSLR) – Sunrun was up 2.8% in pre-market trading, while First Solar added 1.1%. Sunrun was rated “buy” in the new coverage at Needham, and the company launched a coverage on First Solar with a “conservation” rating. Needham is bullish on Sunrun due to its market leadership in the solar industry, while he worries in the near term about pressures on First Solar’s profit margins.
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