Find out which companies are making the headlines before the bell:
Discovery Communications, ViacomCBS – Both media stocks are higher this morning, after being beaten in the liquidation of shares involving hedge fund Archegos Capital. Discovery was up 1.6% pre-market after a 6-day losing streak that stripped nearly 47% of its value, while Viacom gained 1.1% after a 5-day slippage that left it behind. lost 55% of its value.
Nomura Securities, Credit Suisse – Nomura and Credit Suisse retreated again in pre-market trading, after falling on Monday on news of an anticipated loss of fallout from sales of Archegos Capital shares. Nomura fell 1.9%, while Credit Suisse fell 2.6%.
Albertsons – The supermarket chain has announced a major partnership with Alphabet-owned Google that will integrate a variety of Google services to improve the shopping experience for Albertsons customers.
PayPal Holdings – PayPal will launch a payment service that allows US customers to use cryptocurrency funds when shopping at millions of online merchants. Customers will have the option to convert cryptocurrency into fiat currencies before finalizing their purchases.
T-Mobile US – Wireless operator to end live TV service ‘TVision’ at the end of April and instead offer customers discounts for subscribing to Google’s YouTube TV service .
McCormick & Co. – The spice and condiment maker reported adjusted quarterly profit of 72 cents a share, beating consensus estimates of 13 cents, with revenue also beating estimates. The company has also raised its forecast for the full year as the pandemic continues to see more consumers cooking at home. McCormick stock gained 2.1% in pre-market stock.
Tegna – The media company increased its quarterly dividend to 9.5 cents per share from the previous 7 cents, payable July 1 to shareholders of record on June 4.
Roku – Video streaming device maker saw stock rise 1.6% before release, after Truist Financial upgraded stock to ‘buy’ to ‘hold’ what it considers as multiple opportunities for revenue improvement as well as current valuation.
Yelp – The review site operator has been upgraded from “buy” to “neutral” at Citi, allowing Yelp to benefit from a number of trends over the next few years, including reopenings of restaurants and reduced selling costs. Yelp gained 1.8% pre-market.
BioNTech – Shares of the German biotech company jumped 4.9% before market launch after raising its manufacturing target for its Covid-19 vaccine to 2.5 billion doses by the end of 2021 Previously, Pfizer, vaccine partner of BioNTech, had predicted production between 2.3 billion and 2.4 billion.
FactSet – The financial information provider reported adjusted quarterly earnings of $ 2.72 per share, missing consensus estimates of 2 cents, while earnings were in line with Wall Street forecasts. FactSet also predicted adjusted earnings for the full year of $ 10.75 to $ 11.15 per share, compared to a consensus estimate of $ 11.17.
Becton Dickinson – The medical device maker has received emergency use clearance from the FDA for a new rapid antigen test capable of detecting both influenza and Covid-19.
DraftKings – The sports betting company has announced the acquisition of the sports betting and content company VSiN for an undisclosed amount. DraftKings shares jumped 1% before market launch.