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Find out which companies are making the headlines before the bell:
General Electric (GE) – GE has reached an agreement to combine its aircraft leasing unit, GE Capital Aviation Services, with Ireland AerCap (AER). It was reported earlier this week that the two sides were in talks. In addition, GE’s board of directors recommends a reverse 1: 8 stock split to better align its exceptional stock levels with companies of comparable market capitalization. GE was up 2.2% before market launch, while AerCap jumped 4.1%.
Eli Lilly (LLY) – The drugmaker said its combination of anti-Covid-19 antibodies reduced the risk of hospitalization and death by 87% in an advanced-stage study. This was the second study of the therapy – the first had used a higher dose of medication and reduced hospitalizations and deaths by 70%.
Campbell Soup (CPB) – The food maker saw its adjusted profits and revenue meet analysts’ expectations for its fiscal second quarter. Campbell forecasts adjusted earnings for the full year of $ 3.03 to $ 3.11 per share, compared to a consensus estimate of $ 3.05.
Express (EXPR) – The clothing retailer lost 66 adjusted cents per share for its most recent quarter, less than the 83 cent loss analysts expected. Revenue was larger than expected, despite a larger than expected drop in same-store sales, and inventory climbed 30% in pre-release.
Roblox (RBLX) – Roblox goes public on the New York Stock Exchange today through a direct listing, after the exchange set a benchmark price of $ 45 per share for the company’s stock. -form of video games.
Coherent (COHR) – Coherent announced a revised merger agreement with Lumentum (LITE) in which shareholders receive $ 175 per share in cash and 1.0109 Lumentum share for each share they now hold. The revised offer for the maker of lasers and laser technology came after optoelectronic component maker II-VI (IIVI) submitted an offer for Coherent that exceeded the original deal Coherent made with Lumentum in February. Coherent was up 2.2% before market release.
GameStop (GME) – GameStop jumped another 15.2% in pre-trade, after a 5-day winning streak that saw its shares more than double. Other so-called “meme stocks” were also up in pre-market action, 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 after reaching the mandatory board retirement age of 72. He will be replaced as chairman of the clothing manufacturer’s board by Robert Eckert, a current board member and former Mattel CEO. Levi Strauss shares fell 1% pre-market.
MongoDB (MDB) – MongoDB reported lower-than-expected loss and better-than-expected revenue for its final quarter, although the database company also forecast full-year results that were lower than analysts’ forecast . The stock gained 1.6% in pre-market share.
Pfizer (PFE), BioNTech (BNTX) – Drugmakers 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 will be delivered before the end of March. BioNTech shares added 2.1% in pre-market trading.
Toll Brothers (TOL) – Shares of the luxury home builder were up 2% in pre-market trading after announcing a 54% increase in its quarterly dividend to 17 cents per share from the previous 11 cents.
H&R Block (HRB) – H&R Block posted a larger 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 hit its financial goals for the full year, and the stock is up 1.2% before it goes to market.
Biohaven Pharmaceuticals (BHVN) – The FDA has released a letter to Biohaven indicating that a direct-to-consumer video is making false or misleading claims about Biohaven Nurtec ODT’s migraine treatment. The video features an interview with Khloe Kardashian, identifying her as a paid spokesperson for Biohaven.
Apple (AAPL) – Apple has cut iPhone production orders by 20% for the first half of this year, according to the Japanese press service Nikkei. The cuts are said to be focused on Apple’s iPhone 12 Mini model.
Conagra Brands (CAG) – Conagra is in talks to sell the National Hebrew hot dog brand to Brazil’s JBS, according to people familiar with the matter who spoke with the Wall Street Journal. A deal could be valued at around $ 700 million.
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