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Find out which companies are making the headlines before the bell:
Tesla (TSLA) – Tesla has announced that it will be moving its Texas headquarters from California, with CEO Elon Musk noting the high cost of living and operating in California. Musk said the company plans to increase production at its plants in California and Nevada.
Allogene Therapeutics (ALLO) – The drugmaker’s shares fell 38.4% pre-market after the FDA suspended trials of the company’s cancer drugs due to chromosomal abnormality in a single patient . The hold will be in place until an investigation is completed.
Quidel (QDEL) – Quidel stock rose 6.1% in pre-market trading after the rapid diagnostic test maker reported more than $ 500 million in quarterly revenue, well above analysts’ forecast . Growth was mainly driven by revenues related to Covid-19.
Chubb (CB) – Chubb is buying the Asia-Pacific and Turkey businesses of rival insurer Cigna (CI) for $ 5.75 billion in cash. The transaction is expected to be finalized in the course of next year.
Oatly (OTLY) – Shares of the oatmilk maker jumped 5.4% pre-market after JP Morgan Securities changed the stock from “overweight” to “neutral”. The company notes a drop of 49% from the June peak and now views the upside potential as far greater than the downside risk.
Momentive Global (MNTV) – The owner of SurveyMonkey is exploring a potential sale, according to people familiar with the matter who spoke to Bloomberg. Talks are still in their early stages and Momentive may decide to remain independent. The stock jumped 10.9% in pre-market.
Accolade (ACCD) – Accolade reported a quarterly loss of 97 cents per share, larger than the 56-cent loss expected by Wall Street analysts, although the health care benefits solutions provider saw its bottom line earnings. most esteemed. His forecast points to a similar trend for the current quarter, forecasting a slightly larger-than-expected loss and better-than-expected revenue. Accolade shares fell 7.8% pre-market.
Beauty Health (SKIN) – Beauty Health shares rose 2% pre-market after Stifel Financial launched coverage of the beauty products maker with a “buy” rating. Stifel’s price target is $ 33, which represents a 24% increase.
Sirius XM (SIRI) – Shares of the satellite radio operator fell 1.4% in pre-market trading after JP Morgan lowered the stock from “overweight” to “neutral,” citing slower sales new cars as well as an acceleration of investments in satellites.
Vaxart (VXRT) – Vaxart shares jumped 8.5% pre-market following positive test results involving its oral Covid-19 vaccine candidate. The biopharmaceutical company said the vaccine could reduce airborne transmission of the virus and induce a robust immune response.
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