Check out the companies that make headlines before the bell:
General Electric (GE) – GE has entered into an agreement to combine its aircraft leasing unit, GE Capital Aviation Services, with AerCap (AER) in Ireland. It was reported earlier this week that the two sides were in talks. Separately, GE’s board of directors recommends a reverse division of shares from 1 to 8 to align their outstanding share levels more closely with companies with comparable market capitalization. GE was up 2.2% premarketed, while AerCap was up 4.1%.
Eli Lilly (LLY) – The drug manufacturer said that combination therapy with Covid-19 antibodies reduced the risk of hospitalization and death by 87% in a late-stage study. It was the second study of the therapy – the first used a higher dose of drugs and reduced hospitalization and death by 70%.
Campbell Soup (CPB) – The food producer saw both adjusted earnings and analysts’ earnings adjustment forecasts for the second fiscal quarter. Campbell projects year-round adjusted earnings of $ 3.03 to $ 3.11 per share, compared to a consensus estimate of $ 3.05.
Express (EXPR) – The clothing retailer lost 66 cents per share adjusted in the last quarter, lower than the loss of 83 cents that analysts expected. Revenues were higher than forecast, despite a larger-than-expected decline in sales in the same store, and the stock rose 30% in pre-market trading.
Roblox (RBLX) – Roblox goes public today on the New York Stock Exchange through a direct listing, after the stock market set a reference price of $ 45 per share for the shares of the video game platform company.
Coherent (COHR) – Coherent has announced a revised merger agreement with Lumentum (LITE) in which shareholders receive $ 175 per share in cash and 1.0109 Lumentum shares for each share they now hold. The revised offer for the manufacturer of lasers and laser technology came after the manufacturer of optoelectronic components II-VI (IIVI) came up with an offer for Coherent that exceeded Coherent’s initial agreement with Lumentum in February. Coherent advance increased by 2.2%.
GameStop (GME) – GameStop rose another 15.2% in pre-market trading, after a series of 5-day victories that saw its shares more than double. Other so-called “meme stocks” also rose in pre-market share, AMC Entertainment (AMC) rose 7.7% and Koss Corp. (KOSS) increased by 11.2%.
Levi Strauss (LEVI) – The president of Levi Strauss, Stephen Neal, will resign on March 26, at the mandatory retirement age of 72 years. CEO. Levi Strauss shares fell 1% premarket.
MongoDB (MDB) – MongoDB reported lower-than-expected losses and better-than-expected earnings for the last quarter, although the database company also forecast year-over-year results that did not exceed analysts’ forecasts. The stock gained 1.6% in the premarket share.
Pfizer (PFE), BioNTech (BNTX) – Drug manufacturers have reached an agreement with the European Union to supply an additional 4 million doses of Covid-19 vaccine to EU member states. Doses will be delivered before the end of March. BioNTech shares added 2.1% in premarket trading.
Toll Brothers (TOL) – The shares of the luxury home builder rose 2% in premarket 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 reported higher quarterly losses and lower-than-expected revenues, citing a delay in the start of the tax filing season. However, the tax preparation company expects to meet its financial targets for the whole year, and the stock gained 1.2% premarket.
Biohaven Pharmaceuticals (BHVN) – The FDA has issued a letter to Biohaven stating that a video directly to the consumer makes false or misleading claims about the treatment of Mighaven migraine, Nurtec ODT. The video features an interview with Khloe Kardashian, who identifies her as a paid spokesperson for Biohaven.
Apple (AAPL) – Apple reduced iPhone production orders for the first half of this year by 20%, according to Japan’s Nikkei news service. The discounts are said to be concentrated in the Apple iPhone 12 Mini.
Conagra Brands (CAG) – Conagra is in talks to sell the national Jewish hot dog brand to JBS in Brazil, according to people familiar with the matter who spoke to the Wall Street Journal. A business could be valued at about $ 700 million.