Take a look at some of the biggest moving agents in the premarket:
Lands’ End (LE) – The clothing distributor reported quarterly earnings of 60 cents per share, exceeding 56 cents a consensus estimate of the action. Revenues also exceeded analysts’ forecasts. Lands’ End forecasts a lower-than-expected loss for the current quarter and year-over-year gains that exceed the consensus. Its shares increased by 6.7% in premarket trading.
Lennar (LEN) – Lennar reported quarterly earnings of $ 2.04 per share, exceeding the consensus estimate of $ 1.71 per share. The income of the housing builder also exceeds the estimates, helped by low interest rates and solid demand. The company said demand remains strong, despite a recent rise in rates. Lennar added 1% to the premarket.
Software Coupa (COUP) – Coupa gained 17 cents a share in the last quarter, compared to expectations of a loss of 11 cents per share. The revenue of the financial management software provider has exceeded expectations, despite what the company calls a difficult macroeconomic environment. Coupa shares rose 2% in premarket trading.
CrowdStrike (CRWD) – CrowdStrike exceeded estimates by 5 cents per share, with quarterly earnings of 13 cents per share. Revenues also exceeded estimates. The security software company also issued an optimistic outlook. Its shares gained 4.9% in the premarket share.
Uber Technologies (UBER) – Uber will grant drivers in the UK employment status that will entitle them to paid leave and pension contributions after the travel service lost the final appeal in a case involving driver classification. Uber shares fell 1.6% in premarket trading.
Plug Power (PLUG) – Plug Power shares fell 18.6% in the premarket after declaring that it will restore its financial results for 2018 and 2019, as well as some recent quarterly records. The fuel cell maker said it detected errors in how it accounted for a variety of cashless items, but added that it had found no misconduct.
Coherent (COHR) – The laser maker said it has received a revised takeover bid from optical components maker Lumentum (LITE) for $ 6.9 billion in cash and stock. This is the eighth bid for Coherent in a takeover bid involving Lumentum, II-VI (IIVI) and MKS Instruments (MKSI). Coherent shares increased 3.7% in premarket trading.
Pinduoduo (PDD) – China’s e-commerce company reported a 146% increase in quarterly revenue, which exceeded analysts’ estimates. Pinduoduo also surpassed Alibaba (BABA) as the largest e-commerce company in China, with 788.4 million active users in 2020, compared to Alibaba’s 779 million. Its stock initially rose in the news premarket, but then fell by 5.8%.
Baidu (BIDU) – Baidu is set to raise about $ 3.1 billion from the list of China-based Internet search company Hong Kong, according to people with direct knowledge of the subject who spoke to Reuters. Previously, Baidu was expected to raise about $ 3 billion from the list. Baidu shares fell 1.9% in the premarket.
Micron Technology (MU) – Micron plans to sell a chip factory in Utah that made a type of memory chip called 3D Xpoint, which it developed with Intel (INTC) in 2012. It plans to leave the 3D Xpoint market because reduced customer demand.
Catalent (CTLT) – Catalent is planning a major expansion of Covid-19 vaccine production in Europe, according to people familiar with the matter who spoke to The Wall Street Journal. The contracted drug maker will double Johnson & Johnson (JNJ) vaccine production, starting a new production line at an Italian factory in the fourth quarter.
FirstEnergy (FE) – First Energy has confirmed that the utility has entered into an agreement with activist investor Carl Icahn, giving him two seats on the board and avoiding a potential proxy fight. The deal had previously been reported by The Wall Street Journal. FirstEnergy increased 1.4% in premarket trading.