Take a look at some of the biggest moving agents in the premarket:
Okta (OKTA) – Okta gained 10.5% of its premarket trading after announcing it was buying customer management software provider Auth0 for $ 6.5 billion in stock. The identity management software provider also reported quarterly earnings of 6 cents per share, compared to the consensus forecast of a loss of 1 cents per share. Okta also gave a weaker-than-expected earnings forecast for the current quarter.
Marvell Technology (MRVL) – Marvell shares fell 5.9% in the premarket after the chip maker issued a disappointing outlook and said chip supply could remain limited throughout the fiscal year. Marvell matched estimates with its latest quarterly earnings, with revenues hitting analysts’ forecasts.
Vroom (VRM) – Vroom fell 14.9% in premarket stock after reporting a higher-than-expected loss for the last quarter, although online second-hand car salesman’s revenues exceeded estimates.
BJ’s Wholesale (BJ) – The warehouse retailer gained 70 cents per share in the last quarter, exceeding the 67 cents a consensual estimate of the share. Revenues also exceeded forecasts, and a 15.9% increase in sales comparable to ex-fuel oil exceeded the 15.5% increase anticipated by analysts surveyed by FactSet. BJ has refused to provide guidance for 2021 due to uncertainty over the pandemic. Its shares lost 1.6% in premarket trading.
Burlington Stores (BURL) – The clothing and other retailer reported quarterly earnings of $ 2.44 per share, up 32 cents a share from estimates. Revenue also exceeded Wall Street forecasts. Sales at comparable stores were flat for the quarter, compared to expectations of a 10% drop.
Ciena (CIEN) – The network equipment manufacturer exceeded estimates by 7 cents per share, with a quarterly profit of 52 cents per share. Revenues also exceeded analysts’ projections. Ciena shares fell 3.1% in the premarket, despite higher forecasts.
Rocket Companies (RKT) – Rocket shares have moved between gains and losses from premarket trading, following large fluctuations in recent days. Shares of Quicken Loans shares fell 33% on Wednesday, after rising 71% the day before amid increased attention on online financial forums. Shares rose 1.8% in the premarket.
CureVac (CVAC) – The German drug maker’s shares rose 4.1% in the premarket after Novartis (NVS) said it would help CureVac manufacture its Covid-19 vaccine once the drug is approved by regulators.
Walt Disney (DIS) – Disney plans to close approximately 60 of its North American brick and mortar Disney Store locations by the end of the year as it focuses on its e-commerce operations. There are currently about 300 stores worldwide. Disney shares fell 1% in premarket stock.
General Electric (GE) – GE shares gained 2.2% in the premarket after Morgan Stanley raised its share price target to a maximum of $ 17 per share from $ 13 per share, based in part on a possibly significant recovery in the GE aviation segment.
Amazon.com (AMZN) – Amazon is in talks with the National Football League to carry a significant number of games exclusively on its Prime video service, according to people familiar with the matter who spoke to The Wall Street Journal. The deal could cause Amazon to pay $ 1 billion for the exclusive rights to most of Thursday’s games.
Snowflake (SNOW) – Snowflake lost nearly $ 199 million in the fourth quarter, more than double the loss a year ago for the cloud database software company. Revenues also doubled during the quarter, exceeding consensus forecasts. Following a record initial public offering for a software company last year, the lockout of the sale of preferred shares will expire tomorrow.
American Eagle (AEO) – American Eagle exceeded estimates by 3 cents per share, with a quarterly profit of 39 cents per share. The clothing retailer’s revenue came in slightly above Wall Street forecasts. American Eagle also forecasts first-quarter best sales in the past three years, driven by growth in its Aerie lounge and lingerie brand. The American Eagle grew 2.2% in the premarket.
Walmart (WMT) – Walmart’s Flipkart unit is exploring the idea of listing in the US, possibly through a merger of a special purpose purchasing company (SPAC), according to people familiar with the matter who spoke with Bloomberg. Walmart has bought a majority stake in India’s e-commerce company.
Splunk (SPLK) – The analysis software company reported a quarterly profit of 38 cents per share, well above the consensual estimate of 4 cents per share. Splunk also provided better-than-expected revenue. Its shares gained 3.4% in premarket trading.