Take a look at some of the biggest moving agents in the premarket:
Peloton (PTON) – Peloton is seeking a new opinion from the Commission on the safety of “inaccurate and misleading” consumer products, saying that its lanes are safe when safety recommendations are followed. The CPSC said consumers with young children or pets should stop using treadmills after its investigation into the death of a child showed dozens of injured cases. Shares fell 6.7% in premarket trading.
Coca-Cola (KO) – Coca-Cola reported a quarterly profit of 55 cents per share, exceeding estimates by 5 cents per share. Revenue also exceeded Wall Street forecasts, and operating margins improved from a year earlier. The fight came despite continued pressure from out-of-home sales due to the pandemic.
GameStop (GME) – GameStop CEO George Sherman will resign on July 31 or sooner if a successor is found beforehand. The company said in a repository of the Securities and Exchange Commission that it has assessed executive management to ensure it is suitable for a changing business landscape. Separately, Keith Gill, the man known as “Roaring Kitty,” exercised options to buy another 50,000 shares of the video game retailer at a weight price of $ 12 per share, according to a Bloomberg report. Gill now owns 200,000 GameStop shares. GameStop increased 8.6% in premarket trading.
Harley-Davidson (HOG) – The motorcycle manufacturer earned $ 1.68 per share in the last quarter, well above the consensual estimate of 88 cents per share. Revenues were essentially in line with forecasts. Harley also raised year-round guidelines for motorcycles’ revenue and profit margins, saying the actions taken to reshape its business have yielded positive results. Separately, Harley said it would appeal a European Union ruling that could lead to a massive increase in tariffs for European sales. Shares gained 8.4% in the premarket share.
Herman Miller (MLHR) – The shares of the office furniture manufacturer fell 12% in the premarket after announcing a deal to buy Knoll (KNL) furniture and accessories for $ 1.8 billion in cash and stock. The transaction is worth $ 25.06 per share, compared to Knoll’s closing price on Friday of $ 17.23, and Knoll shares rose more than 28% in the premarket.
M&T Bank (MTB) – The bank earned $ 3.41 per share in the last quarter, compared to a consensus estimate of $ 3 per share. Revenues also exceeded estimates. The bank noticed improvements in its residential and trustworthy mortgage banking activities, among other factors, and the stock increased by 1.4% in premarket trading.
Coinbase (COIN) – Coinbase fell 2% in the premarket, with two notable transactions involving stock in the news. Cathie Wood’s ARK funds bought several shares on Friday, according to the company’s daily trading summary, while regulatory documents show that Coinbase CEO Brian Armstrong sold shares worth about $ 292 million on the first day of trading. Coinbase.
Church & Dwight (CHD) – Consumer product stock fell 1.9% premarket after Morgan Stanley reduced it to “underweight” from “equal weight” with rising commodity costs, a key factor that could put pressure profits.
Tribune Publishing (TPCO) – Swiss billionaire Hansjorg Wyss has turned down an offer for Tribune, according to The Wall Street Journal. This leaves Stewart Bainum, president of Choice Hotels, looking for a new partner in his offer for the newspaper publisher, while trying to surpass the Alden Capital hedge fund for Tribune.
Tesla (TSLA) – Texas police officers investigating the fatal crash of a Tesla vehicle say they are almost certain no one was driving at the time. It is not yet certain whether the car’s “autopilot” system was activated when the accident occurred on Saturday. Tesla fell 1.9% in the premarket.
First Solar (FSLR) – The solar energy company grew by 3.1% in the premarket trade after it was modernized to “buy” from “neutral” at Citi. The company points to “several positive catalysts”, including a potential 10-year extension of the federal solar tax credit.