Products You May Like
Take a look at some of the biggest movers in the premarket:
Netgear (NTGR) – Netgear tumbled 10.6% in premarket trading after the networking equipment maker reported weaker-than-expected preliminary results for the quarter that ended April 3. Netgear also cut its current-quarter revenue forecast, pointing to a weaker U.S. market for WiFi equipment.
Zendesk (ZEN) – Zendesk jumped 6.1% in premarket trading following a Bloomberg report that the customer service software developer is exploring a possible sale. Zendesk is said to have hired adviser Qatalyst Partners to assist in the process.
WeWork (WE) – WeWork rallied 5.4% in the premarket after the office-sharing company’s stock was rated “overweight” in new coverage at Piper Sandler. The firm points to confidence in WeWork’s path to profitability and how well the flexible office model fits a post-Covid world.
Acadia Pharmaceuticals (ACAD) – Acadia Pharmaceuticals slid 7.7% in premarket action after the drugmaker said its experimental drug to treat post-operative pain did not meet its primary goal in a Phase 2 study.
Johnson & Johnson (JNJ) – Johnson & Johnson beat estimates by 11 cents a share, with quarterly earnings of $2.67 per share. Revenue came in slightly below forecasts. J&J also suspended sales guidance for its Covid-19 vaccine due to a global supply surplus, and announced a 6.6% dividend hike. Shares initially fell more than 3% in the premarket but subsequently erased those losses.
Travelers (TRV) – Travelers’ shares were volatile in premarket trading, moving between gains and losses after the insurance company beat estimates on the top and bottom lines for its latest quarter. Travelers earned $4.22 per share compared to the $3.57 a share consensus forecast, helped by lower catastrophe losses. Travelers also announced a 5.7% dividend increase.
Plug Power (PLUG) – The hydrogen fuel cell company’s stock jumped 6.6% in premarket action after it announced an agreement to supply liquid green hydrogen to Walmart (WMT).
Halliburton (HAL) – Halliburton fell 2.7% in premarket trading despite beating estimates for its latest quarter. Halliburton earned 35 cents per share, a penny a share above estimates as demand for oilfield services equipment remained high. Halliburton shares had closed at a 3 1/2 year high Monday.
American Campus Communities (ACC) – The student housing real estate investment trust agreed to be bought by Blackstone (BX) in a deal worth $12.8 billion, including debt. American Campus Communities leaped 12.9% in the premarket.
Twitter (TWTR) – Apollo Global Management (APO) may be willing to provide financing for a Twitter buyout, according to sources who spoke to CNBC. The private-equity firm isn’t interested in joining other firms in a buyout bid, however.
JB Hunt Transport (JBHT) – JB Hunt reported quarterly profit of $2.29 per share, beating the $1.94 a share consensus estimate. Revenue also topped Street forecasts. The transportation company said it faced labor challenges due to Covid-19, but added that it overcame that obstacle and that business improved as the quarter progressed. JB Hunt added 1.5% in premarket trading.