Check out some of the most important premarket engines:
Okta (OKTA): Okta gained 10.5% in premarket trading after announcing it is 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 forecasts of a loss of 1 cent per share. Okta also gave a weaker-than-expected current quarter earnings forecast.
Marvell Technology (MRVL) – Marvell shares fell 5.9% in the pre-market after the chip maker issued a disappointing outlook and said the chip supply could remain tight throughout the fiscal year. Marvel combined the estimates with its latest quarterly earnings, with revenue above analysts ’forecasts.
Vroom (VRM): Vroom fell 14.9% in pre-market share after reporting a broader-than-expected loss in its last quarter, despite the seller’s revenue from used vehicles online exceeded estimates.
BJ’s Wholesale (BJ): The warehouse retailer earned 70 cents per share over the last quarter, surpassing the estimated 67 cents by consensus. Revenue also exceeded forecasts and an increase in comparable in-store sales of 15.9% exceeded the 15.5% forecast by analysts surveyed by FactSet. BJ’s declined to provide guidance for 2021 due to pandemic-related uncertainty. Its shares lost 1.6% in premarket trading.
Burlington Stores (BURL): The clothing and other merchandise retailer reported quarterly earnings of $ 2.44 per share, 32 cents per share above estimates. Revenue also exceeded Wall Street forecasts. Sales at comparable stores were flat during the quarter against expectations of a 10% drop.
Ciena (CIEN) – The network equipment maker exceeded estimates by 7 cents per share, with a quarterly profit of 52 cents per share. Revenue also exceeded analysts ’projections. Shares of Ciena fell 3.1% in the pre-market, despite exceeding forecasts.
Rocket Companies (RKT): Rocket stocks moved between gains and losses in premarket trading, following broad changes in recent days. Shares of the Quicken Loans stock fell 33% on Wednesday after rising 71% the day before, amid higher attention in online financial forums. Shares rose 1.8% in the pre-market.
CureVac (CVAC) – Shares of German drug makers rose 4.1% in the pre-market 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 brick-and-mortar Disney Store locations in North America by the end of the year, as it will focus on its e-commerce operations. There are currently about 300 stores worldwide. Shares of Disney fell 1% in premarketing shares.
General Electric (GE) – GE shares gained 2.2% in the pre-market after Morgan Stanley raised its stock price target to a maximum of $ 17 per share from $ 13 per share, based on part in a possibly significant recovery of GE’s aviation segment.
Amazon.com (AMZN) – Amazon is in talks with the National Football League to bring a significant number of games exclusively to 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 games on Thursdays.
Snowflake (SNOW): Snowflake lost nearly $ 199 million in the fourth quarter, more than double the previous year’s loss for the cloud database software company. Revenues also doubled during the quarter, beating consensus forecasts. After making an initial record public offering for a software company last year, the lockout of the sale of preferred shares will expire tomorrow.
American Eagle (AEO): American Eagle surpassed estimates by 3 cents per share, with a quarterly profit of 39 cents per share. The clothing retailer’s revenue slightly exceeded Wall Street forecasts. American Eagle also expects first-quarter best sales in three years, driven by the growth of its underwear and underwear brand Aerie. American Eagle rose 2.2% in the pre-market.
Walmart (WMT) – Walmart’s Flipkart unit is exploring the idea of a U.S. listing, possibly through a merger of Special Purpose Acquisition Companies (SPACs), according to people familiar with the matter. talk to Bloomberg. Walmart bought a majority stake in the e-commerce company based in India in 2018.
Splunk (SPLK): The analytics software company reported a quarterly profit of 38 cents per share, well above the agreed-upon estimate of 4 cents per share. Splunk also earned better-than-expected revenue. Its shares gained 3.4% in premarket trading.