Check out the companies that make news before the bell:
Ulta Beauty (ULTA) – Ulta Beauty has announced that CEO Mary Dillon will step down in June to be replaced by the company’s president, David Kimbell. Dillon will step down as executive chairman. Separately, the cosmetics retailer exceeded estimates for the top and bottom lines for its last quarter, but narrowed its comparable tax sales outlook for 2021. Ulta lost 8.2% in premarket trading.
Poshmark (POSH): Poshmark posted better-than-expected sales during its last quarter, but the online retailer of second-hand products issued a forecast for the current quarter that was lower than analysts ’estimates. Its shares fell 12.3% in premarketing shares.
Novavax (NVAX) – Novavax shares soared 16.5% ahead of the market after the drug maker said the Covid-19 vaccine was effective at high levels against both the original strain of the virus and the British variant .
DocuSign (DOCU): DocuSign exceeded estimates by 15 cents with an adjusted quarterly profit of 37 cents per share, and the electronic signature company’s revenue also exceeded analysts ’forecasts. It also issued better-than-expected outlook, but shares fell 4% in premarket trading.
Sanofi (SNY), Translate Bio (TBIO) – Drug manufacturers began a human trial for their second Covid-19 vaccine project, following a delay in their first vaccine last year. This vaccine is based on messenger RNA technology and both companies expect results of interim studies in the third quarter. Shares of Translate Bio rose 5.1% ahead of the market.
Alibaba (BABA) – Alibaba faces a possible record fine by China’s antitrust regulators, people familiar with the matter told the Wall Street Journal. The newspaper said the fine could exceed the $ 975 million paid by chip maker Qualcomm in 2015 as regulators push Alibaba to break away from founder Jack Ma and align more closely with the Communist Party. Shares of the e-commerce giant fell 2.1% in pre-market shares.
Netflix (NFLX): Netflix is testing a new feature to limit password sharing, and some users receive a request to confirm that they live in the same household as the account holder. Research firm Magid has estimated that about a third of Netflix users share their passwords. Netflix fell 1.2% ahead of the market.
Verizon (VZ): Verizon launched a $ 25 billion debt sale to fund the $ 45 billion wireless spectrum purchase that will be used to expand next-generation 5G mobile service. MarketWatch’s demand for reports was extremely strong for sale, more than four times oversubscribed at any given time.
Aegion (AEGN): Aegion is the subject of a tender between New Mountain Capital (NMFC) and Apollo Global (APO). Apollo made an offer for the pipeline services company between $ 26 and $ 30 per share, according to a Bloomberg report, which surpassed the deal Aegion reached with New Mountain last month for $ 26 per share. Aegion jumped 11.5% ahead of the market, while Apollo rose 2.4%.
Buckle (BKE): The fashion accessories retailer reported quarterly earnings of $ 1.33 per share, 7 cents above estimates, with revenue coinciding with Wall Street forecasts. Comparable in-store sales increased 18% compared to a year earlier, and online sales increased 81.5%.
Coherent (COHR): The battle for bids to buy laser and laser technology maker continues with Coherent, saying the latest bid from optoelectronic component maker II-VI (IIVI) is higher than Lumentum’s latest (LITE) . Bidders have gone back and forth several times, with the latest II-VI bid consisting of $ 195 per share in cash and one Lumentum share for each consistent share. Coherent rose 2.1% before the market, while II-VI fell 1.6%.
Vail Resorts (MTN): The resort operator exceeded Wall Street forecasts on both the top and bottom lines in its latest earnings report, although Vail was forced to operate at reduced capacity due to the pandemic. Vail said visiting trends improved throughout the quarter and shares rose 9.7% ahead of the market.