Take a look at some of the biggest drivers in the pre-market:
Lands’ End (LE) – The clothing retailer reported quarterly earnings of 60 cents per share, exceeding the consensus estimate of 56 cents per share. Revenue also exceeded analysts’ forecasts. Lands’ End predicted a lesser-than-expected loss for the current quarter and full-year earnings that exceed consensus. Its shares jumped 6.7% in the pre-market negotiations.
Lennar (LEN) – Lennar reported quarterly earnings of $ 2.04 per share, exceeding the consensus estimate of $ 1.71 per share. The construction company’s revenue also exceeded estimates, helped by low interest rates and solid demand. The company said demand remains strong, despite the recent increase in rates. Lennar added 1% to the pre-market.
Coupa Software (COUP) – Coupa gained 17 cents per share in the last quarter, compared to expectations of a loss of 11 cents per share. The financial management software provider’s revenue was above expectations, despite what the company calls a difficult macroeconomic environment. Coupa’s shares rose 2% in the pre-market.
CrowdStrike (CRWD) – CrowdStrike beat estimates by 5 cents per share, with quarterly earnings of 13 cents per share. Revenue was also above estimates. The security software company also issued an optimistic outlook. Its shares gained 4.9% in pre-market share.
Uber Technologies (UBER) – Uber will grant drivers in the UK a job status that will entitle them to holiday pay and pension contributions after the ride service has lost the final appeal of a case involving driver rating. Uber shares fell 1.6% in the pre-market.
Plug Power (PLUG) – Plug Power’s shares plunged 18.6% in the pre-market after it said it will re-present its financial results for 2018 and 2019, as well as some recent quarterly records. The fuel cell manufacturer said it detected errors in the way it accounted for a variety of non-monetary items, but added that it found no misconduct.
Coherent (COHR) – The laser maker said it received a revised takeover bid for optical component maker Lumentum (LITE) for $ 6.9 billion in cash and shares. This is Coherent’s eighth bid in a takeover bid involving Lumentum, II-VI (IIVI) and MKS Instruments (MKSI). Coherent’s shares jumped 3.7% in pre-market trading.
Pinduoduo (PDD) – The China-based e-commerce company reported a 146% increase in quarterly revenue that exceeded analysts’ estimates. Pinduoduo has also overtaken Alibaba (BABA) as China’s largest e-commerce company, with 788.4 million active users in 2020, compared to Alibaba’s 779 million. Its shares initially rose in the pre-market with the news, but later fell 5.8%.
Baidu (BIDU) – Baidu is expected to raise about $ 3.1 billion from the Hong Kong-based Internet search firm based in China, according to people with direct knowledge of the matter who spoke to Reuters. Previously, Baidu was expected to raise around $ 3 billion at the price. Baidu’s shares fell 1.9% in the pre-market.
Micron Technology (MU) – Micron plans to sell a Utah chip factory that manufactured a type of memory chip called 3D Xpoint, developed in conjunction with Intel (INTC) in 2012. It plans to exit the 3D Xpoint market due to the low customer demand.
Catalent (CTLT) – Catalent is planning a major expansion of Covid-19 vaccine production in Europe, according to people familiar with the matter who spoke to The Wall Street Journal. The contracted drug maker will double Johnson & Johnson (JNJ) vaccine production by starting a new production line at an Italian factory during the fourth quarter.
FirstEnergy (FE) – First Energy confirmed that the concessionaire struck a deal with activist investor Carl Icahn, giving him two seats on the board and avoiding a possible proxy dispute. The deal had previously been reported by The Wall Street Journal. FirstEnergy rose 1.4% in the pre-market.