Check out the companies that make the headlines before the bell:
Car biggest (KMX)-The auto retailer’s quarterly earnings fell below expectations by 18 cents, with earnings per share of $1.72, even though revenue exceeded analysts’ expectations. Comparable used car sales increased by 6.2%, which was lower than the 7.3% estimated by analysts surveyed by StreetAccount. CarMax fell 7.1% before the market.
McCormick (MKC)-The fragrance manufacturer reported adjusted quarterly earnings per share of 80 cents, beating expectations by 8 cents, and revenue slightly higher than Wall Street’s expectations. However, it also lowered its full-year profit forecast because it responded to higher inflation and logistics challenges.
Fubo TV (FUBO)-Fubo Gaming, a sports-centric video streaming service, is cooperating with payment platforms Alipay (PSFE) interactive betting operation. Paysafe rose 1.1% before the market, while fuboTV rose 1.4%.
Merck (MRK)-Merck reached an agreement to acquire a pharmaceutical manufacturer Acceleron Pharmaceuticals (XLRN) US$180 in cash or US$11.5 billion per share. Earlier this month, there were reports that Acceleron was about to reach a sales agreement, and earlier this week reports called Merck a suitor.
Virgin Galactic (SPCE)-Virgin Galactic’s stock price soared 8.9% before the market after the FAA concluded its investigation into the flight accident on July 11 and allowed the company to resume its launch. The investigation determined that the July flight deviated from its designated route, and Virgin Atlantic failed to notify the FAA of the deviation as required.
Diageo (DEO)-Diageo said that its new fiscal year has a strong start. The world’s largest spirits producer pointed out that the North American business is strong and the European market is recovering faster than expected. Diageo rose 2.3% in premarket trading.
AstraZeneca (AZN)-This drugmaker’s Covid-19 vaccine has shown 74% efficacy in clinical trials in the United States and 83.5% efficacy in people 65 years of age and older. The company is expected to apply for US approval later this year.
Altria (MO), Philip Morris International (PM)-The International Trade Commission ordered tobacco manufacturers to stop importing and selling their IQOS heated tobacco equipment. The order originated from a patent case filed by rival tobacco manufacturer RJ Reynolds, which has now entered the administrative review stage.
Lordstown Motor Company (RIDE) – Lordstown is about to reach an agreement to sell its Ohio car plant to Taiwan’s Foxconn Technology According to people familiar with the matter, the amount has not been disclosed to Bloomberg.This electric truck manufacturer from General Motors (GM) Less than two years ago. Lordstown rose 5.6% before the market.
Herman Miller (MLHR)-Herman Miller (Herman Miller) adjusted quarterly earnings per share of 49 cents, lower than Wall Street’s forecast, but the office furniture manufacturer’s sales were much higher than expected and also Gives an optimistic current quarterly earnings forecast. Herman Miller rose 2.2% in pre-market trading.
Perigo (PRGO)-After the drugmaker settled a tax dispute with Ireland for approximately US$399 million, Perrigo’s stock price soared by 14.3% in premarket trading without charging interest or fines.