Here are some companies making notable pre-market moves:
- Estee Lauder: The cosmetics company’s stock jumped by nearly 10% after confirming the end of merger talks with Puig.
- Workday: Shares increased by over 8% following a report of better-than-expected results and an improved full-year profit margin outlook. During this quarter, co-founder Aneel Bhusri returned as CEO.
- Merck: The drugmaker’s stock rose around 3.5% after a Phase 3 study found that a lung cancer treatment, developed in collaboration with China’s Cologne Biotech, reduced tumor progression risk by 65%.
- Zoom Communications: The video conferencing platform saw a 7% rise in its stock as investors reacted positively to its latest financial results, which exceeded expectations. Additionally, Zoom increased its share buyback program by $1 billion.
- IMAX: Shares skyrocketed by 14% amid reports that the company is exploring a potential sale and engaging in initial talks with a possible buyer. Officials mentioned that IMAX bankers frequently assess market interest for sales.
- Ross Stores: The discount retailer’s shares surged 4.5% after reporting better-than-anticipated quarterly earnings and raising its full-year profit and comparable sales forecasts.
- Take-Two Interactive: Shares climbed nearly 4% after slightly higher sales figures were reported. The company also confirmed that Grand Theft Auto VI remains scheduled for a November launch.
- Futu: In contrast, the Hong Kong-based brokerage witnessed a 36% drop in its U.S.-listed shares following China’s crackdown on illegal cross-border securities trading. Penalties for violating regulations were announced, as reported by Reuters.
- PDD Holdings and Alibaba: Stocks for these companies, both with significant operations in China, decreased as well. PDD dropped about 6%, while Alibaba fell 4.5% amid the same regulatory crackdown.
- Deckers Outdoor: Despite exceeding Wall Street expectations in its fiscal fourth quarter, the company’s stock fell by 2%. Deckers reported earnings of 96 cents per share on $1.11 billion in revenue, beating consensus predictions of 83 cents per share on $1.09 billion. Revenue for UGG products hit $409 million, surpassing estimates.
- BJ’s Wholesale Club: Shares were up 2% after reporting first-quarter adjusted earnings of $1.10 per share, with revenue at $5.66 billion—better than analysts’ predictions of $1.03 per share and $5.44 billion in revenue. The company also reaffirmed its full-year outlook.
- Perpetua Resources: The mining company’s stock grew by over 10% after announcing a $2.9 billion loan from the U.S. Export-Import Bank, aimed at funding its stibnite gold project in Idaho, which will also produce antimony.
- Advanced Micro Devices: Shares increased by over 1.5% after CEO Lisa Su expressed optimism about sustained demand for CPUs over the next five years.
- Arm: The chipmaker’s stock saw a decline of more than 2.5% after an impressive 42% surge over four days. Despite seeing a premarket selloff, the stock was still on track for its best week since late April.
- Booz Allen Hamilton: The consulting firm’s shares rose by over 5% after reporting adjusted earnings of $1.78 per share, exceeding analysts’ estimates, although revenue was slightly below expectations.
- Generac: The company’s stock rose by more than 3% following an upgrade from Jefferies, which noted that the construction of a data center could be a catalyst for future price increases.
