Take a look at some of the most important engines in the pre-market stage:
netgear (NTGR) – Netgear fell 10.6% in premarket trading after the network equipment maker reported weaker-than-expected preliminary results for the quarter ended April 3. Netgear also cut its revenue forecast for the current quarter, pointing to a weaker US market for Wi-Fi. team.
Zendesk (ZEN) – Zendesk jumped 6.1% in premarket trading following a report from Bloomberg that the customer service software developer is exploring a possible sale. Zendesk is said to have hired consultant Qatalyst Partners to help with the process.
We work (WE) – WeWork rallied 5.4% premarket after shares of the office-sharing company were rated “overweight” in Piper Sandler’s new coverage. The firm points to confidence in WeWork’s path to profitability and how well the flexible office model fits into a post-Covid world.
acadian pharmaceuticals (ACAD) – Acadia Pharmaceuticals fell 7.7% in premarket action after the drugmaker said its experimental drug to treat postoperative pain failed to meet its primary endpoint in a phase 2 study.
Johnson and Johnson (JNJ) – Johnson & Johnson beat estimates by 11 cents per share, with quarterly earnings of $2.67 per share. Revenues were slightly below forecasts. J&J also suspended sales guidance for its Covid-19 vaccine due to a global supply glut and announced a 6.6% dividend increase. The shares initially fell more than 3% in premarket but later erased those losses.
Travellers (TRV) – Shares of Travelers were volatile in premarket trading, swinging between gains and losses after the insurance company beat estimates in its latest quarter results. Travelers earned $4.22 per share compared to the consensus forecast of $3.57 per share, helped by lower catastrophe losses. Travelers also announced a dividend increase of 5.7%.
halliburton (HAL) – Halliburton fell 2.7% in premarket trading despite beating estimates for its latest quarter. Halliburton earned 35 cents per share, a penny per share above estimates, as demand for oilfield service equipment remained high. Halliburton shares had closed at a three-and-a-half-year high on Monday.
American college communities (ACC) – The Student Housing Real Estate Investment Trust has agreed to be purchased by black stone (BX) in a deal worth $12.8 billion, including debt. American Campus Communities jumped 12.9% premarket.
Twitter (TWTR)- Apollo Global Management (APO) may be willing to provide financing for the Twitter purchase, according to sources who spoke to CNBC. However, the private equity firm is not interested in joining other firms in a takeover offer.
J. B. Hunt Transportation (JBHT) – JB Hunt reported quarterly earnings of $2.29 per share, beating the consensus estimate of $1.94 per share. Revenue also beat Street’s forecasts. The trucking company said it faced job challenges due to Covid-19, but added that it overcame that hurdle and business improved as the quarter progressed. JB Hunt added 1.5% in premarket trading.