See the companies that appear in the headlines before the bell:
Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in pre-marketing after agreeing to be acquired by Bristol Myers Squibb (BMY) for $ 76 per share in cash, or $ 4.1 billion. Turning Point specializes in the treatment of cancer.
Lululemon (LULU) – Lululemon shares rose 1% in pre-market trading after the sportswear and leisurewear maker reported better-than-expected quarter and raised its full-year forecast. Lululemon surpassed estimates by 5 cents with a quarterly earnings of $ 1.48 per share, amid continuing strong demand for premium sportswear.
RH (RH) – RH fell 4% on trailers after luxury home goods company posted lower-than-expected revenue forecasts for the full year. RH reported better-than-expected earnings and sales for the last quarter and announced an expansion of its $ 2 billion share repurchase program.
CrowdStrike (CRWD) – CrowdStrike fell 4.3% during pre-sales action, although the cybersecurity company posted better-than-expected results for its last quarter and issued an optimistic forecast. Shares of CrowdStrike rose 7.8% on the Thursday before the earnings report.
Kohl’s (KSS) – Kohl’s shares rose 7.3% in pre-market trading after the Wall Street Journal reported that the retailer had received takeover bids from private investment firm Sycamore Partners and retail holding company Franchise Group . Sycamore’s offer is said to estimate Kohl’s price at mid-$ 50 per share, while the Franchise Group is offering around $ 60. Kohl’s closed on Thursday at $ 41.18.
Tesla (TSLA) – Tesla shares fell 4.7% in the pre-market after a report that CEO Elon Musk ordered an immediate freeze on hiring and a 10% reduction in staff. The order came in a note seen by Reuters, which quoted Musk as saying he felt “super bad” about the economy.
Coinbase (COIN) – Coinbase extends the rental freeze and cancels some job offers that have been accepted. The cryptocurrency exchange operator said in a blog post that it would pause hiring “as far as this macro environment requires”. Coinbase fell 3.7% in pre-market trading.
Alaska Air (ALK) – The airline raised its revenue forecast for the current quarter, saying it has steadily strong demand. Alaska Air also said higher revenues offset higher fuel costs. Shares added 1% to premarkets.
Okta (OKTA) – Shares of the identity management software company rose 15.6% in the pre-market after better-than-expected results for its first fiscal quarter. Okta said he saw no impact from a breach in the security of his systems in March, or from macroeconomic conditions. The jump in shares of Okta before the market was followed by nearly 11% profit on trading on Thursday.
Chegg (CHGG) – Shares of the education technology company rose 6.3% in pre-market trading after announcing a $ 1 billion increase in its share repurchase program.
PagerDuty (PD) – The cloud computing company reported better-than-expected revenue for the last quarter and lower-than-expected loss. The company also expects to report annual profits next year. PagerDuty added 3.2% to premarkets.
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