Stocks that make the biggest moves ahead of the market: Ulta, Poshmark, Novavax, and others
Check out the companies that are making the headlines before the bell:
Ulta Beauty (ULTA) – Ulta Beauty announced that CEO Mary Dillon will step down in June to be replaced by company president David Kimbell. Dillon will take on the role of Chairman of the Board. Regardless, the cosmetics retailer topped and bottomed last quarter estimates, but lowered its comparable revenue outlook for fiscal 2021. Ulta lost 8.2% in premarket retail.
Poshmark (POSH) – Poshmark reported better-than-expected sales for the last quarter, but the online used goods retailer released a forecast for the current quarter that fell short of analysts’ estimates. The stock fell 12.3% before entering the market.
Novavax (NVAX) – Novavax shares rose 16.5% ahead of market entry after the drug maker said its Covid-19 vaccine was effective against both the original strain of the virus and the British variant in high concentrations.
DocuSign (DOCU) – DocuSign beat estimates 15 cents with adjusted quarterly earnings of 37 cents per share, and the company’s electronic signature revenue also exceeded analysts’ forecasts. It also gave a better than expected outlook, but stocks fell 4% in premarket trading.
Sanofi (SNY), Translate Bio (TBIO) – The drug makers began a human study for their second Covid-19 vaccine project after their first vaccine was delayed last year. This vaccine is based on Messenger RNA technology and the two companies expect interim results in the third quarter. Translate Bio’s shares rose 5.1% prior to entering the market.
Alibaba (BABA) – According to people with knowledge of the matter who spoke to the Wall Street Journal, Alibaba may face a record fine from China’s antitrust authorities. According to the newspaper, the fine could exceed the $ 975 million that chipmaker Qualcomm paid in 2015 as regulators urge Alibaba to distance itself from founder Jack Ma and to coordinate more closely with the Communist Party. The shares of the e-commerce giant fell 2.1% in the pre-market.
Netflix (NFLX) – Netflix is testing a new feature to restrict password sharing. Some users will receive a request to confirm that they live in the same household as the account owner. Research firm Magid has estimated that around a third of Netflix users share their passwords. Netflix was down 1.2% before entering the market.
Verizon (VZ) – Verizon has launched a $ 25 billion debt sale to fund the purchase of $ 45 billion in radio spectrum to expand next-generation 5G cellular service. MarketWatch reports that the demand for the sale was extremely strong, oversubscribed more than four times at one point.
Aegion (AEGN) – Aegion is the subject of a competition between New Mountain Capital (NMFC) and Apollo Global (APO). According to a Bloomberg report, Apollo made an offer for the pipeline services company between $ 26 and 30 per share, beating the deal Aegion made with New Mountain last month for $ 26 per share. Aegion was up 11.5% before entering the market, while Apollo was up 2.4%.
Buckle (BKE) – The fashion accessories retailer reported quarterly earnings of $ 1.33 per share, 7 cents above estimates, with sales in line with Wall Street projections. The comparable store sales increased by 18% compared to the previous year, the online sales by 81.5%.
Coherent (COHR) – The competition for the manufacturer of lasers and laser technology continues. Coherent says optoelectronic component maker II-VI (IIVI )’s latest offering is superior to Lumentum’s latest offering (LITE). The bidders have gone back and forth several times, with II-VI’s most recent offering being $ 195 per share in cash and one Lumentum share for each Coherent share. Coherent before entering the market rose 2.1% while II-VI fell 1.6%.
Vail Resorts (MTN) – The resort operator beat Wall Street’s predictions for both profit and profit in its latest earnings report, despite the pandemic forced Vail to operate at reduced capacity. Visiting trends improved over the quarter, according to Vail, and stocks rose 9.7% before the IPO.