Under Armor, Translate Bio, Clorox and more
Take a look at some of the biggest drivers in the premarket:
Under Armor (UAA) – Under Armor shares jumped 4.5% pre-market, after the sportswear maker topped earnings estimates and the company raised its full-year forecast . Under Armor reported quarterly earnings of 24 cents per share, against a consensus estimate of 6 cents per share.
Translate Bio (TBIO) – French drugmaker Sanofi (SNY) has agreed to buy the US-based biotech company for $ 3.2 billion, or $ 38 per share in cash. Translate Bio specializes in mRNA technology, the type that has been used to produce the Pfizer and Moderna Covid-19 vaccines. Shares of Translate Bio climbed 29.6% in pre-market.
Clorox (CLX) – Clorox fell 8.6% in pre-market share after the household products maker missed earnings estimates for its final quarter. Sales of Clorox have fallen from a year ago, when consumers stocked up on its products amid the outbreak of the pandemic.
Eli Lilly (LLY) – Shares of the drugmaker were down 1.7% in pre-market trading, after falling 2 cents per share below estimates, with quarterly profit of $ 1.87 per share. Revenue exceeded expectations, but Lilly’s overall results were affected by declining sales of Covid-19 therapies as more Americans were vaccinated.
Marriott (MAR) – The hotel operator’s share gained 1.8% in pre-market trading after posting quarterly profit of 79 cents per share, against a consensus estimate of 45 cents per share. Revenue more than doubled from a year ago thanks to a rebound in travel demand, although it was slightly lower than Wall Street forecast.
Take-Two Interactive (TTWO) – Take-Two lost 4.3% of pre-market trade after posting weaker-than-expected outlook and announcing delays in new releases of some of its games. The video game producer broke estimates by 12 cents per share, with quarterly profit of $ 1.01 per share. Take-Two’s earnings also exceeded Wall Street forecasts.
BP (BP) – BP jumped 6.3% in pre-market trading after posting better-than-expected quarterly earnings and earnings, thanks to rising oil and gas prices. The energy producer also announced a 4% increase in its dividend and a boost to its share buyback program.
Stellantis (STLA) – Stellantis raised its full-year profit margin outlook after the automaker reported strong first-half financial results, driven by record margins in North America. The good results came despite the impact of the global chip shortage which reduced production by 700,000 vehicles. The stock was up 5.3% on the pre-market.
Micron Technology (MU) – Micron has instituted its first-ever dividend, with the chipmaker planning to pay 10 cents per share in cash payable on October 18. Micron also said it has updated its share buyback policy to buy more when prices are low and less when prices are high. Micron shares gained 1.9% in pre-letting.
Simon Property Group (SPG) – Shares of Simon Property rose 2.8% in pre-market trading after it said sales at its malls returned to pre-pandemic levels in June. America’s largest mall owner hopes the improved results will encourage retailers to sign new leases and help fill vacant spaces during the pandemic.
SolarEdge Technologies (SEDG) – SolarEdge reported better-than-expected earnings and revenue for its final quarter, with the solar power company also providing bullish guidance for the current quarter. SolarEdge jumped 11.4% in pre-release.
Reynolds Consumer Products (REYN) – Reynolds beat estimates of a dime a share, with quarterly profit of 39 cents a share. However, revenues were lower than Street expected. The maker of products such as the Hefty and Reynolds Wrap garbage bags has expressed satisfaction with the results in the face of supply chain issues of higher input costs. Reynolds lost 3.6% in the pre-market share.