Biogen, Spirit, Robinhood and more

Biogen, Spirit, Robinhood and more

Take a look at the businesses making headlines earlier than the bell:

Biogen (BIIB) – Biogen fell 1% in premarket buying and selling after the federal government introduced that Medicare will restrict protection for Aduhelm, Biogen’s Alzheimer’s illness remedy. Protection will solely be supplied for sufferers enrolled in scientific trials.

Spirit Airways (SAVE) – Spirit mentioned it is going to start talks with JetBlue (JBLU) about its rival’s $3.6 billion takeover bid. Spirit had agreed earlier this 12 months to be taken over by Frontier Airways dad or mum Frontier Group (ULCC) however mentioned the JetBlue provide might result in a “superior proposal.” Spirit rose 1.4% in premarket buying and selling, whereas JetBlue added 1% and Frontier jumped 2.5%.

Robinhood Markets (HOOD) – The monetary companies and inventory buying and selling platform operator’s inventory slid 4.1% premarket after Goldman Sachs downgraded it to “sell” from “neutral.” Goldman believes consensus estimates for Robinhood are too excessive and it sees a excessive bar for the corporate to realize profitability in 2023.

WD-40 (WDFC) – WD-40 surged 9.5% within the premarket following better-than-expected quarterly earnings and income. The lubricant maker earned $1.41 per share for the quarter, 40 cents above estimates, though it minimize its full-year steering barely as a result of inflationary challenges.

Designer Manufacturers (DBI) – The footwear and equipment retailer raised its full-year earnings outlook and reinstated its quarterly dividend after a two-year pause. The upbeat forecast comes forward of the corporate’s annual investor day. Designer Manufacturers inventory jumped 4.6% within the premarket.

Kroger (KR) – The grocery store operator’s inventory added 2.6% in premarket motion after Financial institution of America Securities upgraded it to “buy” from “neutral.” BofA mentioned elevated meals inflation can be amongst a number of upside earnings drivers.

CrowdStrike (CRWD) – CrowdStrike rallied 3.7% in premarket motion after the cloud computing firm acquired authorization to guard vital belongings of the U.S. Division of Protection.

Workday (WDAY) – The finance and human assets software program firm struck a brand new $1 billion credit score settlement with lenders, changing a previous credit score pact.

PriceSmart (PSMT) – PriceSmart beat estimates by 3 cents with a quarterly revenue of $1.03 per share and the low cost retailer’s income was barely above Wall Avenue forecasts. Merchandise gross sales have been above $1 billion for the primary time ever and membership ranges additionally set a document.

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