Walgreens, Baidu, Novavax and others

Walgreens, Baidu, Novavax and others

Try the businesses making headlines earlier than the bell:

Walgreens (WBA) – The drug retailer operator reported an adjusted quarterly revenue of $1.59 per share, 19 cents above estimates, with income additionally topping Wall Avenue forecasts. Comparable pharmacy gross sales rose 7.3%, helped by demand for Covid vaccines. Walgreens shares initially rose within the premarket however misplaced their positive factors and dipped unfavourable.

Baidu (BIDU) – Baidu misplaced 2.2% in premarket buying and selling after the SEC added the search engine firm to its record of U.S.-traded China shares that could possibly be delisted if they do not permit American regulators to evaluate three years’ value of economic audits. On-line leisure firm iQYI (IQ) was additionally added to that record, with its shares sliding 6.6%.

Novavax (NVAX) – The drug maker’s shares gained 1.3% in premarket buying and selling after it requested EU regulators to clear its Covid-19 vaccine to be used in youngsters.

Superior Micro Gadgets (AMD) – Superior Micro Gadgets was downgraded to “equal weight” from “overweight” at Barclays, which factors to cyclical threat in a number of completely different finish markets for the semiconductor maker. AMD fell 2.2% in premarket motion.

HP Inc. (HPQ), Dell Applied sciences (DELL) – Morgan Stanley downgraded each pc tools makers, predicting firms will shift spending away from {hardware} as a consequence of macroeconomic uncertainty. HP was lower to “underweight” from “equal-weight” whereas Dell was lower to “equal-weight” from “overweight.” HP fell 4.5% in premarket buying and selling, whereas Dell misplaced 2.6%.

Kinross Gold (KGC) – The gold mining firm is in talks to promote a Russian mine to Russia-backed funding agency Fortiana Holdings, based on individuals aware of the matter who spoke to The Wall Avenue Journal. It could be the primary sale of an asset left behind in Russia by a Western firm.

Amylyx Prescribed drugs (AMLX) – An FDA panel voted in opposition to recommending the approval of an experimental ALS drug developed by Amylyx. The panel stated research knowledge didn’t show that the drug was efficient in combating the illness. Amylyx erased early premarket losses to rise by 2.5%.

Robinhood Markets (HOOD) – Robinhood received a positive ruling in a Massachusetts case, with a decide deciding the state overstepped its authority in adopting a brand new fiduciary commonplace for brokerages working within the state. The brokerage agency had been accused by regulators of encouraging its prospects to take undue dangers.

Expensify (EXFY) – Expensify tumbled 14.3% within the premarket after the web expense administration firm reported a lower-than-expected quarterly revenue and issued a weaker-than-expected income forecast for the present quarter.

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