Shares Making The Largest Strikes Earlier than The Market: Moderna, Energizer Holdings, Alibaba, Nike & Extra
Medical syringes can be seen with the Moderna company logo displayed on a screen in the background in this illustration photo taken in Poland on October 12, 2020.
Jakub Porzycki | NurPhoto | Getty Images
Check out the companies that are making the headlines before the bell:
Energizer Holdings (ENR) – – The maker of batteries and other consumer goods reported adjusted quarterly earnings of 59 cents per share, which was below the consensus estimate of 81 cents. While Energizer's sales exceeded estimates, the company said it incurred higher COVID-related costs to meet the needs of its customers and employees. Energizer also announced a 7.5 million share buyback program. Separately, Energizer announced that CEO Alan Hoskins will retire on January 1st and will be replaced by current President / COO Mark LaVigne. The share lost 4.6% in premarket trading from 7:35 a.m.CET.
Edgewell Personal Care (EPC) – – The maker of razors and other personal care products beat estimates by 2 cents on adjusted quarterly earnings of 59 cents per share, with estimates also beating sales. The company, which stands behind brands such as Schick, Wilkinson, Edge and Playtex, expects a mid-single-digit increase in sales for the 2021 financial year.
Moderna (MRNA) The drug company said it had enough data from a late-stage study of its COVID-19 vaccine candidate to begin a planned interim analysis. Moderna did not specify when data on the effectiveness of the vaccine should be released. The shares rose 3% in premarket trading from 7:35 a.m. CET.
Alibaba (BABA) – Alibaba reported record Singles Day sales of around $ 75 billion, with the event actually stretching over several days this year. Alibaba stock has come under pressure amid concerns about new regulations for tech companies and the postponement of Alibaba's subsidiary Ant Group.
Nike (NKE) – – Nike was rated as "above average" in the new reporting by RBC Capital Markets. The company names the athletic footwear and apparel maker "World's Best Sports Game in its Class" and predicts a faster-than-expected recovery from COVID-related disorders.
Jaws Acquisition (JWS) – Jaws Acquisition merges with primary care medical center operator Cano Health and takes it public in a deal that valued Cano at $ 4.4 billion. Jaws Acquisition is a special purpose vehicle supported by the founder of Starwood Capital Group, Barry Sternlicht.
Brookfield Asset Management (BAM) – – The alternative asset management company reported quarterly funds from operations of 65 cents per share, compared to a consensus estimate of 48 cents, with revenue also beating projections. Brookfield also intends to pay a special dividend in the form of a newly created entity called BAM Reinsurance, valued at 33 cents per share.
Salesforce.com (CRM) – – The business software giant has been downgraded from "overweight" to "even" at Morgan Stanley as the dynamics of the company's subscription model could put short-term pressure on profits and free cash flow. The share lost 2% in premarket trading from 7:35 a.m.CET.
Wells Fargo (WFC) Wells Fargo is considering sales of its private label credit card unit, according to those aware of the matter who spoke with Bloomberg. Wells Fargo is said to have started reaching out to potential bidders directly.
Qiagen (QGEN) – Qiagen announced it will sell a portable COVID-19 test in the US that can process up to 30 swab samples in 15 minutes.
Vroom (VRM) – Vroom posted a smaller-than-expected loss in the final quarter, with the online used car dealer also posting better-than-expected sales. However, the company gave a weaker than expected forecast for the current quarter and expected losses to widen. Shares fell 11% from 7:35 a.m.CET ahead of trading.
Fossil (FOSL) – Fossil stocks rise after the maker of watches, handbags and other luxury goods made a profit in the third quarter thanks to the dynamism of e-commerce and lower costs. The shares gained 25% in premarket trading from 7:35 a.m.CET.
Pinduoduo (PDD) – The China-based e-commerce company posted unexpected profit in the third quarter, as well as better-than-expected revenue, aided by an economic recovery in China.