Check out the companies that make the headlines before the doorbell rings:
Merck (MRK) – Merck stock rose 7.5% in the premarket after it was announced that its experimental Covid-19 pill reduced the risk of late-stage death and hospitalization by 50%. Merck plans to apply for emergency approval as soon as possible.
Lordstown Motors (RIDE) – Lordstown has reached an agreement to sell its Ohio facility to Taiwanese company Foxconn for $ 230 million, with Foxconn manufacturing Lordstown's full-size electric pickup truck. Earlier this week it was reported that a deal was near between the two sides. Lordstown was up 6.3% in pre-trading.
Coty (COTY) – The cosmetics company's stock rose 2% in the premarket when it announced a deal to sell an additional 9% stake in its Wella beauty business to private equity firm KKR (KKR). In return, KKR will buy back approximately half of its remaining convertible preference shares in Wella, reducing Coty's stake to approximately 30.6%. Coty had sold 60% of the shares in Wella to KKR last December.
Zoom Video Communications (ZM) – Zoom and Five9 (FIVN) have mutually agreed to close a nearly $ 15 billion deal. Zoom had made a deal to buy the contact center operator, but it was rejected by Five9 shareholders. The two sides will continue a partnership that existed prior to the proposed transaction. Zoom rose 4% in the premarket while Five9 was down 1.4%.
Walt Disney (DIS) – Disney and Scarlett Johansson have settled a lawsuit over the film "Black Widow". Johansson had sued Disney for releasing the film on the Disney + streaming service when it was simultaneously appearing in theaters. The terms of the settlement were not disclosed.
Wells Fargo (WFC) – Wells Fargo is facing a shareholder fraud lawsuit aimed at recovering from years of scandals. A judge dismissed the bank's motion to dismiss the lawsuit, saying it was plausible that the statements made by various Wells Fargo officials about the recovery were false or misleading.
Exxon Mobil (XOM) – Exxon Mobil said in an SEC filing that higher oil and gas prices could add up to $ 1.5 billion to earnings in the third quarter. Exxon's profits have improved amid rising prices as well as the energy giant’s cost reductions.
Nio (NIO) – Nio reported deliveries of 10,628 vehicles in September, up 126% year over year for the China-based electric vehicle maker. Nio gained 1.8% in the premarket.
International Flavors (IFF) – The food flavor and cosmetic ingredient maker said chairman and chief executive officer Andreas Fibig plans to retire, although he will remain at the helm until a successor is found. The shares gained 2.5% in the pre-listing measures.
Jefferies Financial Group (JEF) – Jefferies reported quarterly earnings of $ 1.50 per share, beating the consensus estimate of 99 cents, with the financial services company's revenue also beating Wall Street projections. Jefferies saw its results enhanced by a strong performance in the investment banking business. Jefferies was up 1.4% before the IPO.
MGM Resorts (MGM) – Susquehanna Financial downgraded MGM from “neutral” to “negative”, saying DraftKings (DKNG) offer for UK gaming company Enttain will weaken MGM's prospects in the digital gaming and betting market.