Take a look at some of the biggest movers in the premarket:
Under Armor (UAA) – Under Armor shares rose 4.5% in the premarket after the sportswear maker beat estimates for sales and earnings and the company raised its full-year forecast. Under Armor reported quarterly earnings of 24 cents per share, compared to a consensus estimate of 6 cents per share.
Translate Bio (TBIO) – French drug maker Sanofi (SNY) has agreed to buy the US biotech company for $ 3.2 billion, or $ 38 per share in cash. Translate Bio specializes in the mRNA technology used to manufacture the Pfizer and Moderna Covid-19 vaccines. Translate Bio's stock rose 29.6% in pre-market trading.
Clorox (CLX) – Clorox slumped 8.6% after the household products maker missed its last quarter sales and earnings estimates. Clorox sales declined year over year as consumers stocked up on its products amid the swelling pandemic.
Eli Lilly (LLY) – The drugmaker's shares fell 1.7% in pre-trading hours after falling 2 cents per share below estimates, with earnings of $ 1.87 per share for the quarter. Revenue exceeded forecasts, but Lilly's overall results were hurt by weaker sales of Covid-19 therapies as more Americans were vaccinated.
Marriott (MAR) – The hotel operator's stock rose 1.8% in pre-market trading after reporting quarterly earnings of 79 cents per share, compared to a consensus estimate of 45 cents per share. Revenue more than doubled year-over-year thanks to a recovery in travel demand, but lagged slightly behind Wall Street's forecasts.
Take-Two Interactive (TTWO) – Take-Two lost 4.3% pre-trading after giving a weaker-than-expected outlook and announcing delays in new releases for some of its games. The video game maker beat estimates by 12 cents per share with quarterly earnings of $ 1.01 per share. Take-Two's sales also exceeded Wall Street forecasts.
BP (BP) – BP gained 6.3% in pre-trading after posting better-than-expected quarterly earnings and sales thanks to higher oil and gas prices. The energy producer also announced a 4% dividend increase and an increase in its share buyback program.
Stellantis (STLA) – Stellantis raised its full-year profit margin outlook after the automaker posted strong financial results for the first half, boosted by record margins in North America. The positive results came despite the impact of the global chip shortage, which reduced production by 700,000 vehicles. The share gained 5.3% before the trading session.
Micron Technology (MU) – Micron has launched its very first dividend, with the chipmaker planning to pay 10 cents per share in cash, payable October 18. Micron also said it updated its share buyback policy to buy more when prices are low and less when prices are high. The Micron share gained 1.9% pre-IPO.
Simon Property Group (SPG) – Simon Property shares rose 2.8% in pre-trading hours after sales at their malls returned to pre-pandemic levels in June. The largest malls owner in the US hopes the improved results will encourage retailers to sign new leases and fill in space vacated during the pandemic.
SolarEdge Technologies (SEDG) – SolarEdge reported better-than-expected results and sales for the last quarter, with the solar energy company also giving an optimistic forecast for the current quarter. SolarEdge gained 11.4% in the premarket.
Reynolds Consumer Products (REYN) – Reynolds beat estimates by one cent per share with quarterly earnings of 39 cents per share. However, earnings fell short of Street's forecasts. The maker of products like Hefty Garbage Bags and Reynolds Wrap said it was pleased with the results given the supply chain issues with higher input costs. Reynolds lost 3.6% in the premarket business.