Check out some of the largest moving companies on the pre-market:
Johnson & Johnson (JNJ) – J&J said a batch of its Covid-19 vaccine, which came from a Baltimore factory, was not up to quality standards and is not being sold. The company said the problem was due to a quality issue with a vaccine manufactured by Emergent BioSolutions (EBS). J&J fell 1.1% before entering the market while Emergent BioSolutions fell 8.5%.
Pfizer (PFE) – New data from drug maker and partner BioNTech (BNTX) showed 91% effectiveness for its Covid-19 vaccine after six months. Pfizer gained 0.3% in premarket trading, while BioNTech gained 1.1%.
CarMax (KMX) – The car dealer reported quarterly earnings of $ 1.27 per share, with revenue largely in line with projections. CarMax also announced that it will acquire the remainder of Edmunds that it did not already own in a cash-and-stock deal that valued the auto information provider at $ 404 million. The CarMax share fell by 3.5% before entering the market.
Micron Technology (MU) – The computer chip maker reported quarterly earnings of 98 cents per share, beating consensus estimates by 3 cents per share. Income was slightly above Wall Street's forecasts. Given the increased demand for semiconductors, the company also issued an optimistic forecast. Separately, the Wall Street Journal reported that Micron is considering a deal for Kioxia that could value the Japanese chip maker at around $ 30 billion. The Micron share rose 4.5% in the pre-market.
Abbott Laboratories (ABT) – The Food and Drug Administration approved Abbott's Rapid Covid-19 Antigen Test for over-the-counter and home use for those without current Covid symptoms. The retail price is still undetermined, but a company spokeswoman told Reuters that the tests will be sold to retailers for less than $ 10 each. At the same time, the FDA approved a home test for Covid-19 conducted by the diagnostic company Quidel (QDEL).
Exxon Mobil (XOM) – The energy giant released data in a filing by the Securities and Exchange Commission indicating the possibility of the company's first profit in five quarters. Raymond James analyst Justin Jenkins said the data points to earnings of $ 2.55 billion, or 60 cents per share, with Exxon benefiting from higher oil and gas prices.
FuboTV (FUBO) – The live streaming sports TV platform announced an agreement to broadcast all overseas televised Chicago Cubs games this season. Before entering the market, the FuboTV share rose by 4.8%.
Nio (NIO) – The China-based electric vehicle maker announced it shipped 7,257 vehicles in March, up 373% from the same month last year. Nio gained 5.8% in premarket trading.
Sherwin-Williams (SHW) – The paint manufacturer's 3-for-1 share split announced on March 2 is effective today. It is the first time since 1997 that Sherwin-Williams has split its stock. Sherwin-Williams gained 1.2% in the pre-market.
Taiwan Semiconductor (TSM) – The semiconductor maker will invest $ 100 billion over the next three years to increase manufacturing capacity at its plants to meet increased demand and global chip shortages. Taiwan Semi gained 2.1% before entering the market.