See the companies making the headlines before the bell rings:
Ulta Beauty (ULTA) – Ulta Beauty announced that CEO Mary Dillon will step down in June to be replaced by company president David Kimbell. Dillon will take over as CEO. Separately, the cosmetics retailer beat estimates in its latest quarter results, but cut its like-for-like sales outlook for fiscal 2021. Ulta lost 8.2% in premarket operations.
Poshmark (POSH) – Poshmark posted better-than-expected sales for its latest quarter, but the online thrift retailer issued a forecast for the current quarter that was below analyst estimates. Its shares fell 12.3% in pre-market share.
Novavax (NVAX) – Novavax shares soared 16.5% pre-market after the drugmaker said its Covid-19 vaccine was effective at high levels against both the original strain of the virus and the variant. from United Kingdom.
DocuSign (DOCU): DocuSign beat estimates by 15 cents with an adjusted quarterly profit of 37 cents a share, and the electronic signature company’s revenue also beat analyst forecasts. It also issued a better-than-expected outlook, but the stock fell 4% in pre-market trading.
Sanofi (SNY), Translate Bio (TBIO) – Drug makers began a human trial for their second Covid-19 vaccine project, following a delay in their first vaccine last year. This vaccine is based on messenger RNA technology and the two companies expect the results of the interim study in the third quarter. Translate Bio’s shares were up 5.1% pre-market.
Alibaba (BABA) – Alibaba faces a possible record fine from China’s antitrust regulators, according to people with knowledge of the matter who spoke to the Wall Street Journal. The newspaper said the fine could exceed the $ 975 million that chipmaker Qualcomm paid in 2015 as regulators pressure Alibaba to disassociate itself from founder Jack Ma and align more closely with the Communist Party. Shares of the e-commerce giant fell 2.1% in pre-market action.
Netflix (NFLX): Netflix is testing a new feature to limit password sharing, with some users receiving a request to confirm that they live in the same household as the account holder. Research firm Magid has estimated that around a third of Netflix users share their passwords. Netflix was down 1.2% pre-market.
Verizon (VZ) – Verizon launched a $ 25 billion debt sale to help fund its $ 45 billion purchase of wireless spectrum that will be used to expand next-generation 5G mobile service. MarketWatch reports that demand was extremely strong for the sale, with more than four times as many subscriptions at one time.
Aegion (AEGN): Aegion is the subject of a tender between New Mountain Capital (NMFC) and Apollo Global (APO). Apollo has bid for the pipeline services company between $ 26 and $ 30 a share, according to a Bloomberg report, topping the deal Aegion signed with New Mountain last month by $ 26 a share. Aegion was up 11.5% pre-market, while Apollo was up 2.4%.
Buckle (BKE) – The fashion accessories retailer reported quarterly earnings of $ 1.33 per share, 7 cents above estimates, with revenue in line with Wall Street forecasts. Comparable store sales increased 18% compared to the prior year, and online sales increased 81.5%.
Coherent (COHR) – The bidding battle to buy the laser technology and laser manufacturer continues with Coherent saying that the latest offering from the II-VI (IIVI) optoelectronic component manufacturer is superior to Lumentum’s latest offering (LITE). Bidders have come and gone multiple times, with II-VI’s latest offering consisting of $ 195 per share in cash and one Lumentum share for every Coherent share. Coherent was up 2.1% pre-market, while II-VI fell 1.6%.
Vail Resorts (MTN) – The resort operator beat Wall Street forecasts for both top revenue and bottom line results in its latest earnings report, despite Vail being forced to operate at reduced capacity due to the pandemic . Vail said viewing trends improved during the quarter and the stock was up 9.7% pre-market.