The companies are making news before the bell rings.
The automobile retailer beat estimates by 7 cents with quarterly earnings of 1.56 per share, and revenue that also beat analyst forecasts. CarMax increased in the pre market.
FedEx reported adjusted earnings of $6.87 per share, beating estimates by 1 cent. Increased shipping rates and fuel surcharge offset the decline in shipment volumes. FedEx gave upbeat guidance for the next fiscal year.
According to the Wall Street Journal, a potential deal between Seagen and MRK is moving forward. The stock went up last week after the paper reported that Seagen was in talks with a pharma company.
Reports that the software company is close to a deal with a group of private equity firms sent the stock soaring. According to the Wall Street Journal, Hellman and Friedman are involved. After announcing last week that it had ended efforts to sell itself, there is a chance that the company could be bought out.
Microsoft gained 1.2% in the pre market after it was named a top pick by Citigroup.
Papa stepped down from the board because he didn't want to be involved in a dispute with the health care products maker. The investor will become chairman. There was a jump in premarket trading.
The software company reported an adjusted quarterly loss of 5 cents per share, in line with analyst forecasts. Growth in cybersecurity and auto products helpedBlackBerry's results. The stock was up 1% before the market opened.
The online lender fell in premarket trading after cutting its guidance. Higher interest rates and inflationary factors were pointed out by Lending Tree.
Wolfspeed was upgraded to "BUY" from "neutral" at Goldman Sachs, which said the stock's risk-reward profile is now much more attractive given a recent decline. Wolfspeed was up 4.1% before the market opened.
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