Take a look at the companies that are making headlines even before the bell rings.
Robinhood (HOOD), Coinbase(COIN) -- Premarket trading saw shares of Coinbase and the retail trading app for cryptocurrency fell after China indicated that it would be intensifying its crypto-crime crackdown. The country's central bank said Friday that all cryptocurrency-related activities are illegal. Coinbase shares fell by more than 3.6%, while Robinhood shares dropped by 2%.
Roku (ROKU), shares fell in premarket trades after Wells Fargo downgraded Roku from overweight to equal weight. In a note, the investment firm stated that Wall Street's expectations for Roku’s revenue growth will likely be too high due to increased competition. Roku shares were down 2.3%
Nike (NKE). The stock of the apparel giant was under pressure Friday after Nike reduced its revenue forecasts because of supply chain problems. According to the company, full-year sales growth is expected to be in the middle-single digits by 2022 fiscal year. This is down from the previous forecast of low double-digit growth. Premarket trading saw Nike shares fall by more than 4%
After Nike's guidance cut, Under Armour (UAA), the athletic apparel retailer fell in premarket trade. Premarket trading saw shares of Under Armour fall by more than 2%
Costco (COST), The retailer beat expectations in the fourth quarter's fiscal report. It released its quarterly results on Thursday afternoon. The adjusted earnings per share of the company were $3.90, exceeding expectations by $3.57. Net sales increased more than 17% year-over-year. Premarket trading was slightly better for the stock.
Merck (MRK), the pharmaceutical giant, and AstraZeneca announced Friday morning that Lynparza, a drug used to slow the progression of prostate carcinoma, was approved in a phase 3 trial. Merck shares rose by more than 1% during premarket trading
Cheesecake Factory (CAKE), Dave & Buster's(PLAY) Restaurant stocks rose slightly in premarket trade after Jefferies upgraded their stocks to buy from maintain. According to the firm, full-service restaurants have been able to maintain their traffic despite the introduction of the delta version.
