Check out the companies that are making news.
Lowe's rose 2.5% in the premarket after beating estimates on the top and bottom lines and raising its annual revenue forecast. The home improvement retailer earned an adjusted $2.73 per share for the third quarter, 37 cents above estimates, with comparable store sales up 2%. Comp sales were expected to decline.
Target reported an adjusted quarterly profit of $3.03 per share, beating consensus estimates by 20 cents, with revenue also above Street projections. The increase in comparable store sales was more than the increase that was expected. The retailer's shares fell 2% before the market opened.
The drug makers signed contracts to sell about $1 billion worth of their Covid-19 treatment to the U.S. government. The government has the option to purchase additional doses through March 2022. Glaxo was down in premarket trading, but Vir's stock was up.
The exercise of options resulted in the sale of another 970 million shares of stock by Musk to cover the tax bill. In premarket action, the price of the company rose.
Rivian added 1.6% in the premarket and has yet to experience a losing session since going public last week. Rivian has been up about 15% in each of the past two days and closed Tuesday at $172.01.
The electric vehicle maker rose another 10.3% in the premarket. Yesterday's rally came after Lucid said it was seeing significant demand for its model.
The furniture maker beat estimates with a quarterly profit of 85 cents per share. The company said that it has been impacted by supply chain disruptions, but that it still sees strong consumer demand.
The China-based e-commerce company benefited from stronger ad sales as well as strength in cloud and artificial intelligence products, as it beat estimates on the top and bottom lines for its latest quarter. The premarket had a 1.2% increase.
Deere workers will vote on a tentative contract offer today, after rejecting two previous tentative pacts. The workers went on strike.
The Pfizer/BioNTech Covid-19 booster dose for all adults will be reviewed quickly by the FDA. The New York Times is reporting that a decision could be made as soon as Thursday. Pfizer gained 0.7% in the premarket.
Moffett Nathanson lowered its rating on the stock to "sell" from "neutral" due to the fact that signs of slowing revenue growth for the video streaming device maker have become more obvious. The shares fell in premarket trading.
