Check out the companies that are making news.
The medical technology company's shares declined after it was revealed that it received a warning letter from the Food and Drug Administration about the quality of its medical devices. The revenue expectations for the fiscal third quarter and fiscal 2022.
Eli Lilly's shares jumped more than 9% after the company released updated guidance. The company projected a bigger-than- expected jump in earnings for 2022, according to FactSet.
The steel products company's shares fell more than 9% after it gave fourth-quarter guidance that was below analysts' expectations. The analysts were expecting guidance of $8.18 per share. Nucor said it expects steel products to increase earnings as demand in nonresidential construction markets remain strong, but that raw materials earning would fall due to margin compression at direct reduced iron facilities.
The firm reported monthly metrics that included $3.29 billion in net premiums written, compared with $2.9 billion a year ago. Net premiums earned by Progressive were $3.59 billion, compared to $3.1 billion a year ago.
The International Trade Commission ruled that the streaming brand's products could be banned from being imported after being hit with a patentinfringement ruling. The company told CNBC that it does not anticipate any disruptions in its ability to import products.
Despite a bullish call from Jeffries, shares of the restaurant company reversed a premarket surge and turned lower, sliding more than 4%. The firm named the stock to its franchise picks list, which include its highest conviction buy-rated stocks, saying it would benefit from positive structural changes in the US casual dining category.
The drugmaker's shares jumped after it was announced that the Covid-19 antibody therapy was effective against the omicron variant. The stock is on track to post its fifth straight day of gains.
The shares of the materials suppliers moved after the company agreed to be acquired by another company in a cash-and-stock deal. The stock of CMC soared by more than 28.6%, while the stock of ENTegris fell by 6.2%.
R.R. Donnelley saw its shares fall after it agreed to be acquired by Chatham Asset Management. The deal with Atlas was terminated after it was determined that Chatham's bid was superior.
Bernstein lowered its rating on the stock to a market-perform from an outperform. The company's major drugs face increasing competition, which could affect their sales.
CNBC's Hannah Miao, Pippa Stevens, Jesse Pound, and Yun Li contributed reporting.
