October 02, 2022
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FireNews : Stocks making the biggest moves in the premarket: Peloton, Novavax, Harley-Davidson and more #FireNews365


Take a look at some of the biggest movers in the premarket:

Peloton (PTON) – Peloton CEO John Foley will be stepping down. The fitness equipment maker will also slash about 2,800 jobs or about 20% of its corporate staff and also cut $800 million in annual costs. Foley’s replacement will be former Spotify and Netflix CFO Barry McCarthy. Peloton tumbled 8.4% in premarket trading.

Novavax (NVAX) – Novavax sank 6.7% in the premarket after Reuters reported that the drugmaker has delivered only a small fraction of the 2 billion Covid-19 vaccine doses it had planned to send around the world.

Pfizer (PFE) – Pfizer shares fell 3.8% in the premarket after reporting a revenue miss for its latest quarter and issuing a weaker-than-expected full-year forecast. Pfizer reported better-than-expected earnings for the fourth quarter, however, and also raised its full-year forecast for sales of its Covid-19 vaccine.

Harley-Davidson (HOG) – Harley shares surged 8.3% after the motorcycle maker reported an unexpected profit for its latest quarter as well as better-than-expected revenue. Harley earned 14 cents per share, compared to forecasts of a 38 cents per share loss, as demand jumped for its more expensive motorcycles.

Chegg (CHGG) – Chegg rallied 5.8% in the premarket after the online education services company reported better-than-expected profit and revenue for its latest quarter. Chegg beat estimates by 4 cents a share, with quarterly profit of 38 cents per share. The company also issued a better-than-expected outlook.

Carrier Global (CARR) – The maker of heating and cooling equipment beat estimates by 5 cents a share, with quarterly earnings of 44 cents per share. Revenue also topped Wall Street forecasts. Carrier stock added 1.3% in the premarket.

Take-Two Interactive (TTWO) – The video game maker’s stock fell 2.1% in premarket trading after it issued a weaker-than-expected outlook. Take-Two also missed estimates for “net bookings” for its most recent quarter, representing sales of products and services digitally and in stores.

Nvidia (NVDA) – Nvidia will not go ahead with its $66 billion purchase of Softbank’s chip designer Arm. The two companies said the deal – which would have been the largest chip industry deal ever – faced “significant regulatory challenges.” Softbank said it would now plan to take Arm public. Nvidia fell 2% in premarket action.

Velodyne Lidar (VLDR) – Velodyne Lidar shares rocketed 38.5% in the premarket after the maker of sensors for autonomous driving said it would issue a warrant for an Amazon.com (AMZN) subsidiary to buy about 39.6 million shares.

Just Eat Takeaway (GRUB) – Just Eat Takeaway will be delisting from the Nasdaq, with the Grubhub parent citing low Nasdaq trading volumes and a low proportion of the company’s share value held on Nasdaq. The meal delivery service’s stock will continue to trade on the Amsterdam and London stock exchanges. The stock fell 3.2% in premarket trading.

Guess (GES) – Activist investor Legion Partners Asset Management is calling for the removal of Guess co-founders Paul and Maurice Marciano from the apparel maker’s board, according to a letter seen by The Wall Street Journal. The firm argues that sexual misconduct allegations against Paul Marciano are threatening the company’s turnaround efforts. Guess gained 1.4% in the premarket.

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