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Walgreens, Baidu, Novavax and others

Try the businesses making headlines earlier than the bell:

Walgreens (WBA) – The drug retailer operator reported an adjusted quarterly revenue of $1.59 per share, 19 cents above estimates, with income additionally topping Wall Road forecasts. Comparable pharmacy gross sales rose 7.3%, helped by demand for Covid vaccines. Walgreens shares initially rose within the premarket however misplaced their features and dipped detrimental.

Baidu (BIDU) – Baidu misplaced 2.2% in premarket buying and selling after the SEC added the search engine firm to its checklist of U.S.-traded China shares that may very well be delisted if they do not enable American regulators to assessment three years’ price of economic audits. On-line leisure firm iQYI (IQ) was additionally added to that checklist, with its shares sliding 6.6%.

Novavax (NVAX) – The drug maker’s shares gained 1.3% in premarket buying and selling after it requested EU regulators to clear its Covid-19 vaccine to be used in youngsters.

Advanced Micro Devices (AMD) – Superior Micro Units was downgraded to “equal weight” from “obese” at Barclays, which factors to cyclical danger in a number of totally different finish markets for the semiconductor maker. AMD fell 2.2% in premarket motion.

HP Inc. (HPQ), Dell Technologies (DELL) – Morgan Stanley downgraded each pc gear makers, predicting firms will shift spending away from {hardware} as a result of macroeconomic uncertainty. HP was minimize to “underweight” from “equal-weight” whereas Dell was minimize to “equal-weight” from “obese.” HP fell 4.5% in premarket buying and selling, whereas Dell misplaced 2.6%.

Kinross Gold (KGC) – The gold mining firm is in talks to promote a Russian mine to Russia-backed funding agency Fortiana Holdings, in keeping with folks accustomed to the matter who spoke to The Wall Road Journal. It might be the primary sale of an asset left behind in Russia by a Western firm.

Amylyx Pharmaceuticals (AMLX) – An FDA panel voted towards recommending the approval of an experimental ALS drug developed by Amylyx. The panel stated examine knowledge didn’t show that the drug was efficient in preventing the illness. Amylyx erased early premarket losses to rise by 2.5%.

Robinhood Markets (HOOD) – Robinhood received a good ruling in a Massachusetts case, with a decide deciding the state overstepped its authority in adopting a brand new fiduciary commonplace for brokerages working within the state. The brokerage agency had been accused by regulators of encouraging its prospects to take undue dangers.

Expensify (EXFY) – Expensify tumbled 14.3% within the premarket after the web expense administration firm reported a lower-than-expected quarterly revenue and issued a weaker-than-expected income forecast for the present quarter.

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