Take a look at some of the biggest movers in the premarket:
Walt Disney (DIS) – Disney said its Disney+ streaming service now has 86.8 million subscribers, a number it says could grow to 260 million by 2024. The company said over the past 2 months, the service has added more than 13 million subscribers. The company shares jumped 8% in premarket trading.
Qualcomm (QCOM) – Apple (AAPL) has begun building its own cellular modem to be used in future devices, according to a Bloomberg report quoting Apple senior VP of hardware technologies Johny Srouji. Such a move would replace components currently made by Qualcomm. Qualcomm shares fell 3.8% in the premarket.
Nio (NIO) – The China-based electric car maker plans to sell up to 69 million new U.S. shares to raise capital. That follows similar moves by Tesla (TSLA) and other electric vehicle companies. Nio shares were down 5.5% in premarket trading.
Lululemon (LULU) – Lululemon earned $1.16 per share for its latest quarter, compared to a consensus estimate of 88 cents a share. The athletic apparel maker's revenue came in above estimates as well. Lululemon also raised its holiday quarter revenue and profit outlook. The company's shares were off 1.4% in premarket trading.
Costco (COST) – Costco beat estimates by 24 cents a share, with quarterly earnings of $2.29 per share. The warehouse retailer's revenue also exceeded Wall Street forecasts. Comparable sales jumped 15.4% as the pandemic fueled demand for groceries and other items.
Oracle (ORCL) – Oracle came in 6 cents a share above consensus, with quarterly profit of $1.06 per share. The business software giant's revenue matched Street projections. The jump in remote work helped fuel demand for cloud-related offerings.
Broadcom (AVGO) – Broadcom reported quarterly earnings of $6.35 per share, 10 cents a hare above estimates. The chip maker's revenue came in slightly above consensus as well. Broadcom also issued a cautious outlook, however. Broadcom shares slid nearly 2% in the premarket.
Pfizer (PFE), BioNTech (BNTX) – Pfizer and BioNTech's Covid-19 vaccine was endorsed for emergency use by a panel of outside advisers to the Food and Drug Administration, putting it on course for approval by the FDA within days. The FDA issued a statement saying it would "rapidly work" toward a decision on the emergency use authorization. Separately, Pfizer announced it was increasing its quarterly dividend by 1 cent to 39 cents per share. Shares of Pfizer were up nearly 1.9% in the premarket.
Ferrari (RACE) – Ferrari Chief Executive Officer Louis Camilleri has stepped down, citing personal reasons. Chairman John Elkann will lead the luxury carmaker on an interim basis.
Sanofi (SNY), GlaxoSmithKline (GSK) – The two drugmakers will conduct further tests on their Covid-19 vaccine candidate after trials showed disappointing results in older patients. Shares of both companies were down slightly in premarket trading.
Vail Resorts (MTN) – The resort operator reported a quarterly loss of $3.82 per share, wider than the loss of $3.54 a share that analysts were predicting. Revenue also came in short of estimates. The company's results were impacted by capacity limitations and closures prompted by the Covid-19 pandemic. Vail shares were up 1.8% in the premarket.