Take a look at some of the biggest movers in the premarket:
Under Armour (UAA) – Under Armour shares jumped 4.5% in the premarket, after the athletic apparel maker beat estimates on the top and bottom lines and the company raised its full-year forecast. Under Armour reported quarterly earnings of 24 cents per share, compared to a consensus estimate of 6 cents a share.
Translate Bio (TBIO) – French drugmaker Sanofi (SNY) agreed to buy the U.S.-based biotech company for $3.2 billion, or $38 per share in cash. Translate Bio specializes in mRNA technology, the type that was used to produce the Pfizer and Moderna Covid-19 vaccines. Translate Bio shares soared 29.6% in premarket trading.
Clorox (CLX) – Clorox tumbled 8.6% in premarket action after the household products maker missed top and bottom line estimates for its latest quarter. Clorox's sales fell from a year ago, when consumers stocked up on its products amid the surging pandemic.
Eli Lilly (LLY) – The drugmaker's shares lost 1.7% in premarket trading, after falling 2 cents a share shy of estimates, with quarterly earnings of $1.87 per share. Revenue beat forecasts, but Lilly's overall results were impacted by weaker sales of Covid-19 therapies as more Americans got vaccinated.
Marriott (MAR) – The hotel operator's stock gained 1.8% in premarket trading after it reported quarterly earnings of 79 cents per share, compared to a 45 cents a share consensus estimate. Revenue more than doubled from a year ago thanks to a rebound in travel demand, though it did fall slightly short of Wall Street forecasts.
Take-Two Interactive (TTWO) – Take-Two lost 4.3% premarket trading after issuing a weaker-than-expected outlook and announcing delays in new releases for some of its games. The video game producer beat estimates by 12 cents a share, with quarterly profit of $1.01 per share. Take-Two's revenue also topped Wall Street forecasts.
BP (BP) – BP surged 6.3% in premarket trading after it reported better-than-expected quarterly profit and revenue, thanks to higher oil and gas prices. The energy producer also announced a 4% dividend hike and a boost to its share buyback program.
Stellantis (STLA) – Stellantis raised its full-year profit margin outlook after the automaker reported strong first-half financial results, boosted by record margins in North America. The upbeat results came despite the impact of the global chip shortage which cut production by 700,000 vehicles. The stock rallied 5.3% in the premarket.
Micron Technology (MU) – Micron instituted its first-ever dividend, with the chip maker planning to pay 10 cents per share in cash payable on October 18. Micron also said it had updated its share buyback policy to buy more when prices are low and fewer when prices are high. Micron shares gained 1.9% in the premarket.
Simon Property Group (SPG) – Simon Property shares rose 2.8% in premarket trading after it said sales at its shopping centers returned to pre-pandemic levels in June. The largest U.S. mall owner is hoping the improved results encourage retailers to sign new leases and help it fill space vacated during the pandemic.
SolarEdge Technologies (SEDG) – SolarEdge reported better-than-expected earnings and revenue for its latest quarter, with the solar energy company also providing an upbeat current-quarter forecast. SolarEdge surged 11.4% in the premarket.
Reynolds Consumer Products (REYN) – Reynolds beat estimates by a penny a share, with quarterly earnings of 39 cents per share. Revenue fell short of Street forecasts, however. The maker of products like Hefty garbage bags and Reynolds Wrap said it was pleased with the results in the face of higher input costs supply chain issues. Reynolds lost 3.6% in premarket action.