Market Insider

Stocks making the biggest moves premarket: Affirm, Toyota, Endo, Bausch Health and others

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News Update – Pre-Markets

Check out the companies making headlines before the bell:

Affirm Holdings (AFRM) – Affirm soared 22.4% in the premarket as the "buy now, pay later" company's revenue easily topped estimates. Active merchant numbers more than quintupled and Affirm issued a positive outlook as well.

Toyota Motor (TM) – The automaker cut its annual production target by 300,000 vehicles as factories in Vietnam and Malaysia were hit by the spread of Covid-19 and the ongoing computer chip shortage. Toyota gained 1.1% in the premarket.

Endo International (ENDP) – Endo surged 19.1% in premarket action after it agreed to pay $50 million to resolve lawsuits by New York State and two counties over the drug maker's sale and marketing of opioids.

Bausch Health (BHC) – Bausch Health will pay $300 million to settle an antitrust lawsuit involving the company's diabetes drug Glumetza. Bausch had been accused of illegally maintaining a monopoly on the treatment, with the price increasing nearly 800% in 2015.

Wells Fargo (WFC) – Wells Fargo was fined $250 million by regulators who said the bank has not made sufficient progress in solving ongoing issues in its mortgage business. Regulators had first identified those issues in a 2018 order. Wells Fargo shares added 2% in premarket action.

Nielsen Holdings (NLSN) – Nielsen CEO David Kenny defended the ratings company in a letter to TV industry executives and said Nielsen does need to move faster in adjusting its ratings systems to capture the consumer shift from traditional viewing to streaming. Nielsen shares rose 1.3% in the premarket.

Dave & Buster's (PLAY) – Dave & Buster's rallied 7.9% in premarket trading after it reported quarterly earnings of $1.07 per share, well above the 58-cent consensus estimate. The restaurant and arcade chain's revenue beat Wall Street forecasts and Dave & Buster's said it continues to see signs of recovery in its business. It expects that to continue, barring any significant Covid-related downturn.

American Outdoor Brands (AOUT) – American Outdoor Brands earned an adjusted 48 cents per share for its fiscal first quarter, 8 cents above estimates. The maker of outdoor recreational products got a boost from increased profit margins and higher sales in both domestic and international markets. It projects full-year earnings of $2.02 to $2.26 compared with a $2.24 consensus estimate. Shares slid 5.4% in the premarket.

Zumiez (ZUMZ) – Zumiez beat estimates by 23 cents with adjusted quarterly earnings of $1.02 per share, but revenue fell short of the consensus view. The maker of streetwear and action sports apparel did not provide an outlook, due to volatile market conditions, and shares fell 5.3% in premarket trading.

Take-Two Interactive (TTWO) – Take-Two is delaying new versions of its "Grand Theft Auto" video game by four months, saying it wants additional time to "further polish" the final products. Take-Two maintained its prior full-year outlook and shares fell 1.9% in the premarket.

Sunrun (RUN), First Solar (FSLR) – Sunrun rose 2.8% in premarket trading, while First Solar added 1.1%. Sunrun was rated "buy" in new coverage at Needham, and the firm initiated coverage on First Solar with a "hold" rating. Needham is upbeat on Sunrun because of its leading market position in the solar industry, while it has near-term concerns about profit margin pressures for First Solar.