Check out the companies making headlines before the bell:
Discovery Communications, ViacomCBS – The two media stocks are higher this morning, after being battered amid the liquidation of stocks involving hedge fund Archegos Capital. Discovery rose 1.6% premarket after a 6-day losing streak that stripped nearly 47% of its value, while Viacom gained 1.1% after a 5-day skid that saw it lose 55% of its value.
Nomura Securities, Credit Suisse – Nomura and Credit Suisse slid again in premarket trading, after tumbling Monday on news of anticipated loss from the fallout of Archegos Capital’s stock sales. Nomura fell 1.9%, while Credit Suisse was down 2.6%.
Albertsons – The supermarket chain announced a wide-ranging partnership with Alphabet-owned Google that will integrate a variety of Google services to enhance the shopping experience for Albertsons customers.
PayPal Holdings – PayPal will launch a checkout service allowing U.S. customers to use cryptocurrency holdings when they check out at millions of online merchants. Customers will be given the option of converting cryptocurrency to fiat currencies before they complete their purchases.
T-Mobile US – The wireless carrier will end its “TVision” live TV service at the end of April, and will instead offer its customers discounts to subscribe to Google’s YouTube TV service.
McCormick & Co. – The spice and condiment maker reported adjusted quarterly profit of 72 cents per share, beating consensus estimates by 13 cents, with revenue beating estimates as well. The company also raised its full-year forecast, as the pandemic continues to see more consumers cooking at home. McCormick shares gained 2.1% in premarket action.
Tegna – The media company increased its quarterly dividend to 9.5 cents per share from the prior 7 cents, payable on July 1 to stockholders of record as of June 4.
Roku – The maker of video streaming devices saw its stock rise 1.6% premarket, after Truist Financial upgraded the stock to “buy” from “hold” on what it sees as multiple opportunities for revenue enhancement as well as current valuation.
Yelp – The review site operator was upgraded to “buy” from “neutral” at Citi, which sees Yelp benefiting from a number of trends over the next few years including restaurant reopenings and reduced sales expenses. Yelp gained 1.8% premarket.
BioNTech – The German biotech company’s shares jumped 4.9% premarket after it raised its manufacturing goal for its Covid-19 vaccine to 2.5 billion doses by the end of 2021. Previously, BioNTech’s vaccine partner Pfizer had predicted output of between 2.3 billion and 2.4 billion.
FactSet – The financial information provider reported adjusted quarterly earnings of $2.72 per share, missing consensus estimates by 2 cents, while revenue was in line with Wall Street forecasts. FactSet also predicted full-year adjusted earnings of $10.75 to $11.15 per share, compared to a consensus estimate of $11.17.
Becton Dickinson – The medical-products maker received emergency use authorization from the FDA for a new rapid antigen test that can detect both flu and Covid-19.
DraftKings – The sports betting company announced the acquisition of sports betting and content company VSiN for an undisclosed amount. DraftKings shares jumped 1% premarket.
