A sign is posted in front of a Google office on April 26, 2022 in San Francisco, California. Google’s parent company Alphabet will report first-quarter results after the market close today.
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Check out the companies making headlines before the bell:
Netflix — The streaming stock rose more than 6% after Netflix released its latest quarterly results. Although Netflix missed earnings expectations, it added more subscribers than analysts had forecast. The company also announced that co-CEO Reed Hastings would step down from his position.
alphabet – Shares in Google’s parent company rose 3.6% after CEO Sundar Pichai announced the company would lay off 12,000 employees and explained in a memo that the company was “preparing for a different economic reality than the one we’re dealing with.” are confronted with today”.
Eli Lilli — Shares of the pharmaceutical company fell more than 1% premarket after the US Food and Drug Administration rejected the drugmaker’s experimental treatment for Alzheimer’s disease for failing to provide enough trial data.
Ralph Lauren – The stock rose more than 1% after Barclays upgraded Ralph Lauren to overweight and said investors are buying a “best” clothing brand with continued gains. Separately updated Barclays shares of PVHwho owns the brands Tommy Hilfiger and Calvin Klein, too overweight.
Regeneron Pharma — The pharmaceutical giant is up 1% premarket after being upgraded from neutral to overweight by JPMorgan. The Wall Street company said its drug for treating age-related macular degeneration is “best-in-class therapy” and could serve as the next big catalyst for Regeneron.
PagerDuty – Shares rose more than 4% after Morgan Stanley upgraded PagerDuty from equal weight to overweight and said the cloud-computing company is pushing for better profitability.
Foreclosure – The stock fell more than 1% after Cowen downgraded it to market-perform from outperform, and said it sees an “increased risk of disruption” amid a tougher macroeconomic backdrop that could hurt customer spending.
north current — Shares of the retailer fell 7% in premarket trading after Nordstrom said its holiday sales fell 3.5% year over year. In a statement, CEO Erik Nordstrom described the retail environment as “very sales-promoting.” The company also lowered its earnings outlook.
Macy’s — Retail stocks like Macy’s fell after disappointing Nordstrom holiday sales. Macy’s shares, meanwhile, fell more than 2% cabbage 4% declined. Dillard’s fell by 1.3%.
Costco – Shares rose about 1% after Costco said it would reapprove a stock buyback program of up to $4 billion through January 2027.
– CNBC’s Michelle Fox, Yun Li, Tanaya Macheel and Jesse Pound contributed coverage.
Correction: Nordstrom reported disappointing holiday sales numbers, not the latest quarterly numbers.
https://www.cnbc.com/2023/01/20/stocks-making-the-biggest-moves-premarket-netflix-alphabet-nordstrom-pagerduty-and-more.html Netflix, Alphabet, Nordstrom, PagerDuty and more