Stock Groups

Stocks making the biggest moves premarket: CarMax, McCormick, fuboTV


Check out the companies making headlines before the bell:

CarMax (KMX) – The auto retailer missed estimates by 18 cents with quarterly earnings of $1.72 per share, although revenue topped analyst projections. StreetAccount surveyed analysts and found that pre-owned vehicle sales increased 6.2%, which is less than StreetAccount’s 7.3% estimate. CarMax lost 7.1% on the premarket.

McCormick (MKC) – The spice maker reported adjusted quarterly earnings of 80 cents per share, beating estimates by 8 cents, with revenue slightly above Wall Street forecasts. It also reduced its full-year earnings outlook due to higher inflation and logistic challenges.

fuboTV (FUBO) – The sports-centered video streaming service’s Fubo Gaming unit is partnering with payments platform Paysafe (PSFE) for its interactive wagering operation. Premarket, Paysafe rose 1.1% while fuboTV gained 1.4%.

Merck (MRK) – Merck struck a deal to buy drugmaker Acceleron Pharma (XLRN) for $180 per share in cash or $11.5 billion. An earlier report had stated that Acceleron was nearing a deal. Merck had also been named as the potential suitor.

Virgin Galactic (SPCE) – Virgin Galactic shares soared 8.9% in the premarket after the FAA concluded a probe of a July 11th flight mishap and allowed the company to resume launches. It was determined that Virgin Galactic’s July flight diverged from its designated path, and the company had not reported the departure to the FAA.

Diageo (DEO) – Diageo said its new fiscal year is off to a strong start, with the world’s largest spirits producer pointing to a strong North American business and a faster-than-expected recovery in European markets. Premarket trading saw Diageo rise 2.3%

AstraZeneca (AZN) – The drugmaker’s Covid-19 vaccine showed 74% efficacy in a U.S. clinical trial, and 83.5% efficacy in people 65 years and older. It expects to file for U.S. authorization later in the year.

Altria (MO), Philip Morris International (PM) – The tobacco producers were ordered by the International Trade Commission to halt the import and sales of their IQOS heated tobacco device. This order is based on a case filed by R.J. Reynolds against rival tobacco producer. The case has now moved to administrative review.

Lordstown Motors (RIDE) – Lordstown is near a deal to sell its Ohio car factory to Taiwan’s Foxconn Technology for an undisclosed amount, according to people familiar with the matter who spoke to Bloomberg. The electric truck maker had bought the plant from General Motors (GM) less than two years ago. Lordstown gained 5.6% on the premarket.

Herman Miller (MLHR) – Herman Miller fell a penny shy of Wall Street forecasts with adjusted quarterly earnings of 49 cents per share, but the office furniture maker’s sales came in well above estimates and it also gave an upbeat current-quarter earnings forecast. Herman Miller gained 2.2% during premarket trading.

Perrigo (PRGO) – Perrigo shares surged 14.3% in premarket trading after the drugmaker resolved a tax dispute with Ireland for about $399 million, with no interest or penalties applied.