Exxon Mobil, Pfizer, Peloton and others
See which companies are making the headlines even before the bell rings.
Exxon Mobil (XOM) – The energy giant signaled that it will report a fourth consecutive quarterly profit, thanks in large part to stronger oil and gas prices. A snapshot of fourth quarter results was provided by the SEC in a filing. This is ahead of February’s official earnings.
Advanced Micro Devices (AMD) – The chipmaker said it now expects to complete a $35 billion all-stock takeover deal for rival Xilinx(XLNX) in the first quarter, 2022. It was delayed from its previous 2021 year-end goal. According to the companies, they still haven’t received all necessary approvals. Xilinx declined 2.2% in premarket.
Pfizer (PFE) – British regulators have approved the use of Paxlovid – the drug maker’s Covid-19 antiviral pill – for people over 18 with mild to moderate illness.
Peloton (PTON) – The fitness equipment maker slid 1.3% in premarket action after JMP Securities downgraded the stock to “market perform” from “market outperform.” JMP mentions declining site visits and page views.
Colfax (CFX) – The medical technology company is planning a shareholder meeting to approve a reverse stock split, with the exact ratio to be determined at a later date. Colfax lost 2.7% during premarket trading.
MP Materials (MP) – The maker of rare earth materials filed a shelf offering of up to $2 billion in debt securities. MP shares were down 1.1% on the premarket.
Lexicon Pharmaceuticals (LXRX) – The drug maker’s shares surged 6.5% in premarket trading after it submitted a new drug application to the FDA for its heart drug sotagliflozin, which is designed to reduce the risk of heart failure in diabetic patients.