Oracle, Uber, Pearson and others
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Take a look at the top companies that made headlines long before the bell rang.
Oracle (ORCL) – The business software giant’s shares fell 2.3% in the premarket after its adjusted quarterly profit of $1.13 per share fell 5 cents shy of estimates. The forecasts were met with revenue. Oracle is making progress with its cloud migration efforts, and cloud revenue jumped 24% over last year.
Uber Technologies (UBER) – The ride-hailing company’s shares rose 1.6% in premarket action after Deutsche Bank initiated coverage with a “buy” rating and a $50 price target. Deutsche Bank points out Uber’s leadership position in an expanding market and attractive entry price.
Pearson (PSO) – The education publisher’s stock spiked 20.1% in premarket trading after private equity firm Apollo said it was in the preliminary stages of evaluating a possible cash offer for Pearson. Apollo indicated that it was not certain an actual offer would ever be made.
Rivian (RIVN) – Rivian shares fell 8.5% in premarket action after the electric vehicle maker reported a wider than expected loss, and said supply chain issues would limit its factory output this year.
DiDi Global (DIDI) – DiDi shares plunged 12.7% in the premarket following a Bloomberg report that the ride-hailing company was suspending plans to list its shares in Hong Kong. Sources familiar with the issue claim that Didi didn’t comply with China regulators’ demands to overhaul how it handles sensitive user data.
Toyota Motor (TM) – Toyota slipped 1.7% in the premarket after saying it would cut production by up to 20% in April, May and June as it seeks to ease the strain on its suppliers, who are struggling to provide computer chips and other parts.
DocuSign (DOCU) – The electronic signature company reported adjusted quarterly earnings of 48 cents per share, 1 cent above estimates, with revenue also coming in above Street forecasts. After DocuSign gave weaker guidance for full-year 2018, shares plunged 17.5%
Ulta Beauty (ULTA) – The cosmetics retailer’s stock rose 2.6% in the premarket after reporting better-than-expected profit and revenue for its latest quarter. Ulta also announced that it will be buying back $2 billion of shares. Comparable store sales beat expectations by 21.4%.
Blink Charging (BLNK) – The maker of EV charging equipment reported a wider-than-expected quarterly loss even as sales beat analyst estimates. As the government and business communities continue to support reliable EV infrastructure, the company stated that it still sees strong momentum. Blink shares fell 6.1% during premarket trades.
Zumiez (ZUMZ) – The streetwear and action sports apparel maker saw its shares plummet 14.1% in premarket action after its quarterly earnings and revenue fell short of Wall Street forecasts. Also, current quarter guidance fell below estimates.
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