Check out the companies making headlines before the bell:
Best Buy (BBY) – Best Buy gained 2.6% in pre-market after the electronics retailer beat Street forecasts for higher and lower results for its latest quarter, while same-store sales rose. decreased less than expected.
Big Lots (BIG) – The discount retailer reported a lower-than-expected quarterly loss and revenue above expectations. Same-store sales also fell less than analysts expected. The stock rose 2.7% in premarket trading.
First Solar (FSLR) – First Solar rose 1.9% in premarket stock after announcing it would spend $1.2 billion to expand U.S.-based manufacturing, including a new plant in the South-East. Earlier this year, the solar equipment maker said it was unlikely to build new facilities in the United States, but changed its strategy due to tax incentives provided by the Energy Reduction Act. recently adopted inflation.
Twitter (TWTR) – Twitter fell 1% in premarket trading after Elon Musk sent a second notice to terminate the deal. Musk first announced that he was pulling out of his $44 billion deal to buy Twitter in early July. The second notice – detailed in an SEC filing – gives additional reasons to withdraw, including the assertion that the allegations detailed in the whistleblower’s recent complaint could have serious consequences for Twitter’s business.
Baidu (BIDU) – Baidu reported better-than-expected earnings and revenue for its latest quarter, as the China-based search engine company saw a recovery in advertising sales and stronger demand for its cloud-based offerings. Baidu shares added 3.8% premarket.
Bed Bath & Beyond (BBBY) – The homewares retailer’s stock jumped 11.7% pre-market after climbing 25% yesterday. The company – popular among “meme stock” traders – will deliver a trading and strategy update on Wednesday.
Lucid Motors (LCID) – Lucid filed a so-called shelf offering to raise up to $8 billion. The electric vehicle maker said it has no plans to sell any securities at this time. Lucid slipped 1.4% in premarket trading.
Netflix (NFLX) – Netflix is denying a Bloomberg report that it is considering monthly fees of $7-9 for its upcoming ad-supported streaming service. The company told the New York Post that it is still in the early planning stages of the service and no pricing decision has been made. Netflix added 1.4% in the premarket action.
SolarEdge Technologies (SEDG) – SolarEdge may be subject to an import ban, depending on the results of an investigation by the International Trade Commission. Ampt, a smaller solar equipment rival, claims SolarEdge’s power optimizers and inverters infringe two of its patents. SolarEdge gained 1% in premarket trading.
Peloton (PTON) – Peloton needs more time to file its annual report for the year ending June 30, according to an SEC filing. The fitness company said it was still settling the accounting related to its planned restructuring. The stock rose 1.4% pre-market.