Check out the companies making headlines before the bell:
Biogen (BIIB) – Biogen soared 45.6% in premarket trading after Biogen and Japanese partner Eisai said their experimental Alzheimer’s drug significantly slowed disease progression in a study, reducing cognitive and functional decline by 27%.
Thor Industries (THO) – Thor Industries gained 3.6% in the pre-market after the recreational vehicle maker reported better-than-expected earnings and revenue for its latest quarter. Thor saw particular strength in its motorized RV segment, with a 24.5% gain over the previous year.
Lyft (LYFT) – Lyft has said it will freeze hiring through the end of this year. This follows the ride-hailing company’s previous statement that it would “significantly” slow down hiring as it seeks to cut costs. Lyft slipped 2.5% in premarket trading.
Apple (AAPL) – Apple is backing away from plans to ramp up production of its new iPhone 14 lineup, according to people familiar with the matter who spoke to Bloomberg. It comes after an anticipated surge in demand failed to materialize. Apple fell 3.7% in premarket action.
Ocugen (OCGN) – Ocugen jumped 8.2% in premarket trading after the drugmaker announced a licensing agreement with Washington University in St. Louis to develop, market and manufacture its intranasal Covid vaccine -19.
Walt Disney (DIS) – Walt Disney is closing its four Florida theme parks and related properties as the state prepares for Hurricane Ian, which upgraded to a Category 4 storm this morning.
BlackBerry (BB) – BlackBerry reported a lower-than-expected quarterly loss and revenue that beat analysts’ forecasts, but the communications software company’s cybersecurity revenue fell due to cautious customer spending.
Canopy Growth (CGC) – Canopy Growth has announced plans to divest its retail operations in Canada, selling stores to partner OEG Retail Cannabis and cannabis retailer 420 Investments. The sales come after the cannabis producer announced earlier this year that it was extending its deadline to achieve profitability. Canopy Growth shares fell 1.8% premarket.