Netgear, Zendesk, WeWork and more

Take a look at some of the biggest pre-market movers:

Netgear (NTGR) – Netgear fell 10.6% in premarket trading after the networking equipment maker reported weaker-than-expected preliminary results for the quarter that ended April 3. Netgear also cut its revenue forecast for the current quarter, pointing to a weaker U.S. market for Wi-Fi equipment.

Zendesk (ZEN) – Zendesk jumped 6.1% in premarket trading following a Bloomberg report that the customer service software developer is considering a possible sale. Zendesk has reportedly hired advisor Qatalyst Partners to help with the process.

WeWork (WE) – WeWork rose 5.4% pre-market after shares of the office-sharing company were deemed “overweight” in new Piper Sandler coverage. The company underscores confidence in WeWork’s path to profitability and how well the flexible office model adapts to a post-Covid world.

Acadia Pharmaceuticals (ACAD) – Acadia Pharmaceuticals fell 7.7% in premarket stock after the drugmaker said its investigational drug to treat post-surgery pain failed to meet its primary target in a study of phase 2.

Johnson & Johnson (JNJ) – Johnson & Johnson beat estimates by 11 cents per share, with quarterly earnings of $2.67 per share. Turnover is slightly lower than forecast. J&J also suspended its sales forecast for its Covid-19 vaccine due to a global supply overhang, and announced a 6.6% dividend hike. Shares initially fell more than 3% pre-market, but later erased those losses.

Travelers (TRV) – Travelers shares have been volatile in premarket trading, swinging between gains and losses after the insurance company beat estimates on higher and lower results for its latest quarter. Travelers gained $4.22 per share versus consensus forecast of $3.57 per share, helped by lower disaster-related losses. Travelers also announced a 5.7% increase in the dividend.

Plug Power (PLUG) – Shares of the hydrogen fuel cell company jumped 6.6% in premarket action after announcing a deal to supply liquid green hydrogen to Walmart (WMT).

Halliburton (HAL) – Halliburton fell 2.7% in premarket trading despite higher estimates for its latest quarter. Halliburton gained 35 cents a share, a penny a share above estimates, as demand for oilfield service equipment remained strong. Halliburton shares closed Monday at a 3.5-year high.

American Campus Communities (ACC) – The student housing real estate investment trust has agreed to be purchased by Blackstone (BX) in a deal worth $12.8 billion including debt. American Campus Communities jumped 12.9% pre-market.

Twitter (TWTR) – Apollo Global Management (APO) may be willing to fund a takeover of Twitter, according to sources who spoke to CNBC. However, the private equity firm is not interested in joining other companies in a takeover bid.

JB Hunt Transportation (JBHT) – JB Hunt reported quarterly earnings of $2.29 per share, beating the consensus estimate of $1.94 per share. Revenue also exceeded Street’s forecast. The transportation company said it faced labor issues due to Covid-19, but added that it overcame that hurdle and business was improving as the quarter progressed. JB Hunt added 1.5% in premarket trading.

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