Today's Pre-Market Stock Movers: ORCL, RENT, U, AKRO and More
Gapping up
In reaction to earnings/guidance:
• $Planet Labs PBC(PL.US$ +11.3%, $Core & Main(CNM.US$ +6.1%, $Regal Rexnord(RRX.US$ +2% (reaffirms outlook), $Oracle(ORCL.US$ +1.6%
Other news:
• $Akouos(AKUS.US$ +10.3% (FDA clears IND application to initiate a Phase 1/2 first in human pediatric clinical trial of AK-OTOF)
• $Cheniere Energy(LNG.US$ +3.3% (provides long-term plan targets; increases FY22 guidance; increases share repurchase authorization by $4 bln)
• $UBS Group(UBS.US$ +2.8% (provides update on its 2022 capital returns to shareholders; raises dividend)
• $Applovin(APP.US$ +2.7% (APP confirms it does not intend to submit another proposal to combine with $Unity Software(U.US$ and has withdrawn its initial proposal)
• $Rocket Lab(RKLB.US$ +1.9% (preparing to launch its 30th Electron rocket and 150th satellite to space)
• $Peloton Interactive(PTON.US$ +1.2% (co-founders John Foley and Hisao Kushi step down; names new chairperson)
Gapping down
US Stocks Brief: Futures Turn Negative After US CPI Miss, With $S&P 500 Index(.SPX.US$ Now Down Near 1.5% and $Nasdaq Composite Index(.IXIC.US$ Down 2.1%.
In reaction to earnings/guidance:
• $Rent the Runway(RENT.US$ -24.5% (also announces restructuring plan; includes 24% workforce reduction), $Braze(BRZE.US$ -5.9%, $Eastman Chemical(EMN.US$ -3% (guidance), $Cardinal Health(CAH.US$ -1.1% (reaffirms outlook)
Other news:
• $Revance Therapeutics(RVNC.US$ -6.4% (prices offering of 8 mln shares of common stock at $25.00 per share)
• $Crestwood Equity(CEQP.US$ -3% (AM to acquire Marcellus Shale assets from $Crestwood Equity(CEQP.US$ for $205 mln; prices secondary offering of 11.4 mln common units by certain subsidiaries of Chord Energy (CHRD) for gross proceeds of $306.7 mln)
• $MiMedx(MDXG.US$ -2.5% (receives reimbursement approval from Japanese Ministry of Health for EPIFIX)
• $Unity Software(U.US$ -1.9% (APP confirms it does not intend to submit another proposal to combine with Unity and has withdrawn its initial proposal)
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