Marvell Technology Group
Check out the companies making headlines before the bell:
Marvell Technology (MRVL) – The chipmaker’s stock slid 4.9% premarket after quarterly sales and earnings fell short of Wall Street estimates. Marvell also issued a weaker than expected outlook. Inventory reductions by its customers are hurting results, he said.
investment related news
Z-scale (ZS) – The cloud security company reported a better-than-expected quarter, but its stock fell 9.1% in premarket trading following cautious guidance. Zscaler said customers are taking longer to close new deals and it also faces other headwinds.
Therapeutic Horizon (HZNP) – Drugmaker shares added 3.2% in premarket action after Sanofi (SNY) said if it decided to make an offer for Horizon, it would be an all-cash offer. Shares of Horizon soared 27.3% last Friday after announcing it was in talks with several potential buyout partners.
DoorDash (DASH) – DoorDash shares fell 2.8% in premarket trading after RBC Capital Markets downgraded the stock from “outperformer” to “sector performer”. RBC praises the execution and management of the delivery service, but says it is uncomfortable with the current valuation given the potential for slower orders.
Rigel Pharma (RIGL) – Rigel shares soared 34% in premarket after the FDA approved its drug to treat a certain type of leukemia.
Open door technologies (OPEN) – The digital real estate platform operator has named chief financial officer Carrie Wheeler as its new CEO, replacing company co-founder Eric Wu. Wu will step into the role of “market chairman.” Opendoor lost 2.7% in the premarket action.
pager (PD) – The cloud computing company’s stock jumped 6.6% in premarket trading after posting an unexpected quarterly profit.
Asana (ASAN) – The operator of the labor management platform forecast weaker-than-expected sales for the current quarter, due to what it called “macroeconomic cross-currents”. Asana fell 14.4% in pre-release.
Owens Corning (OC) – The building and building materials maker announced a 50% increase in the quarterly dividend to 52 cents per share, as well as a buyback program of up to 10 million shares.