Check out the businesses making headlines earlier than the bell:
Exxon Mobil (XOM) – The vitality big signaled that it’s going to report a fourth consecutive quarterly revenue, thanks largely to stronger oil and gasoline costs. The snapshot of fourth quarter outcomes got here in an SEC submitting, forward of the official earnings on February 1.
Advanced Micro Devices (AMD) – The chipmaker mentioned it now expects to finish a $35 billion all-stock takeover deal for rival Xilinx (XLNX) through the first quarter of 2022, delayed from its prior 2021 year-end goal. The firms mentioned they haven’t but acquired the entire wanted approvals. Xilinx was down 2.2% within the premarket.
Pfizer (PFE) – British regulators have accepted the usage of Paxlovid – the drug maker’s Covid-19 antiviral capsule – for individuals over 18 with delicate to average sickness.
Peloton (PTON) – The health tools maker slid 1.3% in premarket motion after JMP Securities downgraded the inventory to “market perform” from “market outperform.” JMP cites declining web site visits and web page views.
Colfax (CFX) – The medical expertise firm is planning a shareholder assembly to approve a reverse inventory cut up, with the precise ratio to be decided at a later date. Colfax fell 2.7% in premarket buying and selling.
MP Materials (MP) – The maker of uncommon earth supplies filed a shelf providing of as much as $2 billion in debt securities. MP shares misplaced 1.1% within the premarket.
Lexicon Pharmaceuticals (LXRX) – The drug maker’s shares surged 6.5% in premarket buying and selling after it submitted a brand new drug utility to the FDA for its coronary heart drug sotagliflozin, which is designed to scale back the chance of coronary heart failure in diabetic sufferers.