Find out which companies are making the headlines before the bell:
Exxon Mobil (XOM) – The energy giant has announced it will post a fourth consecutive quarterly profit, largely on the back of higher oil and gas prices. The fourth quarter earnings snapshot was filed with the SEC, ahead of the official February 1 results.
Advanced Micro Devices (AMD) – The chipmaker said it now plans to secure a $ 35 billion buyout deal for rival Xilinx (XLNX) in the first quarter of 2022, delayed from its target of previous end of year 2021. The companies said they had not yet received all the necessary approvals. Xilinx is down 2.2% on premarket.
Pfizer (PFE) – UK regulators have approved the use of Paxlovid – the drugmaker’s Covid-19 antiviral pill – for people over 18 with mild to moderate illness.
Peloton (PTON) – The fitness equipment maker slipped 1.3% in pre-market stock after JMP Securities downgraded the stock to “market performance” from “market outperformance.” JMP cites the decline in website visits and page views.
Colfax (CFX) – The medical technology company is planning a meeting of shareholders to approve a reverse stock split, with the exact ratio to be determined at a later date. Colfax fell 2.7% in pre-market trading.
MP Materials (MP) – The rare earth materials maker has filed a tentative offer of up to $ 2 billion in debt securities. MP shares lost 1.1% in the pre-market.
Lexicon Pharmaceuticals (LXRX) – The drugmaker’s shares jumped 6.5% in pre-market trading after submitting a new drug application to the FDA for its heart drug sotagliflozin, designed to reduce the risk of heart failure in diabetic patients.