Today's Pre-Market Stock Movers: BIIB, HRL, CRWD, WOOF and More

Movers and Shakers wrote a column · Nov 30, 2022 07:39

Gapping up

$Biogen(BIIB.US)$ +3.6% (Biogen's partner Esai said it believed two deaths in the trial of their experimental Alzheimer's drug could not be attributed to the treatment. Biogen stock fell earlier in the week when the report of the second death first surfaced. Data from the trial showed that the drug slowed cognitive decline but could carry a risk of serious side effects.)

$Hewlett Packard Enterprise(HPE.US)$ +1.9% (Hewlett Packard Enterprise reported record quarterly sales and issued strong revenue guidance.)

$Petco Health and Wellness(WOOF.US)$ +8% (Petco's adjusted quarterly earnings of 16 cents per share matched Street forecasts, but revenue was slightly above estimates. A comparable store sales rise of 4.1% beat the FactSet consensus estimate of a 3.5% increase. )

$Horizon Therapeutics(HZNP.US)$ +32.9% (the drug maker said it was in preliminary talks about a possible sale with several large pharma companies.)

$Workday(WDAY.US)$ +9.6% (Workday shares lifted its outlook and announced a share buyback program. Workday also reporter better than expected top and bottom line results for its latest quarter.)

$State Street(STT.US)$ +3.5% (State Street added announced an agreement to terminate its planned $3.5 billion purchase of Brown Brothers Harriman's Investor Services unit. State Street cited difficulties in gaining the approval of regulators for the deal.)

Gapping down

$Hormel Foods(HRL.US)$ -6.4% (The food producer's stock slid 6.4% in the premarket after reporting a mixed quarter. Earnings beat estimates, but sales came up short of Wall Street forecasts. Hormel issued a weaker than expected outlook and said it expected a continued volatile and high cost environment.)

$CrowdStrike(CRWD.US)$ -17.6% (CrowdStrike's subscription numbers came in below analyst forecasts. CrowdStrike reported better than expected profit and revenue for its latest quarter, but economic uncertainty is prompting customers to delay spending.)

$NetApp(NTAP.US)$ -10.9% (NetApp reported a weaker than expected forecast from the cloud computing company, which reported better than expected quarterly earnings.)

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