Estee Lauder, Meredith Corp., DraftKings and more – fr

Estee Lauder, Meredith Corp., DraftKings and more – fr

Take a look at some of the biggest players in the pre-market:
Estee Lauder (EL) – The cosmetics maker reported quarterly profit of $ 1.62 per share, 30 cents per share above estimates. Revenue was slightly lower than expected, however, as sales of Estee Lauder’s premium products were impacted by people who continue to work from home. Estée Lauder shares lost 3.5% in pre-release.

Meredith Corp. (CDM) – Meredith jumped 11.5% in pre-market action following a Bloomberg report that she is in advanced talks to sell her 17 local TV channels to Gray Television (GTN) for a estimated amount of $ 2.5 billion. People familiar with the matter say a deal could be announced as early as this week.

DraftKings (DKNG) – The sports betting company has been upgraded to ‘outperform’ relative to ‘market performance’ at Cowen, indicating a ‘solid’ path to legalization of the industry and good prospects for growth and increase in market share. The share rose 1.5% in pre-market trading.

Verizon (VZ) – Verizon is close to an agreement to sell media assets like AOL and Yahoo to Apollo Global Management (APO), according to multiple reports. The deal is said to be worth up to $ 5 billion and could be announced today.

Berkshire Hathaway (BRK.B) – Shares of Berkshire have added 1% to the pre-market and are expected to reach an all-time high in trading today after its annual meeting this weekend. CEO Warren Buffett said Berkshire profits were rebounding from the effects of the pandemic and the company was also extending its share buybacks by an additional $ 6.6 billion.

Moderna (MRNA) – The drugmaker’s shares jumped 2.9% in pre-market shares after reaching a deal to deliver 500 million doses of the Covid-19 vaccine to low- and middle-income countries in as part of a program supported by the United Nations.

Canadian Pacific Railway (CP) – Canadian Pacific Railway has filed an opposition to a ruling that exempts Canadian National (CNI) from stricter merger rules due to its reduced size. The objection stems from Canadian National’s attempt to outbid Canadian Pacific in its quest to buy US rail operator Kansas City Southern (KSU).

Dell (DELL) – Dell has announced the sale of its Boomi cloud business to private equity firms TPG and Francisco Partners for $ 4 billion, including debt.

Align Technology (ALGN) – The company behind the Invisalign braces has announced a $ 100 million fast-track share buyback agreement with Goldman Sachs. The transaction will complement the $ 600 million buyback program announced by Align in May 2018.

Li Auto (LI), Nio (NIO), XPeng (XPEV) – China-based electric vehicle manufacturers announced April delivery figures, with Li Auto deliveries up 111% from a year ago a year, Nio up 125% and XPeng up 285%. Li Auto grew 2.3% on pre-release, while XPeng gained 1.2%.

Novartis (NVS) – The Swiss drugmaker’s Sandoz division has started enrolling in an advanced trial of a biosimilar version of Regeneron (REGN) Eylea, designed to treat age-related macular degeneration. Novartis gained 1% on pre-market.

Tilray (TLRY) – The Canada-based cannabis producer saw its shares increase by 1% in pre-market commerce after announcing the completion of its merger with rival Aphria.


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