Check out the companies that make headlines before the clock:
Robin Hood (HOOD), Coin base (COIN) – Shares in the retail app and cryptocurrency exchanges fell in the pre-market after China signaled that it intensified its crash on crypto. The country’s central bank said Friday that all cryptocurrency-related activities are illegal. Shares in Coinbase fell more than 3.6%, while Robinhood fell 2%.
Year (ROKU) – Shares of the streaming video platform fell in form market trading after Wells Fargo downgraded Roku to equal weight from overweight. The investment firm said in a note that Wall Street expectations for Rocu’s revenue growth are likely to be too high as competition rises. Shares in Roku fell 2.3%.
Nike (NKE) – The clothing giant’s warehouse was under pressure the following Friday Nike reduced its revenue forecasts due to supply chain issues. The company said it expects one-year growth in sales in the middle of single digits for fiscal year 2022, down from an earlier forecast for low double-digit growth. Shares in Nike fell more than 4% in the pre-market.
Under armor (UAA) – The athletics apparel retailer fell in retail after rival Nike reduced its guidance. Shares in Under Armor fell more than 2% in dealer trading.
Costco (COST) The dealer beat expectations on the top and bottom line in its fourth quarter financial report on Thursday afternoon. The company reported $ 3.90 in adjusted earnings per share. Shares that easily topped expectations at $ 3.57 and net sales for the quarter rose more than 17% year over year. The stock was slightly higher in the pre-market.
Merck (MRK) – The pharmaceutical giant together with AstraZeneca, announced Friday morning that a treatment using the drug Lynparza slowed the development of prostate cancer in a phase three trial. Shares in Merck rose more than 1% in the pre-market.
Cheesecake Factory (CAKE), Dave & Busters (PLAY) – Restaurant shares rose slightly in the pre-market after Jefferies upgraded the shares to buy from hold. The company said full-service restaurants have seen traffic hold up well despite the proliferation of the delta variant.
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