A sign is posted in front of the Nvidia headquarters on May 10, 2018 in Santa Clara, California.
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Discover the companies grabbing attention in premarket trading.
Nvidia — The chipmaker’s shares increased 0.7% during active premarket trading. Nvidia will release its second-quarter results after the market closes on Wednesday.
Peloton — The exercise bike company’s stock plummeted more than 27% following the release of its quarterly results. Peloton reported an adjusted loss of 68 cents per share on $642.1 million in revenue, while analysts polled by Refinitiv forecasted a 38-cent loss and $639 million.
Novavax — Shares rose nearly 2% in early trading. The surge came after the biotech company announced that its new Covid vaccine is effective against the Eris variant of the virus. The stock had already gained over 13% the previous day.
Kohl’s — The stock increased by 2.6% after surpassing expectations in the second quarter. Kohl’s reported adjusted earnings of 52 cents per share, while analysts polled by Refinitiv expected 22 cents. However, revenue slightly fell short of the forecast at $3.68 billion compared to the anticipated $3.69 billion.
Apellis Pharmaceuticals – The pharmaceutical company’s shares surged by nearly 30% in premarket trading after Apellis provided an update on the safety of Syfovre, a drug used for treating a degenerative eye disease. Apellis stated that there is no direct causal link between a side effect and a specific filter needle used with Syfovre, but it recommends practitioners to use an alternative filter needle instead.
Foot Locker — The sneaker retailer’s stock plunged more than 32% before the market opened after it revised its outlook for the second time this year. Although the fiscal second-quarter adjusted earnings were at 4 cents per share as expected, the revenue fell short of the anticipated $1.88 billion. Foot Locker also suspended its quarterly dividend.
Safehold — The real estate company’s stock declined by 0.6% after Goldman Sachs initiated coverage with a buy rating earlier in the day.
Dick’s Sporting Goods — Shares were trading 2% lower a day after the company reported lower-than-expected earnings and reduced its future guidance.
— CNBC’s Samantha Subin, Jesse Pound, and Sarah Min contributed to this report.
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