Take a look at some of the biggest movers in the premarket:
CyberArk Software (CYBR) – The cybersecurity company reported quarterly profit of 50 cents per share, beating the consensus estimate of 36 cents a share. Revenue also beat forecasts. CyberArk said that due to the pandemic, it expected customers to make “more cautious” purchasing decisions, and it has withdrawn full-year guidance. Separately, CyberArk announced the acquisition of ID security company Idaptive for $70 million in cash.
Roku (ROKU) – The video streaming device maker said in a Securities and Exchange Commission filing that it had struck in agreement with JPMorgan Chase and Citigroup to sell up to 4 million Class A shares “from time to time.” The proceeds would be used for working capital and general corporate purposes.
Walt Disney (DIS) – Disney filed to sell $11 billion in notes of various terms, with due dates ranging from 2026 to 2060.
WW (WW) – Jefferies initiated coverage of the Weight Watchers parent with a “buy” rating, saying the Covid-19 pandemic had unlocked a durable trend in which wellness will be prioritized.
Twilio (TWLO) – The cloud communications company will power a new telehealth video service from online medical search and booking company Zocdoc.
Uber (UBER), Grubhub (GRUB) – Uber and Grubhub are at odds over price in a possible takeover deal, according to sources who spoke to CNBC. Uber is said to be in talks to acquire Grubhub and combine the food delivery service with its own “Uber Eats” business. Separately, Uber filed to offer $750 million in senior notes that would be due in 2025.
Sony (SNE) – Sony reported a 57{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} drop in fiscal fourth-quarter operating profit, coming in below analysts’ estimates. The tech giant declined to give an outlook for the current year due to pandemic-related uncertainty. The profit decline was prompted by a drop in demand for Sony’s products such as smartphone image sensors.
Las Vegas Sands (LVS) – Las Vegas Sands scrapped plans for a Japan casino and resort project, without giving a reason for doing so. Competitors Wynn Resorts (WYNN) and Caesars Entertainment (CZR) had previously withdrawn from Japan-based casino projects.
Occidental Petroleum (OXY) – Occidental is offering its employees voluntary buyouts, according to an internal document seen by Reuters. The document cites the Covid-19 pandemic and the steep decline in oil prices for the move.
J.C. Penney (JCP) – J.C. Penney is in talks to line up a $450 million debtor-in-possession loan, according to people familiar with the situation who spoke to CNBC. The loan would be part of a bankruptcy filing by the retailer expected later this week.
Gilead Sciences (GILD) – Gilead struck licensing deals with five generic drug makers for production of its antiviral drug remdesivir in 127 countries outside the United States. Mylan (MYL) – the world’s largest generic drugmaker – is among them.
The Container Store (TCS) – The Container Store reported preliminary fiscal fourth-quarter results, projecting a 4.7{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} drop in quarterly sales and a 3.6{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} decline in comparable-store sales. The home organization and storage products retailer said performance had been tracking its own expectations prior to the Covid-19 pandemic.
JD.com (JD) – JD.com was upgraded to “buy” from “neutral” at Mizuho Securities, which said the Chinese e-commerce company will benefit from the deregulation of pharmacy sales, as well as a jump in demand for essential items.
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