Check out the companies making headlines before the bell:
Catalent (CTLT) – The drug delivery and manufacturing technology company beat bottom line estimates for its latest quarter. However, its revenue was short of Wall Street forecasts, as was its full-year revenue outlook. Its stock slid 5.7% in the premarket.
Pinduoduo (PDD) – The China-based e-commerce company’s stock rallied 13.6% in the premarket following better-than-expected quarterly results. The company said its performance was boosted by a recovery in consumer sentiment.
Netflix (NFLX) – Netflix is mulling a $7 to $9 monthly price for its soon-to-debut ad-supported service, according to a Bloomberg report. That compares with the $15.49 price for the company’s most popular current ad-free plan. Netflix fell 1.3% in premarket trading.
Walmart (WMT) – Walmart is offering to buy the 47% of South African retailer Massmart that it doesn’t already own for $377.6 million. That values Massmart at 53% above Friday’s close.
Moderna (MRNA) – Swiss officials gave their approval to the latest version of Moderna’s Covid-19 vaccine, which contains both the original vaccine compound and one that targets the omicron variant.
Etsy (ETSY) – Etsy will require U.S. sellers using the online platform to either self-verify their bank accounts or provide fintech platform Plaid with their user name and password for those accounts. Reuters reports the move is causing pushback from sellers, some of whom are considering leaving Etsy. Etsy fell 1.1% in premarket action.
Dell Technologies (DELL) – The computer products and services company has ceased all operations in Russia after suspending sales in Russia and Ukraine in February. Dell lost 1% in premarket trading.
Dow Inc. (DOW) – The chemical maker’s stock fell 2.8% in the premarket after KeyBanc downgraded it to “underweight” from “sector weight.” KeyBanc said it expects Dow’s margins and earnings this quarter to approach trough or recession levels.
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