Stocks making the biggest moves premarket: CarMax, FedEx, Seagen and more

Before the bell rings, know about the companies that make headlines:

Carmax (KMX) — The automobile retailer beat estimates by 7 cents with quarterly earnings of $1.56 per share, and revenue also beat analyst forecasts for what the company called a “challenging” vehicle market. CarMax added 1.1% premarket.

fedex (FDX) — up 3.4% in premarket trading after FedEx reported 1 percent of its quarterly adjusted earnings per share beating estimates of $6.87. Shipment volumes declined, but were offset by increased shipping rates and fuel surcharges. FedEx also issued upbeat guidance for fiscal year 2023.

season (SGEN) — Seasoned shares up 3.5% in premarket action after Wall Street Journal report Merck (MRK) is pushing for a possible deal to acquire the biotech company. The stock jumped last week after initial reports from the newspaper that Merck was in talks with Cizen about a potential transaction.

zendesk (ZEN) — Zendesk surged 56.5% in the premarket on reports that the software company is nearing a buyout deal with a group of private equity firms. The Wall Street Journal reported that those involved included Hellman & Friedman and Permira. The potential buyout comes after Zendesk announced last week that it had ceased efforts to sell itself.

Microsoft (MSFT) — Microsoft gained 1.2% in the premarket after Citi named it a “top pick,” pointing to its attractive valuation and the company’s ability to sustain growth.

Bosch Health (BHC) – Bosch Health announced that President Joseph Papa has stepped down from the board and that this was not due to a dispute or disagreement with the health care product manufacturer. Investor John Paulson will become chairman. Bosch Health jumped 3.6 per cent in premarket trading.

Blackberry (BB) — BlackBerry reported an adjusted quarterly loss of 5 cents per share, matching analyst forecasts, while the software company’s revenue beat estimates. BlackBerry’s results were helped by growth in cybersecurity and auto products. Its stock rose 1% in the premarket.

lending tree (TREE) — LendingTree tumbled 7.9% in premarket trading, after the online lender cut its current quarterly guidance. LendingTree pointed to recession fears, higher interest rates and inflationary factors for the revision.

wolfspeed (WOLF) – the semiconductor developer was upgraded from “neutral” to “buy” at Goldman Sachs, saying the stock’s risk-reward profile is now much more attractive given its recent declines and that it That’s a significant upward earnings call ahead. Wolfspeed rose 4.1% in premarket trading.