Before the bell rings, know about the companies that make headlines:
adobe (ADBE) — Shares of Adobe fell 3.7% in premarket trading after the software company issued weaker-than-expected financial guidance for the current quarter and full year. Adobe is facing adverse conditions from the war in Ukraine and unfavorable foreign exchange rates, though its most recent quarter outpaced Wall Street’s estimates for profit and revenue.
JD.com (JD) — JD.com is exploring potential expansion into food delivery, according to CEO Shin Lijun in an interview with Bloomberg. That would put it in direct competition with Chinese e-commerce giants Alibaba and Meituan, which dominate that business in China. JD.com jumped 8.9% in the premarket.
US Steel (X)- US Steel rose 7.7% in the premarket after issuing better-than-expected guidance for the current quarter. Steel producers’ results are being helped by rising demand and higher steel prices.
year (ROKU) — Shares of Roku rose 3.4% in premarket action after announcing partnership with retail giant walmart (WMT). Users of Roku devices will be able to purchase items with their remote while streaming TV programs.
Ali Baba (BABA) — Alibaba jumped 9.2% in premarket trading after Reuters reported that China’s central bank has approved Alibaba-affiliated Ant Group’s application to create a financial holding company. It revives hopes of a potential Ant Group initial public offering.
hundreds (CNC) — Sentinel rose 1.9% in the premarket after the health insurer raised its earnings outlook and added $3 billion to its share repurchase program. It also plans to reduce its real estate footprint.
Bosch Health (BHC) – Bosch Health suspended plans to take its Solta medical unit public, citing a number of factors, including challenging market conditions. Solta sells aesthetic technology for treatments such as skin smoothing and body contouring. Bosch added 3% in premarket trading.
crack (SNAP) — The social media company’s stock added 2% in the premarket after news that Snap was testing a paid subscription model that would give users access to exclusive and pre-release features.
American Express (AXP) — The financial services giant was upgraded from “neutral” to “outperform” at Baird, saying “relentless panic selling” provided a lucrative buying opportunity. American Express gained 1.5% in premarket action.
Utz Brands (UTZ) — The snack maker’s stock jumped 5.4% in the premarket after Goldman Sachs upgraded it from “neutral” to “buy.” Goldman cites Utz’s strong position in the fast-growing salty snack category, among other factors.