Listed below are the businesses making headlines earlier than the bell:
Angi (ANGI) – Angi shares added 2% in premarket buying and selling after the net residence companies firm named Joey Levin as CEO, changing Oisin Hanrahan. Levin is at the moment the CEO of Angi mum or dad firm IAC and can proceed in that function in addition to operating Angi.
Leggett & Platt (LEG) – Leggett & Platt tumbled 8.6% within the premarket after the economic producer slashed its full-year gross sales and earnings steering. The corporate factors to inflation and financial situations which have weighed on demand, however does count on fourth quarter outcomes to enhance from the third quarter.
KLA-Tencor (KLAC) – The semiconductor tools and companies firm will reportedly halt some gross sales and companies in China to adjust to U.S. export controls, in accordance with a supply conversant in the scenario who spoke to Reuters. KLA shares slid 2.4% in premarket buying and selling.
Zscaler (ZS) – Zscaler took a 4.9% premarket hit after the cloud safety firm introduced the resignation of firm president Amit Sinha, who will transfer to a CEO place at a privately held expertise firm. Sinha will stay on Zscaler’s board of administrators.
Meta Platforms (META) – Meta was downgraded to “impartial” from “chubby” at Atlantic Equities, which additionally lowered its value goal for the Fb and Instagram mum or dad’s inventory to $160 per share. The agency mentioned Meta faces an more and more challenged development outlook as a result of macroeconomic headwinds. Meta fell 1.3% in premarket motion.
BlackRock (BLK) – BlackRock was downgraded to “impartial” from “purchase” at UBS, with the worth goal for the asset administration agency’s inventory lower to $585 per share from $700. UBS mentioned BlackRock faces some threat from its place on ESG investing, in addition to restricted expense flexibility. BlackRock is about to report quarterly earnings on Thursday. BlackRock fell 2% in premarket buying and selling.
Roblox (RBLX) – Roblox slumped 4.3% within the premarket after the inventory was rated “underweight” in new protection at Barclays. The agency mentioned the gaming platform operator was a primary beneficiary of the pandemic, however that development could also be challenged going ahead as its key markets have already got excessive penetration charges.
Lululemon (LULU) – The attire maker’s inventory added 1.4% within the premarket after Piper Sandler upgraded it to “chubby” from “impartial,” noting ongoing gross sales momentum and a possibility for outperformance in outerwear through the fall/winter season.
Warner Music Group (WMG) – The music writer’s inventory rallied 3.4% in premarket buying and selling after Goldman Sachs started protection with a “purchase” score. Goldman cites development in subscription and ad-supported music streaming in addition to new licensing alternatives.