Take a look at some of the biggest movers in the premarket:
BioNTech (BNTX) – The drugmaker’s shares slid 3.4% in the premarket despite reporting better-than-expected quarterly profit and revenue. Results were down sharply from a year ago, with both profit and revenue off more than 40% from 2021’s third quarter.
Berkshire Hathaway (BRK.b) – Berkshire Hathaway gained 1.5% in premarket trading after Warren Buffett’s firm reported better-than-expected earnings, with revenue also topping Street forecasts. Berkshire reported an overall loss, however, as a falling stock market ate into the value of its investment portfolio.
Meta Platforms (META) – Meta added 2.6% in the premarket after The Wall Street Journal reported that the Facebook parent was preparing to announce large-scale layoffs this week.
Apple (AAPL) – Apple shares slid 1.8% in the premarket after it said Covid-19 restrictions are hindering iPhone production at the Foxconn factory in China. That factory is the world’s biggest iPhone production site.
Yamana Gold (AUY) – Yamana Gold lost 2.7% in the premarket after Gold Fields (GFI) said it would not change the terms of its takeover deal with Yamana. Agnico Eagle Mines (AEM) and Pan American Silver (PAAS) submitted a rival offer Friday, but Gold Fields maintains that its bid is superior.
Ouster (OUST) – The maker of lidar sensors will combine with rival Velodyne (VLDR) in a merger of equals, with Ouster and Velodyne shareholders each owning 50% of the combined company. Ouster jumped 5.1% in premarket action while Velodyne rallied 5.6%.
Ryanair (RYAAY) – The airline’s stock gained 6.2% in premarket trading after it reported its largest-ever profit for the first half of the year.
DoorDash (DASH) – The delivery service’s shares were upgraded to “outperform” from “perform” at Oppenheimer, which pointed to improving margins at U.S. restaurants among other factors. DoorDash gained 2.7% in premarket trading.
Okta (OKTA) – The maker of identity management software jumped 3.9% in the premarket after Guggenheim upgraded the stock to “buy” from “neutral.” It called the stock’s current valuation “too compelling to ignore.”
Image and article originally from www.cnbc.com. Read the original article here.