Marvell Technology Group
Here’s a look at the companies headlining before the bell:
Marvell technology (MRVL) – Shares of the chip maker fell 4.9% in a preliminary quarter after quarterly sales and profit fell short of Wall Street estimates. Marvell also issued a weaker-than-expected outlook. He said his customers have cut back on inventory, which is hurting results.
Zscaler (ZS) – The cloud security company reported a better-than-expected quarter, but shares fell 9.1% in premarket trading on conservative guidance. Zscaler says customers are taking longer to close new deals, which faces other headwinds.
Horizon Therapeutics (HZNP) – Shares of the drugmaker were up 3.2% in the market after Sanofi ( SNY ) said that if it decides to make an offer for Horizon, it will be an all-cash offer. Horizon shares jumped 27.3% on Wednesday after news that it was in talks with several potential acquisition partners.
DoorDash (DASH) – Shares of DoorDash fell 2.8% in premarket trading after RBC Capital Markets downgraded the stock to “sector perform”. RBC praised the delivery service’s performance and management, but said it was uncomfortable with the current rating due to potential order delays.
Rigel Pharma ( RIGL ) – Shares of Rigel surged 34% in premarket trading after the FDA approved a drug for a certain type of leukemia.
Open door technology (OPEN) – The digital real estate platform operator has named CFO Carrie Wheeler as its new CEO, replacing founder Eric Wu. Wu will move into the role of “market president.” Opendoor fell 2.7% in premarket action.
PagerDuty (PD) – Shares of the cloud computing company jumped 6.6% in premarket trading after reporting a surprise quarterly profit.
Asana (ASAN) – The job management platform operator is forecasting lower-than-expected sales for the quarter due to what it calls “macroeconomic cross-currents.” Asana fell 14.4 percent in the premarket.
Owens Corning (OC) – The building and construction materials company announced a 50% quarterly dividend increase to 52 cents per share and a program to repurchase up to 10 million shares.
Correction: An earlier version of this story misstated the day Horizon Therapeutics’ shares rose.