Business

CarMax, Micron, Under Armor and others

Check out the companies that make headlines before the call:

CarMax (KMX) – Shares of the auto retailer fell 12.7% in premarket trading after its quarterly earnings and revenue fell short of expectations. CarMax earned 24 cents a share from a consensus estimate of 70 cents, and like-for-like used car sales were down 22.4% from FactSet’s consensus forecast of a 16.9% decline.

Micron Technologies (MU) – Shares of Micron fell 2.9% in premarket trading after the chip maker reported higher-than-expected quarterly losses and earnings that fell short of Wall Street’s forecasts. Micron’s results were impacted by declining demand for electronics, and the company announced it was cutting about 10% of its workforce.

under armor (UAA) – manufacturer of sportswear Marriott Stephanie Linnartz will become its new CEO from 27 February. Linnartz is currently President of International Operations for Marriott and has been with the hotel operator for 25 years.

Tyson Foods (TSN) — Tyson is expected to lose hundreds of employees when it consolidates corporate offices in Arkansas next year, according to people familiar with the matter who spoke to the Wall Street Journal. Beef and poultry producer closes two offices in Illinois and one in South Dakota. Tyson fell 1% in premarket.

Miller Knoll (MLKN) – MillerKnoll gained 2.9% in premarket trading after reporting higher-than-expected earnings and revenue for the latest quarter. The furniture manufacturer was able to offset a 13% decline in orders with higher prices.

TuSimple (TSP) — TuSimple plans to cut 25% of its workforce, affecting about 350 employees at the self-driving truck startup. Earlier reports said the company could cut up to 700 employees as it refocuses on research and development of driverless truck technology. TuSimple is up 3.5% in premarket trading.

Global Business Travel Group (GBTG) – Subsidiary American Express has been ranked Best in New Coverage by Evercore ISI, which expects the business travel platform to benefit from its industry-leading position and a recovery in business activity. Shares of Global Business Travel Group rose 1.6% in premarket trading.

Mirati Therapy (MRTX) — The drug maker’s shares jumped 9.4% in premarket trading after the FDA awarded its colorectal cancer treatment “breakthrough therapy” status. This designation speeds up the approval process for treatments that provide a significant improvement over existing treatments.


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