Pay attention to the companies that hit the headlines before the call:
Exxon Mobil (XOM) – The energy giant said it will report a fourth straight quarter of earnings, thanks in large part to higher oil and gas prices. A snapshot of the fourth quarter results was submitted to the SEC ahead of official reports on February 1.
Advanced Micro Devices (AMD) – The chipmaker said it now plans to complete a $ 35 billion takeover of all rival Xilinx (XLNX) shares during the first quarter of 2022, which has been postponed from its previous end-2021 target. The companies said they have not yet received all the required approvals. Xilinx shares fell 2.2% in the premarket.
Pfizer (PFE) – UK regulators have approved the use of Paxlovid – the drug maker’s Covid-19 antiviral pill – for people over 18 with mild to moderate illnesses.
Peloton (PTON) – Shares in the fitness equipment maker fell 1.3% premarket after JMP Securities downgraded the stock to market from outperform. JMP refers to reducing website visits and page views.
Colfax (CFX) – A medical technology company is planning a shareholder meeting to approve the reverse share split, with the exact ratio to be determined at a later date. Colfax shares fell 2.7% premarket.
MP Materials (MP) – A manufacturer of rare earth materials has placed an offer of up to $ 2 billion in debt securities on the shelf. MP shares lost 1.1% in premarket.
Lexicon Pharmaceuticals (LXRX) – The drug maker rose 6.5% on premarket after it filed with the FDA for a new drug, sotagliflozin, designed to reduce the risk of heart failure in diabetic patients.