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Marvell Technology, Horizon Therapeutics, DoorDash and others

Marvel Technology Group

Source: marvel.com

Check out the companies that make headlines before the call:

Marvell Technology (MRVL) – Shares of the chip maker fell 4.9% in premarket trading after quarterly sales and earnings fell short of Wall Street estimates. Marvell also released a weaker-than-expected forecast. Stock cuts by his clients are hurting results, he said.

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Zscaler (ZS) – The cloud security company reported a better-than-expected quarter, but its shares fell 9.1% in premarket trading after a conservative outlook. Zscaler said it takes longer for clients to close new deals and that it also faces other hurdles.

Horizon Therapy (HZNP) – Shares of the drug maker rose 3.2% in premarket trading after Sanofi (SNY) stated that if it decides to make an offer for Horizon, it will be a cash-only offer. Horizon shares soared 27.3% last Friday on news that the company was in talks with several potential takeover partners.

DoorDash (DASH) – DoorDash shares fell 2.8% in pre-market trading after RBC Capital Markets downgraded the stock from Outperform to Sector Efficient. RBC commends the execution and management of the delivery service, but says it is unhappy with the current valuation, given the possibility of a slowdown in order fulfillment.

Rigel Pharma (RIGL) – Rigel’s stock soared 34% in premarket trading after the FDA approved its drug to treat a specific type of leukemia.

open technologies (OPEN) — Digital real estate platform operator has named CFO Carrie Wheeler as its new CEO, replacing company co-founder Eric Wu. Wu will move into the role of “market president.” Shares of Opendoor shed 2.7% in premarket trading.

PagerDuty (PD) — Shares of the cloud computing company jumped 6.6% in premarket trading after it reported unexpected quarterly earnings.

Asana (ASAN) — The work management platform operator is forecasting lower-than-expected sales for the current quarter due to what it calls “macro cross-flows.” Asana shares fell 14.4% in premarket trading.

Owens Corning (OC) – The building materials maker announced a quarterly dividend increase of 50% to 52 cents per share, as well as a buyback program of up to 10 million shares.


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