Before the bell, take a look at the businesses making news.
Technology by Align After HS initiated coverage with a buy recommendation, shares increased 2.5% in early morning trade. The company cited the Invisalign manufacturer’s robust brand recognition and its ability to increase market share in digital orthodontics.
Hewlett Packard Business After the tech company’s quarterly report, the stock decreased by almost 2% in premarket trading. For its fiscal third quarter, HPE reported adjusted earnings of 49 cents per share, 2 cents better than a Refinitiv expectation. Revenue of $7 billion was in line with forecasts.
Insulet – Following CEO James Hollingshead’s disclosure on Tuesday that he had purchased 5,550 shares of the medical device manufacturer, Insulet saw a 4.4% increase. Separately, the business declared Monday that it would introduce the Omnipod 5 insulin delivery device in Germany, its third market after the United States and the United Kingdom.
Box — The stock fell 10.2% in premarket trading after the cloud storage provider from California released a mixed second-quarter report on Tuesday. Refinitiv reports that Box’s revenue of $261 million was in line with Wall Street expectations, while its adjusted profits per share of 36 cents above analysts’ expectations by one penny. According to FactSet, Box provided dismal top- and bottom-line financial guidance for the current quarter as well as for full-year revenue.
Instruments for taxes — The stock of a semiconductor company fell about 2.1% before the market opened on Wednesday after Bernstein cut its rating for the shares from market perform to underperform, citing concerns with the company’s long-term plan to grow internal chip production.
Source (CNBC)
