Here are the stocks generating news before Wall Street’s opening bell.
Solaredge Technology — The green energy stock dropped more than 17% after announcing a new debt offering. Solaredge announced it will raise $300 million in convertible notes due in 2029.
Pool Corp – Shares fell 12.4% after the wholesale pool supplies distributor reduced its full-year earnings forecast after the market closed Monday.
Sea Limited — U.S. shares of the Singapore-based consumer internet stock fell 3.9% after JPMorgan downgraded it to neutral from overweight.
Penn Entertainment — Shares of the casino operator and online gaming platform fell 2% after Raymond James downgraded it to market perform from outperform, stating that the “current valuation is appropriate” following recent advances.
Walt Disney — Goldman Sachs launched coverage of the media stock with a buy, citing the company’s sports rights portfolio and theme parks as advantages.
Disney stock gained by less than 1%. Microsoft’s shares dipped less than 1% after the European Union accused the company of violating competition laws with its bundled software packages.
Enerpac Tool Group — The industrial supplies company’s stock slumped more than 9% after announcing a year-over-year revenue decline in the fiscal third quarter. The company also cut its net sales projection for the year from $585 million to $590 million. Previous estimates ranged from $590 million to $605 million.
Source (CNBC)
