See which businesses are leading the way in premarket trading:
Oracle: Following the announcement of agreements with Google and OpenAI, the cloud services provider saw a gain of around 8%. Beginning in November, Oracle intends to make its database accessible to Google Cloud. In addition, it hopes to collaborate with Microsoft and OpenAI to provide more processing power.
Paramount Global – David Faber, shares dropped 2.3% after National Amusements called off negotiations with Skydance on a possible merger with Paramount.
Birkenstock: The stock fell 2.7% after Goldman Sachs downgraded it from a buy recommendation to neutral. The German shoe manufacturer has an attractive investment thesis, but its shares have underperformed the broader luxury peer group. Up almost 21% so far this year is Birkenstock.
Rentokil Initial: Following news that Nelson Peltz’s Trian Partners had acquired a sizeable stake in the British pest control company, the stock of the U.S.-listed company saw a 12% increase.
Klaviyo: The marketing automation company’s stock increased by over 4% after Barclays upgraded it from equal weight to overweight. Klaviyo was dubbed a “rare bright spot among peers” by the company.
Rubrik — After exceeding revenue projections for the quarter, the cloud data management company’s shares increased by 3.5%. Revenue was $187 million as opposed to the $172 million analysts surveyed by LSEG had predicted.
Broadcast Communications Prior to Broadcom’s quarterly earnings release on Wednesday following the bell, the stock increased by 1.7%. This year, shares have soared more than 30% like wildfire.
General Stores Casey’s — Following the company’s earnings and revenue beat postmarket on Tuesday, shares increased by 5%. Earnings per share were $2.34 as opposed to the $1.72 that FactSet’s panel of analysts had predicted. Compared to the consensus forecast of $3.74 billion, revenue was $3.60 billion.
Source (CNBC)
