Stocks making the most important strikes premarket: Canopy Growth, Gannett, DraftKings, Novavax and others

Check out the businesses making headlines earlier than the bell:

Canopy Growth (CGC) – The Canadian hashish producer’s shares rose 1.9% premarket after it posted an sudden quarterly revenue on rising marijuana demand and price cuts. The acquire comes whilst income falls in need of Wall Street forecasts.

Gannett (GCI) – The USA Today writer earned 10 cents per share for its newest quarter, in contrast with forecasts of a 36 cents per share loss. Revenue additionally topped Wall Street forecasts. The firm noticed digital subscriber numbers soar 41% from a yr earlier, and the inventory rallied 6.3% within the premarket.

DraftKings (DKNG) – The sports activities betting firm’s inventory jumped 3.5% premarket after it reported better-than-expected quarterly revenue and income and raised its income forecast for the total yr. DraftKings noticed vital features in a lot of key metrics, together with a 26% soar in month-to-month income per consumer.

Novavax (NVAX) – Novavax shares tumbled 11.7% in premarket buying and selling after the drugmaker mentioned it might delay in search of emergency use authorization for its Covid-19 vaccine till the fourth quarter. Novavax additionally posted a wider-than-expected loss and noticed income fall beneath Wall Street forecasts.

Didi Global (DIDI) – Didi gained 4.1% in premarket motion, following a Bloomberg report saying the China-based ride-hailing firm was contemplating giving up management of its knowledge to assist resolve a regulatory probe by the Chinese authorities.

Zillow Group (ZG) – Zillow reported adjusted quarterly earnings of 44 cents per share, 20 cents above estimates, with the true property web site operator’s income above estimates as effectively. Zillow additionally gave an upbeat progress forecast, because it scales up its home-flipping enterprise, and mentioned it expects gross sales this quarter to exceed $2 billion for the primary time. Zillow added 1.8% within the premarket.

Virgin Galactic (SPCE) – Virgin Galactic misplaced 39 cents per share for its newest quarter, 6 cents greater than anticipated, although the house flight firm did report a lot better-than-expected income. It additionally introduced it would promote seats for house tourism flights at $450,000 and up. The inventory was up 3.1% in premarket buying and selling.

Beyond Meat (BYND) – Beyond Meat slid 3.7% in premarket motion after it reported a quarterly lack of 31 cents per share, 7 cents wider than anticipated. Revenue for the maker of plant-based meat options did are available in above Street forecasts, nevertheless it gave a cautious outlook resulting from “more conservative” orders by its prospects resulting from Covid-related uncertainty.

Dropbox (DBX) – Dropbox shares gained 3.5% in premarket buying and selling after its adjusted earnings of 40 cents per share beat estimates by 7 cents and the cloud storage firm’s income got here in above forecasts as effectively.

Cornerstone OnDemand (CSOD) – Cornerstone agreed to be purchased out by personal fairness agency Clearlake Capital Group. Clearlake can pay about $3.8 billion, or $57.50 per share in money for the cloud computing agency. Cornerstone surged 13.3% within the premarket.

Zynga (ZNGA) – Zynga shares plunged 15.8% within the premarket after the cellular gaming firm gave a disappointing full-year forecast, anticipating a slowdown in gaming. Zynga additionally reported adjusted quarterly earnings of 4 cents per share, 5 cents shy of estimates, with income beneath estimates as effectively.

Carvana (CVNA) – Carvana shares rallied 11.3% in premarket buying and selling after the net used-car retailer posted an sudden revenue – its first ever – for its newest quarter. The firm’s income additionally exceeded analyst forecasts by a large margin. Auto gross sales, generally, have loved a increase in demand because the pandemic started final yr.

Yelp (YELP) – Yelp earned 5 cents per share for its newest quarter, in contrast with consensus forecasts for a 9 cents per share loss. The on-line evaluate web site operator additionally reported better-than-expected income and boosted its full-year forecast as advert income continues to strengthen. Shares surged 12.9% in premarket motion.