Check out the companies making headlines before the bell:
Delta Air Lines (DAL) – Delta gained 6.6% premarket after reporting a smaller-than-expected quarterly loss and forecasting a current-quarter profit. The airline also said monthly revenue in March surpassed pre-pandemic levels for the first time.
JPMorgan Chase (JPM) — The bank reported quarterly earnings of $2.63 per share, down 6 cents from estimates, despite earnings beating Wall Street forecasts. JPMorgan’s profit fell 42% year over year as transaction volume slowed and trading revenue fell. The stock fell 1.1% premarket.
Bed Bath & Beyond (BBBY) – The home goods retailer reported an adjusted quarterly loss of 92 cents per share, compared to analyst expectations of 3 cents per share. Bed Bath & Beyond implemented price increases during the quarter, but not enough to offset an increase in shipping costs and other adverse factors. Bed Bath & Beyond shares plunged 8% in premarket trading.
BlackRock (BLK) – The asset management firm reported adjusted quarterly earnings per share of $9.52, compared to the consensus estimate of $8.75. Sales were essentially in line with forecasts. BlackRock was supported by a surge in inflows as assets under management rose to $9.57 trillion from just over $9 trillion a year earlier.
Antares Pharma (ATRS) — The specialty pharmaceutical company’s stock is up 48.7% in premarket trading after it agreed to be purchased by Halozyme Therapeutics (HALO) for $960 million, or $5.60 per share in cash will.
PayPal Holdings (PYPL) – PayPal’s chief financial officer John Rainey is leaving the payments company to assume the same role at Walmart (WMT), effective June 6. Rainey will replace Brett Biggs, who has been CFO since 2015. PayPal slipped 3.5% premarket action.
Sierra Oncology (SRRA) — The drug developer agreed to be bought by GlaxoSmithKline (GSK) for $1.9 billion, sending its shares higher by 37.5% in premarket trading, while Glaxo’s stock tumbled 1.1% up.
Charles Schwab (SCHW) – Shares of the brokerage firm rose 1% in premarket trading after Morgan Stanley called it a “top pick,” saying Schwab will benefit from rising interest rates and is attractively valued relative to its peers.