Take a look at some of the biggest movers in the premarket:
BioNTech (BNTX) – Shares of the drugmaker fell 3.4% premarket despite better-than-expected quarterly earnings and sales. Results fell sharply year over year, with both profit and revenue down more than 40% from the third quarter of 2021.
Berkshire Hathaway (BRK.b) – Berkshire Hathaway is up 1.5% in premarket trading after Warren Buffett’s firm reported better-than-expected earnings, with earnings also beating Street’s forecasts. However, Berkshire reported an overall loss as a falling stock market hurt the value of its investment portfolio.
Meta Platforms (META) – Meta gained 2.6% in premarket after The Wall Street Journal reported that Facebook’s parent is preparing to announce large-scale layoffs this week.
Apple (AAPL) – Apple shares slipped 1.8% in the premarket after it was revealed that Covid-19 restrictions are hampering iPhone production at Foxconn’s factory in China. This factory is the world’s largest iPhone manufacturing facility.
Yamana Gold (AUY) – Yamana Gold fell 2.7% premarket after Gold Fields (GFI) said it would not change the terms of its acquisition agreement with Yamana. Agnico Eagle Mines (AEM) and Pan American Silver (PAAS) submitted a competing bid on Friday, but Gold Fields claims its bid is superior.
Ouster (OUST) – The lidar sensor maker will join forces with competitor Velodyne (VLDR) in a merger of equals, with Ouster and Velodyne shareholders each owning 50% of the combined company. Ouster is up 5.1% premarket, while Velodyne is up 5.6%.
Ryanair (RYAAY) — The airline’s stock gained 6.2% in premarket trading after reporting its biggest-ever earnings for the first half.
DoorDash (DASH) – Shares in the delivery service received a rating from perform to outperform at Oppenheimer, which indicated, among other things, improved margins at US restaurants. DoorDash is up 2.7% in premarket trading.
Okta (OKTA) – The identity management software maker is up 3.9% in the premarket after Guggenheim upgraded its stock to a buy from neutral. It called the stock’s current valuation “too compelling to ignore.”