Nike, Micron, Amylyx and others

News Update – Pre-Markets

Check out the businesses making headlines earlier than the bell:

Nike (NKE) – Nike slumped 10% within the premarket after it reported a 44% improve in inventories for its newest quarter, and mentioned it might supply extra reductions heading into the vacation season. The athletic footwear and attire maker reported better-than-expected revenue and income for its newest quarter.

Micron Technology (MU) – Micron gained 1.5% within the premarket after it beat estimates with its newest quarterly earnings, whilst gross sales fell under forecasts. The chipmaker additionally issued a weaker-than-expected income outlook and mentioned gross sales are being impacted by waning demand for shopper electronics.

Amylyx Pharmaceuticals (AMLX) – Amylyx surged 9.3% within the premarket after the FDA permitted its new ALS drug. The remedy slows the development of the illness, extends survival, and is the primary ALS drug to realize FDA approval in 5 years.

Rent-A-Center (RCII) – Rent-A-Center tumbled 18.1% within the premarket after the rent-to-own firm reduce its current-quarter earnings steerage. The firm mentioned present economic circumstances have impacted retail visitors and buyer fee patterns.

Blue Apron (APRN) – The meal package firm’s shares initially fell in premarket motion following information that Chief Financial Officer Randy Greben will step down on October 17 to take a place with one other firm. However, it subsequently erased these losses and rose 2.7%.

Generac (GNRC) – Generac added 1.6% in premarket trading after Cowen started protection on the facility tools maker with an outperform score. Cowen mentioned a housing market slowdown and economic uncertainty are already priced into the inventory.

Voya Financial (VOYA) – The financial providers firm’s inventory was upgraded to obese from impartial at Piper Sandler, citing numerous components together with engaging valuation and a product portfolio that advantages from inflation. Voya added 1.2% in premarket motion.

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