Check out the companies making headlines before the bell:
Biogen (BIIB) – Biogen soared 45.6% in premarket trading after Biogen and Japanese partner Eisai said their experimental Alzheimer’s drug dramatically slowed the disease’s progression in a study, reducing cognitive and functional decline by 27%.
Thor Industries (THO) – Thor Industries gained 3.6% in the premarket after the recreational vehicle maker reported better-than-expected profit and revenue for its latest quarter. Thor saw particular strength in its motorized RV segment, with a 24.5% gain over the prior year.
Lyft (LYFT) – Lyft said it would freeze hiring through the end of this year. That follows the ride-hailing company’s previous statement that it would slow hiring “dramatically” as it seeks to cut costs. Lyft slid 2.5% in premarket trading.
Apple (AAPL) – Apple is said to be backing off plans to increase production of its new iPhone 14 line, according to people familiar with the matter who spoke to Bloomberg. That comes after an anticipated surge in demand failed to materialize. Apple declined 3.7% in premarket action.
Ocugen (OCGN) – Ocugen surged 8.2% in premarket trading after the drug maker announced a licensing agreement with Washington University in St. Louis to develop, commercialize and manufacture its intranasal Covid-19 vaccine.
Walt Disney (DIS) – Walt Disney is shutting its four Florida theme parks and related properties as the state braces for Hurricane Ian, which was upgraded to a Category 4 storm this morning.
BlackBerry (BB) – BlackBerry reported a smaller-than-expected quarterly loss and revenue that exceeded analyst forecasts, but the communications software company’s cybersecurity revenue fell amid cautious spending by customers.
Canopy Growth (CGC) – Canopy Growth announced plans to divest its retail operations in Canada, selling stores to partner OEG Retail Cannabis and cannabis retailer 420 Investments. The sales come after the cannabis producer announced earlier this year that it was extending its time frame to achieve profitability. Canopy Growth shares slipped 1.8% in the premarket.
(With inputs from CNBC)
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