Shopify –The e-commerce platform reported-better-than expected quarterly results and also announced the sale of parts of its fulfillment operation as well as its logistics division. Shopify surged 15.6% in the premarket.
First Horizon –The banking and financial services company’s stock plunged 46% after First Horizon and Toronto Dominion Banksaid they had called off their $13.4 billion takeover deal. The companies cited uncertainty over whether regulatory approvals could be obtained in a timely manner.
Qualcomm – Qualcomm slumped 7.7% in premarket trading after the chipmaker issued a weaker than expected current quarter forecast, hurt by sagging smartphone sales. Qualcomm did report better than expected revenue for its latest quarter, with earnings matching Wall Street estimates.
Shake Shack – Shake Shack jumped 7% in the premarket after it reported a smaller than expected quarterly loss, with revenue and same-restaurant sales exceeding Wall Street forecasts.
Tripadvisor – Tripadvisor stumbled 6.1% in premarket action after its adjusted quarterly profit came in short of analyst forecasts, although the online travel website operator did see better than expected revenue. TripAdvisor did report a wider overall loss due to the impact of tax expenses related to an IRS settlement.
SolarEdge Technologies – SolarEdge staged a 10.3% premarket rally, with the solar products maker reporting better-than-expected earnings and revenue and saying supply chain issues have gradually improved.
Arconic – Arconic soared 27.5% in premarket trading after the industrial parts maker agreed to be acquired by private equity firm Apollo Global for $30 per share in cash.