Check out the companies making headlines before Tuesday’s bell.
XeMax – Shares of the car retailer rose 7% on better-than-expected quarterly earnings. CarMax earned 44 cents per share, beating Refinitiv’s forecast of 24 cents per share.
Newmont — Stocks lost 2.9% in early morning trading upon news that Newmont raised the price suggested in its report. offer to get Australia’s Newcrest Mining for $19.5 billion, 16% more than Newmont’s original bid. If the deal goes through, it will further secure Newmont’s position as the world’s largest gold producer.
start — Upstart fell about 2% after JPMorgan started reporting on lending stocks with lower ratings, citing the worsening lending environment.
Whirlpool — Stocks up more than 2% after Goldman Sachs upgrade Whirlpool to buy from neutral. The bank said equipment shares are cheap and could rise more than 20%.
modern The biotech giant fell 4.9% after the company said it was delaying a flu vaccine due to a lack of late-stage trial sign-ups. The news comes after a company spokesperson told CNBC on Monday that Moderna hopes to Launching a series of new vaccines target cancer, heart disease, and other unconfirmed conditions by 2030.
loan club — Lending platforms surged 4.8% after JPMorgan started covering overweight stocks. The bank said LendingClub’s recent sell-off may have been too harsh as investors grew increasingly worried about financial institutions and the possibility of a recession.
Buzz — Shares of the matchmaking company jumped 1% after Baird started covering Bumble and rated it outnumbered, noting that the stock has lagged behind the S&P 500 this year and is now trading at a “relatively cheap” valuation. The company has assigned a $23 price target for Bumble, suggesting the stock could rise more than 23%.
Array technology — Shares of the solar technology company jumped 2% after Wolfe Research started covering the Array with an outsized rating. Wolfe said in a note to customers that Array will benefit from expanding utility-scale solar production.
international world war – Shares jumped more than 28% after Goldman Sachs said the company that lost weight could triple in value. “WW’s subscriber numbers and earning potential are shrinking, but we believe the catalyst for change has emerged with the new obesity drug solution,” Goldman said.
— Brian Evans, Alex Harring, Sarah Min, Samantha Subin and Jesse Pound of CNBC contributed reporting.
