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Thursday’s Pre-Market: Here’s What You Need to Know Before the Market Opens
Stock Analysis & Ideas

Thursday’s Pre-Market: Here’s What You Need to Know Before the Market Opens

U.S. stock futures were trending higher on Thursday as a drop in oil and gas prices offered some relief to investors’ concerns about runaway inflation. Investors are also becoming more confident that Democrats and Republicans in the U.S. will reach a deal to avert a government debt default.

Dow futures were up 0.56%, S&P futures were up 0.68%, and Nasdaq futures were up 0.92% at the time of writing.

Park Aerospace Corp. (PKE), Conagra Brands, Inc. (CAG), Tilray, Inc. (TLRY), Lamb Weston Holdings, Inc. (LW), and Helen of Troy Ltd. (HELE) are set to report their quarterly earnings before the market opens. Accolade, Inc. (ACCD) will report after the market close.

Camber Energy, Inc. (CEI) was the most active stock in the pre-market session, with 4.45 million shares changing hands at the time of writing. The increased market activity comes on the heels of a scathing report by Kerrisdale Capital that called the company a defunct oil producer for failing to file financial results since September of last year.

Cyren (CYRN) was the biggest gainer in the pre-market session, jumping 42.90% at the time of writing. The spike comes after NASDAQ granted the company a 180-day extension to meet the minimum bid price requirement.

Osmotica Pharmaceuticals Plc. (OSMT) was the biggest loser in the pre-market session, falling 32.68% at the time of writing. The sell-off comes after the specialty pharmaceutical company announced an underwritten public offering of its ordinary shares.

In M&A news Twitter, Inc. (TWTR) has reached an agreement for the sale of its mobile ad unit MoPub for $1.05 billion to marketing software company AppLovin. The sale should allow the social networking company to focus on its own products and accelerate growth by focusing on key areas of its service. Last year, MoPub generated $188 million in revenue.

Tesla, Inc. (TSLA) has announced a $2,000 price increase for its Model 3 Standard Range Plus electric vehicle that will now cost $41,990. The Model 3 Performance will also cost $1,000 more as part of the new price changes. The Model Y Long Range series will cost $1,000 more ta $54,990. The price bump comes after the automaker reported blockbuster third-quarter vehicle deliveries.

AT&T, Inc. (T) is teaming up with Frontier Communications to offer fiber-optic connectivity to enterprises. The two have inked a multi-year strategic agreement that will pave the way for the deployment of AT&T’s 5G mobility network to reach about 2.5 million customer locations by the end of 2021 and 30 million by 2025.

Shares of Levi Strauss & Co. (LEVI) popped 3.7% after the American clothing brand delivered better-than-expected third-quarter results. Adjusted earnings were up 500% to $0.48 a share, exceeding consensus estimates of $0.37 per share. Net revenue climbed 41% to $1.50 billion, beating consensus estimates of $1.46 billion.

Meanwhile, RPM International (RPM) also popped 2.55% after the company delivered mixed Fiscal 2022 first-quarter results. Net sales were up 2.7% year-over-year to $1.65 billion. Diluted earnings per share dropped to $1.04 per share compared to $1.39 delivered the same quarter last year.

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