Check out the companies making headlines in premarket trading. Walgreens – Shares of Walgreens rose more than 2% in premarket trading after the drugstore operator posted fiscal first-quarter earnings and revenue that beat analyst expectations. Sure, Walgreens cut its quarterly dividend to 25 cents a share from 48 cents a share. APA – The oil producer fell 5% after it said it would buy Permian Basin producer Callon Petroleum in a $4.5 billion all-stock transaction, including debt. Callon, which has a market cap of $2.3 billion at Wednesday’s close, saw shares jump more than 4% in premarket trading. Eli Lilly – Eli Lilly said Thursday it has launched a website to allow patients access to weight-loss drugs through a telehealth provider. These drugs include the recently approved Zepbound. Shares rose more than 1%. Apple – Shares of the tech giant dipped 0.5% in pre-market trading after the company received another downgrade from Wall Street. Piper Sandler downgraded shares of the iPhone maker to neutral from overweight, citing valuation concerns, macro weakness and a strained phone outlook. The tech stock slipped 4% this week. Barclays cut its rating on Apple earlier this week. Yeti – The beverage brand saw shares fall more than 6% in premarket after Canaccord Genuity downgraded to hold from buy. The Wall Street firm said rival Stanley is proving to be a much tougher than expected competitor to Yeti, while Owala is also gaining attention. Cal-Maine Foods – Shares of the egg company fell more than 4% after Cal-Maine reported its fiscal second quarter results. The company’s net sales and net income both declined year over year, although this was due in part to the lower cost of eggs as sales volumes increased. Cal-Maine has a variable dividend that will come to $0.116 per share for the second quarter. Mobileye Global – Shares of the autonomous driving technology company plunged 28% in premarket trading after the firm forecast preliminary fiscal 2024 earnings below estimates. The company said it expects its customers to withdraw orders as they clear excess inventory. – CNBC’s Jesse Pound and Fred Imbert contributed reporting.
(tagsTo Translate) Mobileye Global Inc