Levi Strauss wears a Co. label on jeans at a store at Woodbury Common Premium Outlets in Central Valley, N.Y., U.S., Feb. 15, 2022.
Andrew Kelly | Reuters
Take a look at the companies with the biggest moves before the market:
Levi Strauss — Shares fell 7.7 percent on Thursday after the apparel retailer slashed its full-year profit forecast. Levi’s now expects adjusted earnings per share of $1.10 to $1.20 for the year, down from a previous forecast of $1.30 to $1.40. Analysts had expected adjusted earnings of $1.29 a share, according to Refinitiv.
Biogen — The biotech stock resumed trading before the market opened on Friday after trading was suspended on Thursday on news of the U.S. Food and Drug Administration’s approval of Biogen and Esai’s Alzheimer’s treatment Lequembi. Medicare also announced it would pay for the treatment. Shares rose 0.3 percent.
alibaba — Shares of the U.S.-listed Chinese e-commerce retailer rose about 3% before the open. on Friday, Reuters reports Its subsidiary Ant Group faces a $1.1 billion fine from Chinese authorities, which could clear the way for Ant to obtain the necessary licenses and eventual listing. Also on Friday, Alibaba launched the artificial intelligence tool “Unify Vientiane”.
first solar corp. – Shares rose 1.7% after the solar company took a stake $1 billion five-year revolving credit and guarantee facility. JP Morgan will act as lead arranger.
bloom energy — Shares of Bloom Energy rose 2 percent in premarket trading. RBC Capital Markets has an outperform rating on the electricity and hydrogen company, saying the stock could rise more than 50% due to strong demand for fuel cells.
costco — Shares of the club retailer fell 0.7% after hours Thursday after Costco reported retail sales of $22.86 billion in June, up just 0.4% from a year earlier. Comparable sales in the U.S. fell 2.5% year-over-year.
tesla — Shares fell slightly The following reports Tesla announced new cash rebates in China and laid off some workers in Shanghai.
Yuan — Shares rose 0.3 percent a day after Facebook parent said its Twitter rival Threads, which launched on Wednesday, has more than 30 million users.Twitter writes to Meta after debut, accusing it of “systematic” and “illegal misappropriation” of trade secrets
—CNBC’s Jesse Pond and Sarah Min contributed reporting.
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