Premarket Movers Thursday: Rite Aid, Marin Software, Eli Lilly
Stock futures traded higher Thursday as Wall Street weighed continued Federal Reserve support and awaited a batch of U.S. economic data.
Here are some of the top movers during premarket trading on Thursday:
1. Rite Aid | Down 15%
Ride Aid (RAD) - Get Report dropped after the company forecast fiscal 2022 guidance below analysts' estimates.
The company said it now projects an adjusted loss between 79 cents and 24 cents A share on revenue between $25.1 billion and $25.5 billion.
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Visa to Buy Swedish Open Banking Platform Tink for $2.15 Billion
Visa, looking to expand its reach in financial services, agreed to pay $2.15 billion for Tink, the Stockholm open banking platform.
Analysts expect earnings of 64 cents a share on revenue of $24.7 billion.
2. Marin Software | Up 59.1%
Marin Software (MRIN) - Get Report surged after the company said its ad management platform now lets users manage Instacart ads, something that allows brands to connect with customers more directly at the point of sale.
Instacart is an online grocery platform that delivers groceries and other items from nearly 55,000 stores located in the U.S. and Canada.
3. Eli Lilly | Up 8.2%
Shares of Eli Lilly (LLY) - Get Report climbed after the pharmaceutical giant said the Food and Drug Administration granted the company's Alzheimer’s treatment, donanemab, a breakthrough therapy designation, meant to expedite the development and review of medicines for serious or life-threatening conditions.
Earlier this month, aducanumab, Biogen's (BIIB) - Get Report Alzheimer's disease drug, received FDA approval.
4. KB Home | Down 3.4%
Shares of KB Home (KBH) - Get Report fell after the homebuilding company beat Wall Street's second-quarter earnings expectations but came up short on revenue.
The company posted earnings of $1.50 a share, beating analysts' estimates on $1.33.
Revenue totaled $1.44 billion, missing analysts' expectations of $1.48 billion.
5. Roku | Up 2.2%
Roku (ROKU) - Get Report, along with ViacomCBS (VIACA) - Get Report, was advancing after The Wall Street Journal reported that Comcast (CMCSA) - Get Report CEO Brian Roberts has considered a transaction with ViacomCBS or an acquisition of Roku.
Comcast said the discussions were "pure speculation."
