Check out the companies that make the headlines before the doorbell rings:
AutoNation (AN) – The auto dealer reported quarterly earnings of $ 4.83 per share, well above the consensus estimate of $ 2.81. Revenue was also above consensus, with new car sales in the same store up 42% year over year and used car sales up 37%. AutoNation gained 1.1% in pre-trading.
Cal-Maine Foods (CALM) – The country’s largest egg producer posted an unexpected 9 cents per share loss last quarter after analysts predicted earnings of 18 cents per share. Sales also fell short of forecasts due to lower egg prices and a decline in egg volume.
Tractor Supply (TSCO) – The agricultural machinery and services company beat estimates by 23 cents with quarterly earnings of $ 3.19 per share and revenue that was also above analysts’ forecasts. Tractor Supply also raised its full-year outlook, but the stock lost 2.1% early on.
Pershing Square Tontine Holdings (PSTH) – Pershing Square Tontine Holdings has dropped plans to buy 10% of Universal Music after regulators and investors questioned the idea of buying a minority stake through a special purpose vehicle. Instead, billionaire investor Bill Ackman plans to buy the stake through his hedge fund Pershing Square.
Zoom Video Communications (ZM) – Zoom will purchase cloud-based call center operator Five9 (FIVN) for $ 14.7 billion in shares, which is Zoom’s largest acquisition to date. Zoom fell 2.7% in pre-trading while Five9 was up 7.4%.
National Grid (NGG) – National Grid is reportedly being relieved of its responsibility for the operation of the UK electricity network. The Times reports that British officials are preparing plans to transfer this responsibility to an independent body, which will be announced earlier this week.
Ingersoll-Rand (IR) – The industrial equipment and services company has been turned down in its offer to initiate acquisition talks with manufacturing equipment manufacturer SPX Flow (SPXC), according to people familiar with Reuters. Sources said the most recent offer-per-share was at the low of $ 80, which SPX Flow allegedly dismissed as insufficient.
Johnson & Johnson (JNJ) – J&J is reportedly considering a plan to outsource talc-related liabilities to a new company that would file for bankruptcy. People familiar with the matter who spoke to Reuters said such a move could result in lower payouts to those who fail to resolve their cases beforehand. J&J has faced numerous allegations that its baby powder and other talc-related products caused cancer.
Tesla (TSLA) – Tesla is offering its premium driver assistance service, FSD, to customers on a subscription basis for $ 199 per month instead of an upfront payment of $ 10,000. Tesla lost 1.6% in the premarket.
Autodesk (ADSK) – Autodesk has closed takeover talks with Australian software manufacturer Altium. It did so several weeks after Altium rejected a takeover bid from Autodesk worth more than $ 3.7 billion.
Xpeng (XPEV) – The China-based electric vehicle maker put the base model of its new P5 electric sedan at around $ 24,700, undercutting the price of Tesla’s newly launched lower-priced version of its Model 3 sedan. Xpeng lost 1.9% in the premarket.
AMC Networks (AMCX) – AMC pays $ 200 million to end a lawsuit over profits from hit TV show “The Walking Dead”. It is paying $ 143 million to settle the lawsuit and the rest to buy the remaining rights to the show from executive producer Frank Darabont and the Creative Artists Agency.
CORRECTION: This article has been updated to correct the spelling of Cal-Maine Foods.