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

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U.S. stock futures were down on Friday as caution gripped the market amid fears that the Omicron variant could disrupt the global economic recovery. Focus in the market is on the release of U.S employment data for November.

Dow futures (DJIA) were down 0.15%, S&P futures (SPX) were down 0.23% and Nasdaq futures (NDX) were down 0.30% at the time of writing.

Upcoming Earnings

Airsculpt Technologies, Inc. (AIRS), Bank Of Montreal (BMO), Canadian Western Bank (CBWBF), Dole (DOLE), RLX Technology (RLX), and Hibbett Sports (HIBB) are set to report their quarterly results before the market opens.

Pre-Market Movers

DiDi Global (DIDI) was the most active stock in the pre-market session, with 4.24M shares changing hands at the time of writing. The increased market activity follows a confirmation that the company is poised to delist from the New York Stock Exchange

Duckhorn Portfolio (NAPA) was the biggest gainer in the pre-market session, jumping 28.48% at the time of writing. It is still unclear what is causing the stock to spike as no fundamental news has been released to justify the surge.

DocuSign, Inc. (DOCU) was the biggest loser in the pre-market session, falling 32.02% at the time of writing. The sell-off comes on the company delivering upbeat third-quarter results but issuing disappointing fourth-quarter guidance.

Market News

Omnicell, Inc. (OMCL) has entered into an agreement to acquire specialty pharmacy management service provider ReCept Holdings for $100 million. The acquisition should allow the medication management solutions provider to broaden its offerings in the pharmacy management service space.

CVS Health Corporation (CVS) has inked a strategic partnership with Microsoft. The two are joining forces to develop innovative solutions to make the process of accessing healthcare solutions more efficient. The alliance is expected to enable a data-driven and personalized experience for consumers, as Microsoft Azure will make work easier for technicians and the use of Microsoft Teams and Office products will help in addressing customer issues more effectively.

Shares of The Kroger Co. (KR) popped 11% after the Ohio-based retailer delivered upbeat third-quarter results. Adjusted earnings landed at $0.78 a share, beating consensus estimates of $0.66 a share and above a year-ago figure of $0.71 a share. Total sales jumped to $31.9 billion from $29.7 billion in the same quarter last year, surpassing consensus estimates of $31.23 billion

DocuSign, Inc. (DOCU) fell 29.7% during the extended trading session after the company delivered weaker-than-expected guidance for the fourth quarter and Fiscal Year 2022. Quarterly earnings were up 163.6% year-over-year to $0.58 a share, beating consensus estimates of $0.46 a share. Revenue during the quarter jumped 42% year-over-year to $545.46 million, exceeding consensus estimates of $530.63 million.

Marvell Technology, Inc. (MRVL) rose 16.2% after the infrastructure solutions provider delivered solid fiscal third-quarter 2022 results and provided upbeat fourth-quarter guidance. Adjusted earnings landed at $0.43 a share, beating consensus estimates of $0.38 a share. Total revenue jumped 61% year-over-year to $1.21 billion, topping consensus estimates of $1.15 billion.

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