Check out the companies making headlines before the bell:
Gap (GPS) – Gap rallied 6% in premarket trading after the clothing retailer reported an unexpected quarterly profit. Gap’s results were helped by a jump in sales of dressier clothes at its Banana Republic chain as more people returned to offices.
Affirm Holdings (AFRM) – Affirm slumped 13.5% in the premarket following a larger than expected quarterly loss and a weaker than expected outlook. The provider of buy now, pay later services saw revenue top Street forecasts.
Seagen (SGEN) – Seagen shares slid 10.9% in premarket action following a Bloomberg report that talks for the drug maker to be bought by Merck (MRK) have stalled. People familiar with the matter say the two sides have so far failed to agree on a buyout price.
Everbridge (EVBG) – Everbridge jumped 14.3% in the premarket on a report that the enterprise software company is exploring strategic options including a possible sale. People with knowledge of the matter told Bloomberg the company is working with an adviser.
Dell Technologies (DELL) – Dell fell 5.5% in premarket trading after quarterly revenue fell below analyst estimates, as sales waned following a pandemic-era boom in PC sales. Dell reported better than expected earnings for its latest quarter.
Farfetch (FTCH) – Farfetch surged 14.1% in the premarket after the online luxury retailer reported a smaller than expected quarterly loss and revenue that topped analyst forecasts.
Workday (WDAY) – Workday rallied 11.5% in premarket action after its quarterly profit and revenue topped estimates. Workday also issued an upbeat forecast as more customers adopt its human resources and finance software.
Ulta Beauty (ULTA) – The cosmetics retailer reported better than expected results for its latest quarter and also issued an upbeat outlook, upholding a recent trend among beauty-related companies. Ulta added 3.8% in the premarket.
Micro Focus (MFGP) – Micro Focus nearly doubled in off hours trading, rising 94.3% following news that the British enterprise software maker will be bought by Canadian software company OpenText (OTEX) in an all cash deal that values the company at $6 billion, including debt. OpenText shares fell 8.5%.