Wednesday Pre-Market Look: Stocks In The News Before The Open

Eli Lilly (LLY) tanked 12% in pre-market trading after its solanezumab drug did not meet the primary endpoint in a Phase 3 study in people with mild dementia due to Alzheimer’s disease.

GameStop (GME) lost almost 1% in after-hours trading after it reported Q3 revenue of $1.96 billion, less than consensus of $1.99 billion.

Urban Outfitters (URBN) fell 8% in after-hours trading after it reported Q3 EPS of 40 cents, weaker than consensus of 44 cents.

Hewlett Packard Enterprise (HPE) lost over 1% in after-hours trading after it reported Q4 net revenue of $12.5 billion, below consensus of $12.8 billion.

Nimble Storage (NMBL) shed 8% in after-hours trading after it said it sees a Q4 adjusted loss per share of 013 cents to -15 cents, a wider loss than consensus of -12 cents.

HP Inc. (HPQ) slid over 2% in after-hours trading after it said it sees Q1 adjusted EPS of 35 cents-38 cents, below consensus of 38 cents.

Veeva Systems (VEEV) rose over 5% in after-hours trading after it reported Q3 adjusted EPS of 22 cents, above consensus of 16 cents, and then raised guidance on fiscal 2017 adjusted EPS to 68 cents from an August 30 view of 60 cents-61 cents.

Deere & Co (DE) rose nearly 3% in pre-market trading after it reported Q4 EPS of 90 cents, well above consensus of 39 cents, and then raised its full-year EPS view to $4.43 from a prior view of $3.84.

Cognizant Technology Solutions (CTSH) was downgraded to ‘Market Perform’ from ‘Outperform’ at William Blair.

McKesson Corp (MCK) was downgraded to ‘Underperform’ from ‘Neutral’ at Credit Suisse with a price target of $131.

Carnival (CCL) was upgraded to ‘Outperform’ from ‘Market Perform’ at Bernstein with a 12-month target price of $63.

Norwegian Cruise Line Holdings Ltd (NCLH) was downgraded to ‘Market Perform’ from ‘Outperform’ at Bernstein.

Madison Square Garden (MSG) — Madison Square Garden reported a credit card breach for the Garden itself, as well of several of its other venues, including Radio City Music Hall and the Beacon Theater in New York.

Alphabet (GOOGL) — The company’s Google unit is near a tax settlement with the Indonesian government, according to a Reuters report. Google will reportedly agree to pay back taxes and fines, and to a new calculation of profits earned in the country.

Facebook (FB) — Facebook is developing a censorship tool aimed at persuading China to allow the social network to re-enter the market, according to a New York Times report. Facebook has been banned in China for the past seven years.

Amazon.com (AMZN) — Amazon could be impacted by a pilots strike at ABX Air, an express cargo airline that carries packages for Amazon and DHL Express. 250 pilots represented by the Teamsters union went on strike Tuesday.

Source: BarChart, CNBC, FoxBusiness, Bloomberg, Reuters, AP