Find out which companies are making the headlines before the bell:
AutoNation (AN) – The auto retailer reported quarterly profit of $ 4.83 per share, well above the consensus estimate of $ 2.81. Revenue was also above consensus, with comparable new car sales up 42% from a year ago and used car sales up 37%. AutoNation added 1.1% in pre-market trading.
Cal-Maine Foods (CALM) – The nation’s largest egg producer posted an unexpected loss of 9 cents per share for its most recent quarter after analysts predicted earnings of 18 cents per share. Revenues were also lower than expected, amid falling egg prices and lower egg volume.
Tractor Supply (TSCO) – The farm equipment and services company broke estimates by 23 cents with quarterly profit of $ 3.19 per share, with revenue also exceeding analysts’ expectations. Tractor Supply also raised its outlook for the full year, but the stock fell 2.1% before market.
Pershing Square Tontine Holdings (PSTH) – Pershing Square Tontine Holdings has abandoned its plan to buy 10% of Universal Music, after regulators and investors questioned the idea of buying a minority stake through ‘a specialized acquisition company. Instead, billionaire investor Bill Ackman plans to buy the stake through his hedge fund Pershing Square.
Zoom Video Communications (ZM) – Zoom will buy cloud-based call center operator Five9 (FIVN) for $ 14.7 billion in shares, the largest acquisition ever made by Zoom. Zoom fell 2.7% in pre-market trading, while Five9 jumped 7.4%.
National Grid (NGG) – National Grid would be stripped of its responsibility to manage the British electricity grid. The Times newspaper reports that British authorities are preparing plans to assign this responsibility to an independent body, with an announcement coming as soon as this week.
Ingersoll-Rand (IR) – The industrial equipment and services company has been pushed back in its offer to enter buyout talks with manufacturing equipment maker SPX Flow (SPXC), according to people familiar with the matter who spoke to Reuters. The sources said the most recent offer per share was in the $ 80 range, which SPX Flow reportedly dismissed as inadequate.
Johnson & Johnson (JNJ) – J&J is reportedly exploring a plan to offload talc-related responsibilities at a new company that then files for bankruptcy. People familiar with the matter who spoke to Reuters said such a move could result in lower payments for those who do not resolve their cases first. J&J faces numerous claims that its baby powder and other talc-related products have caused cancer.
Tesla (TSLA) – Tesla offers customers its premium driver assistance service “FSD” on a subscription basis of $ 199 per month, rather than for an upfront payment of $ 10,000. Tesla fell 1.6% in pre-market.
Autodesk (ADSK) – Autodesk has ended buyout negotiations with Australian software maker Altium. It comes weeks after Altium rejected an offer to take over more than $ 3.7 billion from Autodesk.
Xpeng (XPEV) – Chinese electric vehicle maker has priced the base model of its new P5 electric sedan at around $ 24,700, which is lower than the price of Tesla’s new, cheaper version of its Model 3 sedan Xpeng lost 1.9% in pre-market.
AMC Networks (AMCX) – AMC will pay $ 200 million to end a lawsuit over profits from hit TV show “The Walking Dead.” He will pay $ 143 million to settle the lawsuit and pay the remainder to purchase 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.