Biogen (BIIB) – Biogen fell 1% in preliminary trading after the government announced that Medicare would cut coverage for Aduhelm, the treatment for Biogen’s Alzheimer’s disease. Coverage will only be provided for patients enrolled in clinical trials. Spirit Airlines (SAVE) – Spirit has said it will begin talks with JetBlue (JBLU) over its $ 3.6 billion takeover bid. Spirit had agreed earlier this year to take over from parent company Frontier Airlines Frontier Group (ULCC), but said JetBlue’s offer could lead to a “superior offer”. Spirit rose 1.4% in pre-orders, while JetBlue added 1% and Frontier jumped 2.5%. Robinhood Markets (HOOD) – The financial services and trading platform operator’s share fell 4.1% before buying, after Goldman Sachs downgraded it to “sell” from “neutral”. Goldman believes that consensus estimates for Robinhood are very high and sees a high bar for the company to be profitable in 2023. WD-40 (WDFC) – The WD-40 rose 9.5% in premarket after better-than-expected quarterly earnings and revenue. The lubricant maker earned $ 1.41 a share for the quarter, 40 cents above estimates, although it slightly reduced its guidance for the year due to inflationary challenges. Designer Brands (DBI) – The shoe and accessories retailer increased its year-over-year profit prospects and restored its quarterly dividend after a two-year hiatus. The optimistic forecast comes in anticipation of the company’s annual investor day. The share of Designer Brands jumped 4.6% in the premarket. Kroger (KR) – The supermarket manager’s share added 2.6% to pre-market action after Bank of America Securities upgraded it to a “neutral” market. BofA said rising food inflation would be among many upward driving gains. CrowdStrike (CRWD) – CrowdStrike rose 3.7% in pre-market activity after the cloud computing company received authorization to protect critical US Department of Defense assets. Workday (WDAY) – The financing and human resources software company has entered into a new $ 1 billion credit agreement with lenders, replacing a previous credit agreement. PriceSmart (PSMT) – PriceSmart was up 3 cents at a quarterly earnings of $ 1.03 per share and the retailer’s discounted earnings were slightly higher than Wall Street forecasts. Merchandise sales exceeded $ 1 billion for the first time and membership levels also hit a record.
