Stocks making the biggest moves premarket: Charter Communications, Doximity, Novo Nordisk and more
Check out the companies making headlines before the bell. Charter Communications — The cable stock rose 7% after Charter agreed to merge with rival Cox Communications . The combined company will change its name to Cox Communications within a year. Constellation Brands — Shares popped 3.4% after Berkshire Hathaway disclosed doubling its stake in the beer importer. Warren Buffett’s position is now worth around $2.2 billion. Applied Materials — The semiconductor manufacturer shed 5% after reporting fiscal second-quarter revenue of $7.10 billion, which came below the $7.13 billion analysts polled by LSEG had expected. Semiconductor revenue of $5.26 billion also disappointed the $5.31 billion analysts were looking for. Take-Two Interactive Software — Shares fell 1.3% after the video game company issued weaker-than-expected guidance for full-year bookings. The company expects the figure to come between $5.9 billion and $6 billion, missing the $7.82 billion StreetAccount consensus. For the current quarter, Take-Two projected bookings of between $1.25 billion and $1.30 billion, while analysts had penciled in $1.28 billion. Cava — The company said it expected same restaurant sales growth to moderate during the year. Cava reported 10.8% sales growth at comparable locations in the first quarter, but maintained a full-year projection of 6% to 8% improvement in that category. The decline came even though first-quarter earnings per share of 22 cents came in above analyst estimates of 14 cents, according to LSEG. Shares were little changed. Doximity — The stock tumbled 19% after the health-care platform issued disappointing guidance. Doximity anticipates first-quarter adjusted EBITDA to range between $71 million and $72 million, less than the $74 million consensus estimate, per StreetAccount. Revenue guidance for both the first quarter and full year also fell short of expectations. Vistra Corp – The independent power producer’s stock jumped more than 5% after it bought seven natural gas facilities from Lotus Infrastructure Partners for $1.9 billion. The gas plants are located in the PJM market, New England, New York and California. Novo Nordisk — The pharmaceutical stock slipped 5% after CEO Lars Fruergaard Jørgensen announced he would step down from his position , citing recent market challenges. Jørgensen will remain in his position “for a period to support a smooth transition to new leadership” as Novo Nordisk searches for a replacement. — CNBC’s Michelle Fox, Spencer Kimball and Jesse Pound contributed reporting.
