Check out the companies making headlines before the bell:
Marvell Technology (MRVL) – The chip maker’s stock slid 4.9% in the premarket after quarterly sales and profit fell short of Wall Street estimates. Marvell also issued a weaker-than-expected outlook. Inventory reductions by its customers are hurting results, it said.
Zscaler (ZS) – The cloud security company reported a better-than-expected quarter, but its stock slumped 9.1% in premarket trading following conservative guidance. Zscaler said customers are taking longer to close new deals, and it faces other headwinds.
Horizon Therapeutics (HZNP) – The drug maker’s shares added 3.2% in premarket action after Sanofi (SNY) said that if it decided to make an offer for Horizon, it would be an all-cash offer. Horizon shares had soared 27.3% last Friday on news that it was in talks with several potential takeover partners.
DoorDash (DASH) – DoorDash shares fell 2.8% in premarket trading after RBC Capital Markets downgraded the stock to “sector perform” from “outperform.” RBC praises the delivery service’s execution and management but says it is uncomfortable with the current valuation given the potential for order deceleration.
