PepsiCo, Intel, Philips and extra

Try the businesses making headlines earlier than the bell:

PepsiCo (PEP) – The snack and beverage maker reported an adjusted quarterly revenue of $1.97 per share, 13 cents above estimates, with income additionally topping forecasts. PepsiCo was in a position to efficiently increase costs on its merchandise and raised its steering for the yr. The inventory gained 2.4% within the premarket.

Intel (INTC) – Intel added 1% in premarket buying and selling following a Bloomberg report that the chip maker was planning to chop 1000’s of jobs to cope with a slumping private laptop market. Intel had 113,700 staff as of July.

Philips (PHG) – Philips shares slumped 8.1% within the premarket after the Dutch well being know-how firm mentioned its third-quarter core revenue can be down about 60% from a yr in the past. The corporate additionally mentioned it might take a virtually $1.3 billion cost towards the worth of its troubled respiratory care enterprise.

Cameco (CCJ) – The uranium producer and energy plant operator Brookfield Renewable Companions (BEP) will purchase nuclear energy gear maker Westinghouse Electrical in a deal price $7.9 billion, together with debt. Cameco tumbled 11.5% in premarket motion, whereas Brookfield was unchanged.

Diamondback Power (FANG) – Diamondback Power introduced a deal to purchase vitality producer FireBird Power for $1.6 billion in money and inventory. Diamondback fell 1% within the premarket.

El Pollo Loco (LOCO) – El Pollo Loco shares rallied 15.2% in premarket motion after the restaurant operator introduced a $1.50 per share particular dividend and a inventory repurchase program price as much as $20 million.

CME Group (CME) – The alternate operator’s inventory was upgraded to purchase from maintain at Deutsche Financial institution, citing a beautiful valuation after shares fell 33% from March’s 52-week excessive. CME added 1.2% in premarket motion.

Lyft (LYFT) – Lyft gained 4.3% within the premarket after Gordon Haskett upgraded the inventory to purchase from maintain. The agency mentioned the ride-hailing service’s inventory is now attractively valued and an enhancing driver provide and different components ought to assist Lyft’s outcomes. The inventory tumbled yesterday after the Labor Division issued a brand new proposal that will classify drivers as staff quite than contractors.

Norwegian Cruise Line (NCLH) – Norwegian jumped 3.5% in premarket buying and selling after being upgraded to purchase from impartial at UBS, which famous a major enchancment in bookings for the cruise line.

KnowBe4 (KNBE) – The cybersecurity agency is near finalizing a deal to be purchased by personal fairness agency Vista Fairness Companions for about $4.5 billion, in accordance with individuals aware of the matter who spoke to the Wall Road Journal. KnowBe4 inventory surged 12.3% in premarket motion.