Biogen, Thor Industries, Lyft and more

News Update - Premarkets

Check out the companies making headlines before the bell:

Biogen ( BIIB ): Biogen soared 45.6% in premarket trading after Biogen and Japanese partner Eisai said its experimental Alzheimer’s drug dramatically slowed the progression of the disease in a study , reducing cognitive and functional decline by 27%.

Thor Industries ( THO ): Thor Industries gained 3.6% in premarket trading after the recreational vehicle maker reported better-than-expected profit and revenue for its latest quarter. Thor saw particular strength in its motorized recreational vehicle segment, with a 24.5% year-over-year gain.

Lyft (LYFT): Lyft said it would freeze hiring until the end of this year. This follows the public transport firm’s earlier statement that it would delay hiring “drastically” as it looks to cut costs. Lyft fell 2.5% in premarket trading.

Apple (AAPL) — Apple is said to be backing off on plans to ramp up production of its new iPhone 14 lineup, according to people familiar with the matter who spoke to Bloomberg. This comes after an anticipated increase in demand failed to materialise. Apple declined 3.7% in premarket action.

Ocugen (OCGN) – Ocugen rose 8.2% in premarket trading after the drugmaker announced a licensing deal with Washington University in St. Louis to develop, commercialize and manufacture its intranasal vaccine against Covid-19.

Walt Disney (DIS) – Walt Disney is closing its four Florida theme parks and related properties as the state prepares for Hurricane Ian, which was upgraded to a Category 4 storm this morning.

BlackBerry ( BB ): BlackBerry reported smaller-than-expected quarterly losses and revenue that beat analysts’ forecasts, but the communications software company’s cybersecurity revenue fell amid cautious customer spending.

Canopy Growth (CGC): Canopy Growth announced plans to divest its retail operations in Canada, selling stores to partner OEG Retail Cannabis and cannabis retailer 420 Investments. The sales come after the cannabis producer announced earlier this year that it was extending its deadline to achieve profitability. Canopy Growth shares fell 1.8% in premarket trading.

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