Take a look at the businesses making headlines earlier than the bell: Bumble — The web relationship service surged 16% in premarket buying and selling after disclosing $40 million in annual price financial savings from firing employees, with many of the proceeds being reinvested again into the enterprise. Bumble additionally raised its second-quarter steerage to $244 million to $249 million, up from $235 million to $243 million, and adjusted earnings earlier than curiosity, taxes, depreciation and amortization, or EBITDA, to $88 million to $93 million from $79 million to $84 million beforehand, FactSet mentioned. Rubrik — Shares of the info administration software program vendor rose 1% after it agreed to purchase startup Predibase , an organization that helps deploy synthetic intelligence fashions. An individual acquainted with the transaction mentioned Rubrik intends to pay as a lot as $500 million as a part of the deal, CNBC reported. BlackBerry — The cybersecurity inventory popped 7% after first-quarter income and revenue topped analysts’ estimates. BlackBerry additionally raised its full-year steerage for income and EBITDA. Coinbase — Shares rose about 3% on the again of Bernstein’s bullish funding opinion. Analyst Gautam Chhugani stored an outperform ranking on Coinbase however lifted his value goal by 65%, or $200, highlighting that Coinbase dominates the U.S. crypto buying and selling market and has continued to defy analysts’ bearish arguments. Yum Manufacturers — Shares of the KFC, Taco Bell and Pizza Hut dad or mum rose greater than 1% after JPMorgan upgraded the chain to obese from impartial. The financial institution mentioned robust free money circulation technology, amongst different catalysts, may ship shares increased. FedEx — The Memphis-based shipper dropped 5% after earnings steerage for the present quarter got here in weaker than anticipated. FedEx forecast adjusted earnings per share of $3.40 to $4.00, whereas analysts had penciled in $4.05, in keeping with FactSet. Outcomes for the fiscal fourth quarter simply beat expectations. QuantumScape — Shares soared greater than 35% after the startup, which develops solid-state lithium-metal battery know-how, introduced the combination of its superior Cobra separator course of into baseline cell manufacturing. Cobra is designed to allow sooner and extra energy-efficient manufacturing, QuantumScape mentioned in a press launch . — CNBC’s Jesse Pound, Sean Conlon and Michelle Fox contributed reporting.
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