Oracle, Roblox Fall Premarket; Kindred Biosciences Rises

Investing.com
·2 min read

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Wednesday, June 16th. Please refresh for updates.

Oracle (NYSE:ORCL) stock fell 5.1% after the business software maker forecast current-quarter profit below estimates, as it ramps up investments in its cloud computing business to take on its large rivals. Roblox (NYSE:RBLX) stock fell 8% after the online gaming company reported a drop in daily active users in May to 43 million. That’s up 28% year over year, but importantly down 1% from April’s level. Kindred Biosciences (NASDAQ:KIN) stock soared 45% after the pet therapeutics company agreed to be acquired by Elanco Animal Health (NYSE:ELAN), up 1%, for $9.25 per share, or $440 million. La-Z-Boy (NYSE:LZB) stock fell 3% after the furniture company highlighted ongoing global supply chain disruptions and headwinds related to raw materials and freight costs despite record fourth-quarter sales. H&R Block (NYSE:HRB) stock fell 3% despite the tax-preparation company reporting better-than-expected quarterly numbers, including increasing its dividend by around 4%. Its stock is up almost 60% year-to-date. SoFi Technologies (NASDAQ:SOFI) stock rose 2.2% after Rosenblatt initiated coverage on the online banking and finance company with a ‘buy’ rating, saying it has a powerful cost advantage over legacy banks. Carnival (NYSE:CUK) stock rose 0.8%, Royal Caribbean (NYSE:RCL) stock rose 0.9% and Norwegian Cruise Line (NYSE:NCLH) stock rose 1.3% after Wolfe Research upgraded all to ‘outperform’ from ‘peer perform’, saying early indications point to a strong restart for the industry. Regeneron (NASDAQ:REGN) stock rose 0.1% after a U.K. study found the drugmaker’s Covid-19 antibody cocktail reduced deaths in patients who could not mount their own antibody response.

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