Zendesk (ZEN)

Shares of the software company surged 56.5% in the
premarket after reports that it is close to a buyout deal with a group of
private equity firms. According to a Wall Street Journal report, Hellman and
Friedman and Permira are among those involved. The potential buyout comes after
Zendesk announced last week that it had stopped efforts to sell itself.

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FedEx (FDX)

FedEx shares jumped 3.4% in premarket action after
reporting its adjusted earnings of $6.87 per share beating estimates by 1 cent.
Shipment volumes fell but were offset by increased shipping rates and fuel
surcharges. FedEx also released upbeat guidance for fiscal 2023.

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Seagen (SGEN)

Seagen rallied 3.5% in premarket trading after the Wall
Street Journal reported that Merck (MRK) is pushing ahead with a potential deal
to acquire the biotech company. The stock had surged last week after the
paper’s initial report that Merck was in talks with Seagen about a possible
transaction.

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Microsoft (MSFT)

Microsoft gained 1.2% in premarket action after Citi named
it a “top pick,” citing its attractive valuation and its ability to sustain
growth.

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CarMax (KMX)

Shares of automobile retailers added 1.1% in the premarket
after it reported quarterly earnings of $1.56 per share, beating estimates by 7
cents. Revenue also exceeded analyst forecast amid what the company called a
“challenging” used vehicle market.

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LendingTree (TREE)

Share of the online lender plunged 7.9% after the company
slashed its current quarter guidance. LendingTree cited recession fear, higher
interest rates, and soaring inflation for the revision.

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BlackBerry (BB)

BlackBerry stock rose 1% in premarket trading after
reporting an adjusted quarterly loss of 5 cents per share, in line with analyst
forecasts, while the software company’s revenue beat estimates. Growth in
cybersecurity and auto products supported the results.

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Bausch Health (BHC)

Bausch Health rallied 3.6% in the premarket after
announcing that Chairman Joseph Papa has stepped down from the board and it was
not due to any dispute or disagreement with the health care products maker.
Investor John Paulson is appointed as the chairman.

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Wolfspeed (WOLF)

Wolfspeed rallied 4.15 in the premarket after the
semiconductor developer was upgraded to “buy” from “neutral” at Goldman Sachs,
which said the stock’s risk-reward profile is now much more attractive
considering a recent pullback and that a significant upward earnings inflection
is coming.