Netflix (NFLX)

Netflix tumbled 26.8% in the premarket action after it
reported that it lost 200,000 subscribers during the first quarter. The
streaming platform had projected subscriber additions of 2.5 million. Netflix
said it was exploring an ad-supported version. Other streaming service
companies also saw their stocks slip along with Netflix. Disney slid 5% in the
premarket, Roku tumbled 6.7% and Warner Brothers Discovery lost 4.3%.

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IBM (IBM)

IBM share rallied 2.7% in the premarket after reporting
an adjusted quarterly profit of $1.40 per share, 2 cents above estimates, with
revenue above analyst forecasts. Strong hybrid cloud platform sales boosted
IBM’s results.

Lululemon (LULU)

Lululemon jumped 2.2% in the premarket trading after the
garment maker announced a five-year plan to double revenue. The plan emphasizes
increasing international sales four times and doubling revenue from its men’s
and digital operations.

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Baker Hughes (BKR)

Baker Hughes stocks fell 2% in premarket action after
oilfield services fell 5 cents short of analyst estimates with adjusted
quarterly earnings of 15 cents per share, and revenue also missed
forecasts.  Baker Hughes said its results
reflected a volatile operating environment.

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Procter & Gamble (PG)

The consumer products company gained 1.1% in premarket
action after a top and bottom-line beat. Procter & Gamble beat analysts’
estimates by 4 cents with adjusted quarterly earnings of $1.33 per share and
recorded its biggest sales gain in 20 years as demand for household products
remained high. Procter also raised its organic sales guidance.

Teva Pharmaceutical (TEVA)

Teva shares plunged 4.8% in premarket action after the
FDA rejected a new drug application for schizophrenia treatment. Teva said it
is researching possible next steps and will work with the FDA to address the
agency’s concerns.

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Omnicom (OMC)

Omnicom shares added 3.7% in premarket action after
reporting a better-than-expected profit and revenue for its latest quarter. The
ad agency operator took a $113.4 million charge relating to its investment in
Russian businesses.

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ASML (ASML)

ASML shares surged 5.4% in the premarket after its latest
quarter beat analyst estimates on the top and bottom lines. The Amsterdam-based
semiconductor equipment maker reported strong demand from chip makers trying to
ramp up production.