Check out the companies making headlines before the bell. Bitcoin stocks — Stocks tied to the world’s oldest cryptocurrency were in the red as Bitcoin plummeted to nearly $80,000 as investors fled risky assets. Digital asset mining companies American Bitcoin and Riot Platforms fell 2.4%, while Bitcoin Treasury Strategies fell 2%. Galaxy Digital fell 2.2%. Elastic — The data analytics company fell nearly 13% after reporting second-quarter results that showed cloud growth slowed. Elastic’s adjusted earnings and revenue exceeded Wall Street expectations. ALBEMARLE — A lithium mining company has tentative plans to restart operations at its Jianxiaowo mine by early December, a Bloomberg report reveals. Ablemar fell nearly 5%. Veeva Systems — Veeva Systems fell 7% after the cloud solutions provider said it expected fewer top biopharmaceutical companies to choose its Vault CRM. Veeva reported third-quarter earnings of $2.04 per share, excluding one-time items, and revenue of $811.2 million. That compared to analysts’ consensus estimates of $1.95 and revenue of $792.8 million. Gap — The apparel retailer posted 5% growth in its latest quarter, beating same-store sales expectations and surging more than 5% premarket thanks to its viral “Better in Denim” campaign with Katseye. Excluding the pandemic, same-store sales growth was the largest since the holiday quarter of fiscal 2017. Ross Stores — The retailer reported better-than-expected sales of $5.6 billion compared to analysts’ consensus estimates of $5.42 billion, pushing the stock up nearly 3%. Ross also raised his earnings outlook for the fourth quarter, saying, “We expect tariff-related costs to be negligible.” Anaptis Bio — The biotech company fell 12% after drugmaker Tesaro announced it would sue Anaptis Bio for allegedly violating a licensing agreement for its oncology drug Gemperi. —CNBC’s Michelle Fox Theobald and Yun Li contributed reporting.
