Check out the companies that made headlines before the bell: GSK, Nuvalent — Shares of U.S. drugmaker Nuvalent rose nearly 39% after UK-based biopharmaceutical company GSK announced an agreement to acquire the company for $10.6 billion. JM Smucker Company — Shares rose 3.5% after the maker of Smucker’s jam and Jif peanut butter reported better-than-expected fourth-quarter results. Adjusted earnings per share were $2.77, beating the FactSet consensus estimate of $2.64. Sales also exceeded expectations of $2.26 billion at $2.27 billion. SailPoint — The identity, data, and security intelligence platform plunged more than 12% after reporting lackluster full-year guidance despite better-than-expected first-quarter revenue. Sailpoint expects adjusted earnings of 30 cents to 34 cents for the year ending January, compared with the 32 cents expected by analysts polled by FactSet. The company’s full-year sales forecast was between $1.265 billion and $1.275 billion, which was on the lower end of the $1.27 billion estimate. Alibaba — The Department of Defense has added a number of Chinese companies, including Alibaba Group, Baidu and automaker BYD, to a list of entities believed to have supported the Chinese military. Alibaba shares rose 0.9% and Baidu shares rose more than 1%. Vail Resorts — The mountain resort company’s stock fell 4.9% after Vail Resorts posted disappointing third-quarter earnings of $8.81 per share, missing the LSEG consensus estimate of $8.96. Sales were $1.21 billion, in line with expectations. Semiconductor stocks — Chip stocks continued their return in Tuesday’s premarket, with the VanEck Semiconductor ETF up 1.8%. Micron Technology stock rose 5% and Qualcomm stock rose 2.6%. —CNBC’s Anniek Bao and Davis Giangiulio contributed reporting
