Check out the companies making the biggest pre-market moves: Moderna, Merck — Shares of the drug companies soared after their personalized cancer vaccines showed positive results in late-stage trials. Moderna’s stock price soared 57% at one point, while Merck’s stock rose more than 6%. It’s unclear when the companies plan to file an application for approval of the drug in the U.S. Marvell Technologies — The chipmaker rose more than 11% after announcing it would give Google permission to buy $12 billion in stock as part of a custom chip development deal for an Alphabet subsidiary. Keysight Technologies — The electronic test and measurement company rose 2% after its third-quarter results beat expectations on revenue and bottom line. Keysight reported earnings of $3.07 per share excluding items, beating analysts’ estimates of $2.48 per share polled by FactSet. Revenue was $1.85 billion, exceeding the consensus estimate of $1.75 billion. Lowe’s — Shares fell 2% after the home improvement retailer updated its full-year sales and profit outlook to the lower end of previous guidance. The company reported second-quarter sales were also lower than expected, putting pressure on home improvement spending. Targets — The company fell 1.5% despite reporting better-than-expected revenue in its second-quarter financial report and raising its full-year outlook. Earnings were boosted by a $752 million ($1.65 per share) increase in net income from tariff refunds. La-Z-Boy — The maker of recliners fell nearly 17%. First-quarter earnings were 43 cents per adjusted share, down 9% from the year-ago period. Adjusted operating income decreased 20% year over year to $18.7 million. La-Z-Boy said sales for the quarter were in the range of $500 million to $520 million, falling short of the FactSet consensus of $536.8 million. Mercury Systems — The defense and aerospace electronics maker fell more than 9%. Mercury Systems said its revenue for the fiscal year ending June 2027 will be closer to about $1.1 billion, compared with the FactSet consensus estimate of $1.05 billion. Fourth-quarter adjusted earnings were 37 cents, 1 cent below the FactSet consensus call. Toll Brothers — Shares of the luxury home builder rose just over 1%. The company reported third-quarter earnings of $2.97 per share on revenue of $2.65 billion. Analyst estimates compiled by LSEG were for earnings of $2.93 per share and revenue of $2.61 billion. Estée Lauder — The beauty care manufacturer and distributor rose more than 7% after it reported fiscal fourth-quarter earnings and sales that beat consensus estimates, according to analysts surveyed by FactSet. The company also reported that it expects fiscal 2027 earnings per share to be between $3.10 and $3.35, roughly in line with FactSet’s forecast of $2.95 to $3.42. Analog Devices — The semiconductor company rose more than 3% after fiscal third-quarter adjusted earnings and revenue beat expectations, along with guidance for the current quarter. Non-GAAP gross margin increased to 72.5% from 69.2% a year ago. — CNBC’s Sarah Ming and Darla Mercado contributed reporting
