Check out the companies making headlines before the bell: Alibaba — Shares soared more than 3% after CEO Eddie Wu said at the company’s Apsara conference that Alibaba Cloud plans to operate more than 20 gigawatts of data centers worldwide by 2032, according to FactSet. He also launched the Zhenwu V900 chip. Quest Diagnostics, Labcorp Holdings — Two companies that provide diagnostic services each fell more than 5% after the Centers for Medicare and Medicaid Services released a report showing that Medicare pays 16% more than private payers for testing services. The federal agency said it would match most Medicare payments to private sector tax rates. Vicor — Shares rose 9% after the power electronics company released third-quarter guidance and said it expects sales growth of more than 20% quarter-over-quarter, compared with previous guidance of nearly 10%. On Holding — Shares soared more than 6% after Swiss sportswear company On set new medium-term financial targets at its investor day, including reaching absolute net sales of at least CHF 5.6 billion by 2029 and gross profit margins of 65% over the period. The company also announced that it will repurchase up to $1 billion of its Class A common stock by December 2029. The company also reiterated its outlook for the full year 2026. GameStop — Meme stock rose 3.5% after CEO Ryan Cohen revealed he was buying 1.2 million shares.
