Check out the companies making headlines before the bell: GSK , Nuvalent — Shares of U.S. drugmaker Nuvalent rose nearly 39% after U.K.-based biopharmaceutical company GSK announced an agreement to acquire the company for $10.6 billion. J.M. Smucker Company — Shares jumped 3.5% after the maker of Smucker’s jam and Jif peanut butter reported fourth-quarter results that topped expectations. Earnings of $2.77 per share, on an adjusted basis, exceeded the $2.64 FactSet consensus estimate. Revenue of $2.27 billion also topped the anticipated $2.26 billion. SailPoint —The identity, data and security intelligence platform plunged more than 12% after issuing lackluster full-year guidance, even as its first-quarter earnings exceeded estimates. SailPoint expects adjusted earnings of 30 cents to 34 cents for the full year ending January, while analysts polled by FactSet were anticipating 32 cents. Expected revenue of $1.265 billion to $1.275 billion for the full year came in the low range of the expected $1.27 billion. Alibaba — The Pentagon added a slew of Chinese companies, including Alibaba Group, Baidu Inc and carmaker BYD, to a list of entities it believes have aided the Chinese military. Shares of Alibaba gained 0.9%, while shares of Baidu climbed more than 1%. Vail Resorts — Shares of the mountain resort company dropped 4.9% after Vail Resorts posted disappointing earnings of $8.81 per share in the third quarter, missing the $8.96 LSEG consensus estimate. Revenues of $1.21 billion came in line with expectations. Chip stocks — Chip stocks continued their comeback in the premarket Tuesday, with the VanEck Semiconductor ETF gaining 1.8%. Shares of Micron Technology climbed 5%, while shares of Qualcomm were up by 2.6%. — CNBC’s Anniek Bao and Davis Giangiulio contributed reporting
GSK, Nuvalent, J.M. Smucker, SailPoint and more
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