Check out the businesses making headlines before the market opens. ConocoPhillips – Shares fell greater than 3% after news that the corporate is acquiring Marathon Oil in a $17.1 billion all-stock deal that is predicted to shut within the fourth quarter. Marathon Oil shares rose greater than 7% following the announcement. Dick’s Sporting Goods – The sporting goods retailer gained 7.7% after reporting an increase in profit and revenue for the fiscal first quarter. Dick’s also raised its full-year forecast. The company now expects earnings per share between $13.35 and $13.75, up from the previous range of $12.85 to $13.25. That beats the $13.25 expected by analysts surveyed by LSEG. American Airlines – The airline’s shares fell 8% after the corporate cut its second-quarter forecast and announced the departure of its chief industrial officer. The company expects unit revenue to say no 5% to six% for the quarter, compared with previous guidance of a maximum of three%. American also lowered its forecast for adjusted earnings per share. Robinhood – The stock brokerage’s shares rose 1.6% in premarket trading after the trading startup announced its first share buyback plan. Robinhood said it will buy back $1 billion value of stock over two to a few years starting within the third quarter. Chewy – The pet supplies retailer’s shares rose greater than 5% after a stronger-than-expected quarterly report. Chewy reported earnings per share of 15 cents, beating FactSet’s estimate of just 4 cents per share. Revenue of $2.88 billion also beat expectations. United Airlines – The airline’s shares fell 1% despite Jefferies upgrading the stock to purchase from hold. The financial institution cited United’s investments in its product offerings, increased free money flow generation and a shareholder-friendly management team as catalysts for the upgrade. United Airlines also reiterated second-quarter earnings guidance. Cava – The stock fell 5% in premarket trading despite the fact that the restaurant chain reported first-quarter earnings and revenue that beat expectations. Cava reported earnings of 12 cents per share on revenue of $259 million, while analysts surveyed by LSEG expected earnings of 4 cents per share on revenue of $246 million. Store sales growth did slow and guest traffic declined year-over-year. HubSpot – Shares of the marketing software company fell 0.3%, giving back a few of Tuesday’s gains. Shares rose within the previous session after CNBC’s David Faber reported that Google parent Alphabet was in talks about an all-stock offering for HubSpot. Merck – The drugmaker’s shares were volatile in premarket trading after it announced it will acquire eye drug developer EyeBio for as much as $3 billion. Merck would pay $1.3 billion up front and as much as $1.7 billion in future milestone payments. – CNBC’s Jesse Pound, Michelle Fox, Lisa Han, Sarah Min, Brian Evans and Hakyung Kim contributed reporting.
