Check out the companies making headlines in premarket trading. Bristol-Myers Squibb — The biopharmaceutical stock jumped 5.3% after the Food and Drug Administration approved Cobenfy as a treatment of schizophrenia for adults. It marks the first new type of treatment for the mental disorder in several decades. Novo Nordisk – U.S.-listed shares of the Danish health care company slid 2.9% after JPMorgan said to expect a lower sales figure than Wall Street expects for the third quarter. The bank said that’s due in part to its weaker-than-typical forecast for blockbuster weight-loss drug Wegovy. Costco Wholesale — The membership-only retailer saw shares dip about 1% after the company missed expectations for fiscal fourth-quarter revenue. Revenue came in at $79.70 billion, below an analyst average estimate of $79.97 billion, per LSEG. Costco was hurt by cautious consumer spending on pricier items as well as falling gasoline prices. Super Micro Computer — Shares of the artificial intelligence beneficiary slipped 2%, adding to their 12% loss in the previous session. The Wall Street Journal reported that the Justice Department had opened a probe on the company. This comes after Hindenburg Research revealed it had taken a short position in the company last month, listing “fresh evidence of accounting manipulation” as a reason. Cassava Sciences — Shares tumbled 11.5% after the biotech company settled a case with the Securities and Exchange Commission over “misleading claims” regarding an Alzheimer’s clinical trial. Cassava Sciences agreed to pay civil penalties of $40 million dollars. Wynn Resorts — The hotel and casino operator climbed 2.9% after Morgan Stanley upgraded shares to overweight from equal weight. The firm cited Wynn’s strong fundamentals relative to its competitors. Dollar General — Shares fell 2% after Citi downgraded Dollar General to sell from neutral, saying Walmart ‘s increasing dominance in retail, especially on pricing, has the dollar store “on the wrong side.” Bumble — Shares of the dating platform fell 2%. KeyBanc downgraded Bumble to sector weight from overweight, citing weak app store data and risks into the new year. HP Inc. — The tech hardware stock fell about 2% after a downgrade to neutral from buy at Bank of America. The investment firm said HP would be reliant on stock buybacks to grow earnings per share in the coming years. — CNBC’s Hakyung Kim, Lisa Kailai Han, Yun Li, Sarah Min, Jesse Pound, Samantha Subin and Michelle Fox contributed reporting
Source: www.cnbc.com