Check out the companies making the biggest moves premarket: Ultralife — Shares surged above 144% after EnerSys agreed to acquire the battery manufacturer for $16 per share in cash. The transaction values Ultralife at approximately $320 million. The New York-based technology company announced the merger agreement after the market closed on Tuesday. EnerSys shares gained 2%. Enphase Energy — The solar stock tumbled more than 18% after quarterly revenue declined to $293.3 million from $410.4 million a year earlier. PPG Industries — Shares were up 6% after PPG reported record quarterly earnings of $2.25 per share on an adjusted basis. The coatings manufacturer also raised the midpoint of its full-year earnings guidance. Robinhood — Shares fell 7% after the brokerage’s quarterly profit missed expectations . Revenue increased 12% to $1.42 billion, but net income declined 14% to $476 million and cryptocurrency revenue dropped 55% to $120 million. A prolonged slowdown in cryptocurrency markets has pressured trading activity and related revenue. SK hynix — The chipmaker advanced 7% after reporting record quarterly results fueled by demand for artificial-intelligence memory products. The company also announced a special dividend tied to gains from its Kioxia investment. Logitech — The computer peripherals maker dropped more than 11% after the company reported mixed results for the fiscal second quarter. While Logitech adjusted earnings per share of $1.51 beat a FactSet consensus of $1.30, operating income came in below expectations at $200.6 million. Vertiv — The critical digital infrastructure stock rallied 16% after Vertiv topped expectations in its third quarter report and issued stronger-than-expected guidance for the current quarter and full year. Adjusted earnings of $2.21 per share topped the $1.82 expected by analysts polled by FactSet. Revenue of $4.31 billion exceeded the consensus estimate of $3.75 billion. GE Vernova — Shares were up more than 1% after the energy equipment company agreed to acquire high-voltage components manufacturer Trench Group for approximately $9 billion. Separately, the company raised its full-year revenue forecast to $47 billion. — CNBC’s Sarah Min contributed reporting
Stocks making the biggest moves premarket: Ultralife, SK Hynix, Robinhood, Enphase Energy & more
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