Stocks making the biggest moves premarket: Baker Hughes, Biogen, Netflix and more

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Check out the companies making headlines before the bell:

Baker Hughes (BKR) – The oilfield services company reported second-quarter adjusted earnings of 11 cents per share, just half of what analysts had forecast. Revenue also fell below estimates, with Baker Hughes citing various challenges including component shortages and supply chain inflation. Baker Hughes tumbled 6% in premarket trading.

Biogen (BIIB) – Biogen gained 2.4% in premarket action after reporting an adjusted profit of $5.25 per share for the second quarter. That was well above the consensus estimate of $4.06, and revenue also topped forecasts. The beat came even as Biogen said it faces increasing generic and biosimilar competition for its Tecfidera and Rituxan drugs.

Netflix (NFLX) – Netflix jumped 6.1% in premarket trading after reporting subscriber losses that were substantially below expectations. The streaming service also said it would add a net 1 million new subscribers this quarter. Netflix reported better-than-expected quarterly earnings, though revenue did fall slightly shy of Wall Street estimates.

Casino Stocks – Shares of casino operators rose in premarket action following a Reuters report that Macau would reopen casinos on Saturday amid a drop in Covid infections. Las Vegas Sands (LVS) gained 1.5% while Wynn Resorts (WYNN) rose 1.9%.

Merck (MRK) – Merck fell 1.5% in premarket trading after its Keytruda cancer drug failed to meet its goal in a late-stage study focused on head and neck cancer patients.

Cal-Maine Foods (CALM) – Cal-Maine rose 1% in the premarket after beating Street forecasts on the top and bottom lines for its latest quarter. The nation's largest egg producer was helped by higher egg prices, but also saw