Having issued a profit warning just days ago, AMC Entertainment Holdings (NYSE:AMC) looks set for a small relief rally this morning.
The cinemas owner reported a 57.4% year-on-year increase in total revenues to US$1,202.3mln in the second quarter of 2017.
Net earnings turned negative, with a net loss of US$176.5mln, compared to positive earnings a year earlier of US$24.0mln, but this had been well flagged, and the shares rose 3.6% to US$15.65 in pre-market trading.
READ AMC plunges on profit warning after weaker than anticipated box office takings
US pharmaceutical firm Eli Lilly and Co. (NYSE:LLY) said its migraine drug lasmiditan showed a significant improvement in pain relief in a late-study clinical trial.
The trial, which tested three doses of the oral drug against a placebo in patients who had an average of more than five migraines per month, met its primary end point.
Shares in the company rose 1.31% to US$81.93 in US pre-market trading.
Automatic Data Processing Inc (NYSE:ADP) rose 2.9% in premarket trade Friday, after the business consulting company revealed that activist investor William Ackman's Pershing Square Capital Management is seeking to take control.
ADP said Pershing, which owns 8% of the company's shares outstanding, is seeking to extend the deadline for nomination directors by up to 45 days.
Ackman would like to take five board seats.