Check out the companies that make headlines before the bell. Rubrik – The data management software vendor stock rose 1% after agreeing to buy Startup Predibase, which helps deploy artificial intelligence models. Those familiar with the transaction said Rubrik intends to pay $500 million as part of the transaction, CNBC reported. BlackBerry – Cybersecurity stocks rose 7% after first quarter revenue and earnings surpassed analyst estimates. BlackBerry also raised year-round guidance on revenues prior to interest, taxes, depreciation and amortization and adjusted revenues. Coinbase – Stocks rose about 3% behind Bernstein’s bullish investment opinion. Analyst Gautam Chhugani maintained his outperform rating at Coinbase, but increased his price target by 65% ($200); This highlights that Coinbase continues to dominate the US crypto trading market and ignore analysts’ bearish debate. Yum Brands – KFC, Taco Bell and Pizza Hut’s parent shares rose more than 1% after JPMorgan upgraded its chain from neutral to overweight. The bank said that strong free cash flow generation could send stocks higher, among other catalysts. FedEx – Memphis-based shippers have fallen 5% after revenue guidance this quarter has weaker than expected. FedEx adjusted its adjusted earnings of $3.40 to $4.00 per share, while Analyst painted the pencil at $4.05, according to Factset. The fourth quarter results ended with beat expectations. Quantumscape – Stock announced the integration of the advanced Cobra separation process into baseline cell production, surged by over 35% after the startup developing solid state lithium metal battery technology. Cobra is designed to allow faster, more energy-efficient production, Quantumscape said in a press release. – Reported by CNBC’s Jesse Pound, Sean Conlon and Michelle Fox.
