Square (NYSE:SQ) was busy over the weekend, making it one of the highlights of Monday's pre-market period. Jack Dorsey's payments company announced a massive acquisition and released its quarterly results.
Foot Locker (NYSE:FL) also dipped into the M&A pool. The shoe retailer announced a couple of smaller acquisitions, buying outlets operating on the West Coast and in Japan.
Looking at some of the day's notable earnings beats, ArcBest (NASDAQ:ARCB) and Tower Semiconductor (NASDAQ:TSEM) both gained ground in pre-market action on their respective quarterly reports.
Ferrari (NYSE:RACE) issued its financial figures as well. The luxury carmaker missed expectations with its Q2 results.
The payments company also released its quarterly results. Square beat on its bottom-line figure, but came up short of expectations with its top line. SQ dipped about 3.7% in pre-market action.
In the first purchase, Foot Locker reached a deal to acquire West Coast-based footwear retailer Eurostar, Inc., which operates under the brand WSS. The purchase price is $750M.
The second deal saw FL agree to acquire Japan-based Text Trading Company, K.K., which owns the atmos brand of retailers. That purchase is valued at $360M.
FL was little changed on the news, with shares dipping less than 1% before the bell.
Ferrari missed expectations with its non-GAAP EPS, with revenue that came in at €1.04B. Total shipments almost doubled and EBITDA climbed three-fold to reach €386M. RACE dipped 1.5% on the news.