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Find out which companies are making the headlines before the bell:
Constellation Brands (STZ) – The beer and wine maker reported adjusted quarterly profit of $ 2.38 per share, missing the consensus estimate of $ 2.77, although revenue exceeded Wall Street forecasts and that Constellation increased its profit outlook for the full year. Shares fell 2.2% in the pre-market.
Acuity Brands (AYI) – The lighting and building management systems maker reported adjusted quarterly earnings of $ 3.27 per share, beating the consensus estimate of $ 2.85, with revenue guidance also exceeding . The drop in profits came in what the company calls a “tough” environment that included higher costs for labor, materials and freight.
Palantir Technologies (PLTR) – Palantir jumped 8.1% in pre-commercialization after announcing it was awarded an $ 823 million contract with the military to supply its Gotham platform, a system for operation designed to optimize defense decision making.
Norwegian Cruise Line (NCLH) – Norwegian CEO Frank Del Rio told CNBC’s Closing Bell that the company will have its entire fleet operational by April for the first time since the start of the pandemic. He said 75% of ships are expected to sail by the end of this year. Norwegian stocks fell 1.7% in pre-market trading.
Seagate Technology (STX) – Shares of the hard drive maker fell 3.3% in pre-market after Morgan Stanley downgraded the stock to “equal weight” from “overweight,” citing deterioration in data from the industry, including rising inventory levels and declining corporate spending plans.
General Motors (GM) – The automaker’s shares will be under scrutiny today as GM holds its Investor Day, intended to highlight its plans for growing electric vehicles.
Southwest Gas (SWX) – Southwest Gas has entered into an agreement to purchase Questar Pipelines from Dominion Energy (D) for $ 1.975 billion in cash and debt assumption. Investor Carl Icahn, who owns a 4.9% stake in Southwest Gas, sent a letter to the company opposing such a deal when reports first surfaced earlier this week. Icahn said the deal would be a huge mistake and reduce shareholder value. Southwest Gas fell 1.7% in pre-market action.
Facebook (FB) – Facebook CEO Mark Zuckerberg has responded to accusations by whistleblower Frances Haugen, saying the company does not prioritize profits over security. Zuckerberg posted a blog post about the charges following Haugen’s testimony to a Senate panel on Tuesday. Shares lost 1.3% in the pre-market.
Manchester United (MANU) – Manchester United have announced a 9.5million share offer from the Glazer family, which controls the football club. Manchester United will not receive any proceeds from the sale. The stock fell 9.4% in the pre-market share.
HSBC Holdings (HSBC) – HSBC has been reclassified to “buy” from “neutral” at UBS, suggesting an attractive valuation and optimistic expectations in 2022 for the bank’s financial performance. The title added 2.3% in pre-market.
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