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Take a look at some of the biggest drivers in the premarket:
Casper Sleep (CSPR) – The sleep products company reported record quarterly earnings above Street’s expectations, although it still reported a quarterly loss. Casper Sleep said it has seen strong growth in retail and direct-to-consumer channels, but noted it also faces higher input costs and supply chain challenges. Stocks first rebounded in the pre-market, but then fell 6.1%.
AMC Entertainment (AMC) – AMC reported a quarterly loss of 71 cents per share, 20 cents per share less than Wall Street had expected. The turnover is higher than analysts’ forecasts. AMC has been aided by the lifting of Covid restrictions and the return of moviegoers to theaters, as well as the release of several blockbuster films. Its shares jumped 7.8% in pre-market.
3D Systems (DDD) – 3D Systems gained 12 cents per share for its most recent quarter, beating the consensus estimate of 5 cents per share. The revenue of the 3D printing technology company also exceeded estimates. 3D said it has successfully gone through the most difficult 12 months it has ever seen amid the pandemic. 3D shares soared 14.1% in pre-release.
Kansas City Southern (KSU) – Canadian Pacific Railway (CP) has increased its cash and stock offering for Kansas City Southern to around $ 300 per share. Canadian Pacific had made a deal to buy rival rail operator for $ 275 a share, but Kansas City Southern later accepted a higher offer from Canadian National (CNI). Kansas City Southern jumped 7.2% in pre-market, while Canadian Pacific lost 1.7% and Canadian National increased 1.9%.
Aramark (ARMK) – The foodservice company reported quarterly profit of 3 cents per share, beating the consensus estimate of the dime per share. Turnover is slightly lower than forecast. Aramark said it benefited from a rebound in sales volume as well as effective cost management. Aramark shares added 1.3% in the pre-market.
Planet Fitness (PLNT) – Planet Fitness missed estimates by 2 cents per share, with quarterly profit of 21 cents per share. Revenue has exceeded estimates as gyms reopened and membership increased for the operator of the fitness center. Shares fell 3.2% in the pre-market.
The RealReal (REAL) – RealReal lost 50 cents per share for its most recent quarter, 3 cents per share more than analysts had expected. The operator of an online second-hand luxury goods market also saw its revenues fall short of estimates. The company said the gross merchandise volume was up 91% from a year ago, and up 84.5% from repeat buyers. The stock slipped 6% in pre-market.
Chegg (CHGG) – Chegg broke estimates of 6 cents per share, with quarterly profit of 43 cents per share. The online education company’s revenue also exceeded expectations. Chegg raised its outlook for the full year, saying its international growth continues to be strong. Its shares added 2.9% in the pre-market.
InterContinental Hotels (IHG) – InterContinental Hotels reported operating profit for the first six months of the year, rebounding from a loss a year ago as summer vacation bookings surged. The operator of Holiday Inn and other hotel chains, however, eliminated its dividend to cut costs, causing its shares to fall 1.6% in pre-market exchanges.
II-VI (IIVI) – The optoelectronic component maker topped estimates in terms of earnings and earnings for its most recent quarter, gaining 88 cents per share from a consensus estimate of 76 cents per share. It also had its highest order backlog on record at the end of the quarter.
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