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Find out which companies are making the headlines before the bell:
Hormel (HRL) – The food producer reported adjusted quarterly earnings of 39 cents per share, matching expectations, with revenues exceeding estimates. However, Hormel gave a weaker-than-expected annual outlook, noting the impact of rising costs, although it said price increases and cost cuts should help its margins advance. Hormel fell 3.5% in pre-market trading.
Lands’ End (LE) – The clothing retailer beat estimates by 6 cents with quarterly profit of 48 cents a share and earnings above estimate as well. However, the company also said its profit margins would moderate in the second half of its fiscal year due to supply chain issues, and the stock fell 3% pre-market.
Hill-Rom Holdings (HRC) – The medical device maker has agreed to be acquired by medical device maker Baxter International (BAX) for $ 156 per share in cash, or about $ 10.5 billion. It was reported earlier this week that the two sides were in talks on a potential $ 10 billion deal. Hill-Rom gained 3.1% in pre-market trading, while Baxter edged up 0.7%.
Signet Jewelers (SIG) – The jewelry retailer reported adjusted quarterly earnings of $ 3.57 per share, well above the consensus estimate of $ 1.69, with revenue also beating expectations. Comparable store sales jumped 97%, more than the 79.2% increase analysts had expected. Signet also raised its outlook for the full year and its share rose 5.4% in pre-market.
Chewy (CHWY) – Chewy fell 10.2% pre-market, following a larger-than-expected quarterly loss and slightly lower than estimated revenue. The pet retailer’s adjusted loss of 4 cents per share was twice as large as analysts had expected, with Chewy noting a higher than usual level of out-of-stock products. The company also issued a weaker-than-expected outlook.
ChargePoint (CHPT) – The electric vehicle charging company saw its shares jump 12.3% in the pre-market after quarterly sales exceeded estimates and the company raised its revenue forecast for the full year . For its most recent quarter, ChargePoint matched Street’s forecast with an adjusted loss of 13 cents per share.
Okta (OKTA) – The identity management software company posted an adjusted quarterly loss of 11 cents per share, lower than the 35-cent loss analysts had expected. Earnings exceeded estimates and the company posted a better-than-expected outlook, but shares fell 1.5% before market.
C3.ai (AI) – Shares of the artificial intelligence software provider fell 7.7% in pre-market trading after reporting a surprise quarterly loss. C3.ai lost 37 adjusted cents per share for its most recent quarter, compared to analysts’ forecast of 28 cents per share, and it also posted a weaker-than-expected earnings outlook for the current quarter.
Five Below (FIVE) – The discount retailer saw its shares drop 8.6% in pre-market, despite beating 4 cents with quarterly profit of $ 1.15 per share. Five Below’s revenue was lower than Street’s forecast, and he does not give a full-year sales or profit forecast due to the uncertainties surrounding Covid-19.
Ciena (CIEN) – The network equipment maker earned adjusted 92 cents per share for its most recent quarter, beating estimates of 13 cents, while revenue also exceeded estimates amid what the company is calling a ” robust demand “. In addition, Ciena announced the acquisition of AT&T (T) Vyatta’s routing and virtual switching technology unit. Ciena jumped 6.3% in pre-market trading.
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