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Find out which companies are making the headlines before the bell:
Lowe’s (LOW) – The home improvement retailer reported adjusted quarterly earnings of $ 4.25 per share, beating the consensus estimate of $ 4.01. Revenue exceeded expectations and the 1.6% drop in same-store sales was lower than analysts’ forecast of 2.2%. Lowe’s also raised its financial outlook for the full year as spending by builders and professionals increased. Lowe’s grew 4.3% in pre-market.
Target (TGT) – The retailer beat estimates by 15 cents with adjusted quarterly profit of $ 3.64 per share and revenue slightly above analysts’ forecast. Comparable store sales increased 8.9%, slightly above the consensus estimate of 8.8%. Despite beating analysts’ forecasts, shares of Target slipped 1.8% in pre-market trading.
Krispy Kreme (DNUT) – The donut chain fell a dime from Street’s forecast with adjusted quarterly profit of 13 cents per share, although revenue exceeded estimates. Krispy Kreme also gave a better-than-expected revenue forecast, based on the projected strength of online orders and new menu items. The stock added 2.9% to the pre-market share.
Alcon (ALC) – The eye care and surgical product maker jumped 9.8% pre-market, after posting better-than-expected quarterly results and raising its annual forecast. The quarter marked the launch of Alcon’s Vivity intraocular contact lens, which analysts say will help drive sales growth.
Moderna (MRNA), BioNTech (BNTX) – Moderna rose 1.6% in pre-market trading while BioNTech gained 1%, ahead of an expected White House announcement calling for a recall for Americans already fully vaccinated against Covid-19.
T-Mobile (TMUS) – Following an investigation, the mobile operator now claims the personal information of around 7.8 million customers has been compromised in a recent data breach. This included dates of birth, social security numbers and driver’s license information, although no financial information was stolen.
ViacomCBS (VIAC) – Shares of the media giant gained 2.7% in pre-market stock after Wells Fargo Securities changed stock from “overweight” to “equal weight.” Wells Fargo said that ViacomCBS is one of the players poised to benefit from the industry consolidation and is also impressed with the upcoming lineup for the company’s streaming service Paramount +.
BlackBerry (BB) – The communications software maker has said it has released software fixes to fix an issue with older versions of its QNX operating system and has notified all customers. U.S. officials said earlier yesterday that the software flaw could endanger cars and medical equipment. BlackBerry stocks gained 2.3% in the pre-market.
Tilray (TLRY) – Shares of the Canada-based cannabis producer jumped 8.1% in pre-market trading, after reaching a deal to buy $ 166 million of convertible debt from US producer MedMen Enterprises. Canadian growers cannot yet directly own a U.S.-based marijuana business, but Tilray could be close to benefiting from the deal if and when U.S. laws change.
Agilent Technologies (A) – Agilent gained 1.9% in pre-release after the life sciences company broke upper and lower estimates for its last quarter and increased its guidance for the full year. Agilent said its measurements were optimistic across all of its units and added that its non-Covid diagnostic activity has recovered beyond pre-pandemic levels.
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