Check out the companies that make news before the bell:
Hormel (HRL): The food producer reported adjusted quarterly earnings of 39 cents per share, coinciding with forecasts, with revenues in excess of estimates. However, Hormel presented a weaker-than-expected full-year outlook, noting the impact of higher costs, though he said price hikes and cost reductions should help the margins move forward. Hormel fell 3.5% in premarket trade.
Lands’ End (LE): The clothing retailer exceeded estimates by 6 cents, with quarterly earnings of 48 cents per share and revenue above estimates as well. However, the company also said its profit margins would moderate in the later half of its year due to supply chain challenges, and that shares fell 3% in premarket shares.
Hill-Rom Holdings (HRC): The medical equipment manufacturer agreed to be bought by medical product manufacturer Baxter International (BAX) for $ 156 per share in cash or about $ 10.5 billion. Earlier this week it was reported that the two sides were in talks over a potential $ 10 billion deal. Hill-Rom gained 3.1% in premarket trading, while Baxter rose 0.7%.
Signet Jewelers (GIS): The jewelry retailer reported adjusted quarterly earnings of $ 3.57 per share, well above the agreed-upon estimate of $ 1.69, with revenues also higher than forecast. Comparable in-store sales increased 97%, more than the 79.2% increase analysts had forecast. Signet also increased its outlook for the full year and its shares rose 5.4% in the premarket.
Chewy (CHWY): Chewy fell 10.2% in the pre-market, after a wider-than-expected quarterly loss and revenue that fell slightly below estimates. The retailer’s adjusted loss of 4-cent-per-share pet products was twice as broad as analysts had predicted, and Chewy noted a higher-than-usual level of non-stock products. The company also issued a weaker-than-expected outlook.
ChargePoint (CHPT) – The electric vehicle recharging company saw its shares rise 12.3% in the market before quarterly sales exceeded estimates and the company raised its focus on revenue from all over the world. ‘year. During the most recent quarter, ChargePoint matched street forecasts with a tight loss of 13 cents per share.
Okta (OKTA): The identity management software company recorded an adjusted quarterly loss of 11 cents per share, lower than the loss of 35 cents that analysts predicted. Revenue was above estimates and the company issued better-than-expected outlook, but shares fell 1.5% in the pre-market.
C3.ai (AI) – Artificial intelligence software vendor shares fell 7.7% in premarket trading after recording a surprise quarterly loss. C3.ai lost 37 cents per share adjusted during its last quarter, compared to analysts’ forecasts of a profit of 28 cents per share, and also issued a weaker-than-current earnings outlook for the current quarter. ‘I expected.
Five Below (FIVE): The discount retailer saw its shares fall 8.6% in the pre-market, despite a 4-cent rate with quarterly earnings of $ 1.15 per share. Five Below’s revenue was shy of street forecasts and offers no year-round sales or earnings guidelines due to the uncertainties surrounding Covid-19.
Ciena (CIEN) – The network equipment maker earned 92 cents a share adjusted during its last quarter, surpassing estimates by 13 cents, while revenue also exceeded estimates amid what the company calls “strong demand “. Separately, Ciena announced the acquisition of AT&T’s (V) Vyatta Virtual Routing and Switching Technology Unit. Ciena jumped 6.3% in premarket trading.