Check out some of the major premarket engines:
Rite Aid (RAD): Rite Aid expects to report a loss for its fiscal year that has just ended, compared to analysts ’forecasts of a $ 125 million profit. The pharmacy chain was affected by a 37% drop in sales of cold, cough and flu-related products, as people suffered from these diseases much less due to pandemic-related blockages. Rite Aid shares fell 18.6% in pre-market shares.
Walgreens (WBA): Shares of the pharmacy operator fell 2% in the pre-market, possibly out of sympathy with Rite Aid. Deutsche Bank also called the shares a “catalyst call buying idea,” noting short-term problems, but said the Covid vaccine could provide a positive opportunity for Walgreens in both the short and long term.
Darden Restaurants (DRI): The parent company of Olive Garden and other restaurant chains reported quarterly earnings of 98 cents per share, well above the consensual estimate of 69 cents per share. Revenue also exceeded estimates and, although sales at the same restaurants fell 26.7% from a year ago, this was a drop less than the 31.2% forecast by analysts surveyed by FactSet. Darden shares rose 4.2% in pre-market trading.
Coherent (COHR): Coherent accepted a takeover bid from optical component manufacturer II-VI (IIVI), ending a long battle between II-VI and fiber optic company Lumentum (LITE). Coherent, a provider of lasers and related technology, approved the offer of $ 220 per cash share and $ 0.91 II-VI shares for each coherent share and will pay Lumentum a breakout commission of $ 217.6 million. II-VI fell 8%, while Lumentum jumped 7.2% in the premarket.
HR (HR): HR reported quarterly earnings of $ 5.07 per share, surpassing the consensus estimate of $ 4.76 per share. Restoration Hardware’s father also saw revenue exceed analysts’ forecasts. HR recorded strong demand for high-end furniture and other luxury products and expects revenue for the current quarter to grow by at least 50%. HR shares increased 8.4% in premarketing stock.
KB Home (KBH): KB Home exceeded estimates by 10 cents per share, with a quarterly profit of $ 1.02 per share. The home builder’s revenue lost analysts ’projections despite a 23% increase in net orders and a 4% increase in deliveries. Shares of KB Home fell 1.9% in premarket trading.
AstraZeneca (AZN) – Drug maker said an up-to-date analysis of the Covid-19 vaccine test in the United States showed 76% effectiveness, compared to 79% in a report earlier this week . The previous report had not included more recent infections and was subject to some scrutiny by an independent data control board.
Nike (NKE) – Nike is the target of criticism on Chinese social media for a statement in which the sportswear and footwear maker said it was “concerned” about reports of forced labor in Xinjiang. Nike also said it does not come from products in the region. Shares fell 4.5% in premarket trading.
HB Fuller (FUL) – HB Fuller reported a quarterly profit of 66 cents per share, 19 cents per share above estimates. Revenue also exceeded Wall Street forecasts. The manufacturer of adhesives, sealants and other industrial products saw a special strength in health and hygiene related products, although it saw weakness in construction adhesives. The most complete shares increased 6.2% in premarketing stock.
Royal Philips (PHG) – The healthcare technology company signed an agreement to sell its Home Appliances unit to investment firm Hillhouse Capital for about $ 4.4 billion. The transaction includes the right for Hillhouse to use the Philips brand for 15 years, with the possibility of renewal. Shares of Philips added 1.6% to the premarket.
Advanced Micro Devices (AMD): Chips maker shares rose 1% in premarket trading after Northland Capital Markets upgraded shares to “outperform” them from “market performance”. Northland called Intel’s (INTC) decision to re-enter the foundry business as a “false strategic step” and said AMD would benefit.
ViacomCBS (VIAC): The shares of the media company remain monitored after falling more than 30% in the last two sessions. This followed the company’s announcement that it would raise $ 3 billion through the sale of shares. It fell 1.1% more in the pre-market.