Moderna, Cools, Intuit, Analog Devices and more

People walk near the entrance to a Kohl’s store on June 07, 2022 in Doral, Florida.

Joe Riddle | Getty Images

Check out which companies are making headlines in pre-market trading on Wednesday

Moderna The biotech company added 2.4% amid renewed concern about Covid-19 in China after a surge in infections.

VF Corporation Shares in the apparel and shoemaker rose 3.3% on better-than-expected fourth-quarter financial results. The company earned an adjusted 17 cents per share, beating Refinitiv’s forecast of 14 cents per share. Revenue of $2.74 billion was also slightly above expectations.

XPeng Shares of the electric car maker fell 4.7% after losing earnings. XPeng also issued weaker-than-expected revenue guidance for the second quarter. However, CEO He Xiaoping said he was “confident in moving our company into a virtuous cycle driving the growth of product sales, team morale, customer satisfaction, and brand reputation over the next few quarters.”

Palantir Technologies Shares fell 2.2% in pre-market trading, marking their first drop in three sessions. Arc Invest by Cathy Wood The company’s website showed that he recently bought more than $4 million worth of Palantir stock.

Analog Devices – Analog devices were down 5.3% in pre-market trading on the back of Weaker than expected guidance for the third quarter for the third quarter of the fiscal year. Analog Devices expects adjusted earnings of approximately $2.52 per share in the third quarter, compared to forecasts of $2.65 per share, according to consensus estimates on FactSet. It expects revenue of about $3.10 billion, down from an estimate of $3.16 billion. In a statement, CEO Vincent Roche said, “Looking into the second half, we expect revenue to moderate given continued economic uncertainty and the normalization of supply chains.”

See also  Ford to cut up to 3,000 paid jobs, many in Michigan: What we know

First Horizon – The regional bank added 2.3% in pre-market trading after an upgrade to buy from Jefferies. The company said the bank enjoys tier one capital strength and is at a discount to its peers.

Palo Alto Networks — Cybersecurity stocks rose nearly 5% in premarket trading after Palo Alto Networks reported a third fiscal quarter that beat analyst estimates. The company reported $1.10 in adjusted earnings per share on $1.72 billion in revenue. Analysts surveyed by Refinitiv put 93 cents of earnings per share on $1.71 billion in revenue. Palo Alto’s fourth-quarter earnings guidance was also higher than expected.

Kohl’s — The retailer emerged more than 13% after it reported better-than-expected results and surprising earnings for the most recent quarter. Cole also repeated the previous directive.

Intuit — The tax and accounting technology maker suffered a 5 percent drop after the company missed revenue forecasts, according to Refinitiv, in its fiscal third quarter. Intuit reports that this result was partly thanks to lower tax returns.

— CNBC’s Jesse Pound, Samantha Sobin, Alex Haring, Sarah Main and Tanaya Machell contributed to reporting

Leave a Reply

Your email address will not be published. Required fields are marked *