Check out the companies that made headlines hours ago:
Conagra (CAG) – Food producers’ stock in the primary market fell 5.5% after the release of a weak-expected forecast for the fiscal year ending May. Conagra’s results are being hit by high transportation and raw material costs.
Levi Strauss (LEVI) – Levi Strauss lost the estimate by 4 cents to 46 cents per share with a consistent quarterly profit, and apparel manufacturer earnings also topped the Wall Street forecast. The company has seen strong demand for its jeans, tops and jackets while successfully raising prices and reducing publicity. Levi Strauss rose 3% in premarket trading.
HP Inc. (HPQ) – HP’s pre-market trading is up 15.2% after Warren Buffett’s Berkshire Hathaway reported an 11.4% stake in personal computer and printer manufacturers.
Right Aid (RAD) – The stock fell 18.3% in premarket action after the Deutsche Bank downgraded the drugstore operator from “hold” to “sell.” Deutsche Bank says Kovid has accelerated the collapse of the retail pharmacy segment, and there is a possibility that Right Aid may not be able to earn enough to continue as an operating company.
Wafer (W) – Wafer fell 4.1% in the primary market after the Wells Fargo stock was downgraded from “equal weight” to “underweight”. Wells Fargo said high-quality furniture retailers would be hurt by declining demand, overly optimistic consensus estimates and other headwinds.
Rent the Runway (Rent) – Rent the Runway stock jumped 3.9% in the premarket as the fashion rental company announced price increases for its customers.
CDK Global (CDK) – Automotive retail technology provider has agreed to be bought by Brookfield Business Partners for শেয়ার 54.87 per share in cash. The price represents a 12% premium to CDK’s closing price on Wednesday.
SoFi Technologies (SOFI) – Shares of online personal finance company fell 5.1% in the pre-market after cutting its full year outlook. The White House followed suit by announcing a student loan repayment suspension would be extended.
JD.com (JD) – JD.com has announced that founder Richard Liu has resigned as CEO and President Xu Lei will take over as CEO of a Chinese e-commerce company. Liu will remain chairman. JD.com fell 1.1% in the primary market.
Teladoc Health (TDOC) – Virtual Doctor Visit provider Premarket Action’s stock rose 1.5% when Guggenheim launched coverage with a “buy” rating. Guggenheim said Healthcare Access is moving further towards digital interaction and Teladok has a wider service portfolio than other providers.