Stocks making the biggest moves premarket: Campbell Soup, Express, Thor Industries and others
Check out the companies making headlines before the bell:
Campbell Soup (CPB) – The food producer matched estimates with adjusted quarterly earnings of 69 cents per share, and revenue essentially in line with forecasts as well. Campbell’s adjusted gross margins slid 340 basis points due to cost inflation. It said demand trends are strong and the company maintained its full-year guidance issued in December. Campbell rose 1% in premarket trading.
Express (EXPR) – The apparel and accessories retailer’s shares rallied 10.5% in the premarket despite a wider-than-expected quarterly loss. Express saw better-than-expected sales and a comparable-store sales increase of 43%, more than double the consensus FactSet estimate.
Thor Industries (THO) – The recreational vehicle maker saw its shares jump 8.6% in premarket trading after it reported quarterly earnings of $4.79 per share, compared with the $3.39 consensus estimate. Revenue also topped forecasts as the company cut back on discounts and expanded its profit margins.
Amazon.com (AMZN) – The House Judiciary Committee is asking the Justice Department to start a criminal probe of Amazon, according to people familiar with the matter who spoke to the Wall Street Journal and a letter seen by the paper. The letter accuses Amazon of failing to provide information related to the examination of the company’s competitive practices. Amazon rose 1.5% in premarket action.
PepsiCo (PEP) – The beverage and snack giant suspended the sale of its soda brands in Russia, although it will continue to sell potato chips and various daily essentials like baby formula. The Wall Street Journal said PepsiCo is currently exploring various options for its Russian unit, including writing off the value of that business.
Stitch Fix (SFIX) – Stitch Fix tumbled 26.4% in the premarket after it issued weaker-than-expected sales guidance and said it continues to face challenges in getting customers to sign up for its styling service. Stitch Fix matched estimates with a quarterly loss of 28 cents per share, while the clothing styling company’s revenue topped forecasts.
Bumble (BMBL) – Bumble soared 22% in premarket trading after the dating service operator reported an adjusted quarterly profit of 13 cents per share, beating estimates of a breakeven quarter. the company also forecasts strong 2022 growth.
Gannett (GCI) – The USA Today publisher misled advertisers about where their website ads were being placed for 9 months, according to research obtained by the Wall Street Journal. Gannett told the Journal it inadvertently provided incorrect information to advertisers and regrets the error. Gannett fell 2% in premarket action.
XPO Logistics (XPO) – The trucking and transportation company will split off its brokered transportation services unit into a separate company, and plans to divest its European business and its North American intermodal operation. XPO surged 13.3% in the premarket.
General Electric (GE) – GE shares gained 1.6% in premarket trading after the company’s board of directors authorized a $3 billion share repurchase program.
