Check out the companies that make headlines before the alarm goes off:
Food containing hormones (HRL) – Hormel fell 4.2% in currency markets after issuing a series of quarterly results and guidance. The food maker’s quarterly revenue beat forecasts, but earnings were a bit short. The same holds true for its full-year outlook as Hormel expects operating costs to be higher.
Campbell Soup (CPV) – Campbell Soup lost 2.4% in money markets after quarterly profits and sales matched Wall Street estimates. Campbell gave an upbeat forecast, saying it expected continued growth in demand for soups and other food products.
Ciena (CIEN) – Ciena fell 11.6% in pre-market trading after the networking equipment maker missed estimates for revenue and profit for the latest quarter. Ciena still sees strong customer demand but its sales continue to be hit by component shortages.
Lands ‘End (LE) – The apparel retailer’s shares fell 8.3% in pre-market trading despite narrower-than-expected quarterly losses and sales that fell short of consensus. Lands’ End cuts its full-year outlook as challenges in global supply chains drive up costs.
Signet Jewelers (SIG) – Signet jumped 4% in pre-market trading after its quarterly profit beat estimates, even amid a stronger-than-expected drop in same-store sales. The company also confirmed its previous full-year guidance.
Okta (OKTA) – Okta slipped 16.1% in currency markets despite better-than-expected quarterly results and improved outlook. The identity management software company says it is experiencing unexpected integration issues after acquiring rival Auth0 last year.
Pure storage (PSTG) – Pure Storage rose 5.7% in pre-market trading after the data storage company reported positive quarterly earnings amid mixed results from industry rivals.
Nutanix (NTNX) – Nutanix stock rose 16.3% in trading before the cloud computing company beat analysts’ forecasts for the latest quarter. The company also saw an increase in annual recurring bills and revenue.
Year below (YEAR) – Five Below has rallied 3.2% in currency markets despite top and bottom gains both missing out in the most recent quarter. Shares of the discount retailer spiked after Chief Financial Officer Kenneth Bull said Five Below is poised to benefit during the upcoming holiday season from consumers’ money-saving efforts amid high inflation.
MongoDB (MDB) – Shares of MongoDB fell 16.8% in pre-market trading after the cloud computing company predicted larger-than-expected losses in the second half of the year. MongoDB reported a smaller loss in its most recent quarter than analysts expected, and revenue also beat forecasts.
Nvidia (NVDA) – Nvidia dropped 4.3% in currency markets after the graphics chip maker warned it expects up to $400 million in revenue from new US licensing requirements. Those rules would impose restrictions on shipments of their most advanced chips to China. Advanced Microphone Device (AMD) said some of its chips will be affected by those new requirements, and its shares fell 2.6% in after-hours trading.
