Check out the companies that made headlines in Wednesday’s pre-market trading
Moderna — The biotech firm rose 2.4% as coronavirus fears reignited in China after a rising number of cases.
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VF Co., Ltd. — Shares of the clothing and footwear maker rose 3.3% after better-than-expected fourth-quarter results. The company’s adjusted earnings were 17 cents per share, beating Refinitiv’s forecast of 14 cents per share. Sales were also slightly above expectations at $2.74 billion.
XPeng — Electric car makers fell 4.7% after poor performance. XPeng also announced a weaker earnings outlook than expected for the second quarter. Still, CEO He Xiaopeng said, “Over the coming quarters, we are confident that we will lead the company into a virtuous circle that will drive product sales growth, team morale, customer satisfaction and brand reputation.” said.
Palantir Technologies — The stock fell 2.2% in pre-market trading, its first pace of decline in three sessions. Kathy Wood’s Ark Investments It recently bought more than $4 million worth of Palantir shares, according to its website.
Analog Devices — Analog Devices fell 5.3% in premarket trading. Third quarter outlook weaker than expected Heading into the third quarter of the fiscal year. According to FactSet’s consensus forecast, ADI’s third-quarter adjusted earnings are expected to be about $2.52 per share, compared with expectations of $2.65. Revenue is expected to be around $3.1 billion, below the forecast of $3.16 billion. “Looking ahead to the second half of the year, we expect continued economic uncertainty and moderated sales given the normalization of supply chains,” Chief Executive Vincent Roche said in a statement. said.
First Horizon — Regional banks added 2.3% in pre-market trading after Jeffries’ upgrade from hold to buy. The company said it has top-class capital strength and is undervalued compared to its peers.
Palo Alto Networks — Cybersecurity shares rose nearly 5% in pre-market trading after Palo Alto Networks reported a third-quarter fiscal year that beat analyst expectations. The company reported adjusted earnings per share of $1.10 on revenue of $1.72 billion. Analysts surveyed by Refinitiv had posted earnings of 93 cents a share on revenue of $1.71 billion. Palo Alto’s fourth-quarter earnings outlook also beat expectations.
Coles — The retailer surged more than 13% after reporting better-than-expected results and unexpected profits in the most recent quarter. Cole also reiterated previous guidance.
Intuition – According to Refinitiv, the tax and accounting technology maker suffered a 5% decline as its third-quarter revenue fell below expectations. Intuit reports that the result is due in part to a decline in tax returns.
— CNBC’s Jesse Pound, Samantha Soobin, Alex Haring, Sarah Min and Tanaya Machel contributing to the report
