Check out the companies that make the headlines before the doorbell rings:
Campbell Soup (CPB) – The grocery maker beat sales and earnings estimates for its final quarter, earned an adjusted 55 cents a share, and beat consensus by 7 cents. It issued an adjusted earnings outlook for fiscal 2022 of $ 2.75 to $ 2.85 per share, compared to a consensus estimate of $ 2.87 due to higher input costs and a constrained labor market. Shares initially gained more than 1% in pre-trading hours, but later reduced those gains.
PVH (PVH) – PVH reported adjusted quarterly earnings of $ 2.72 per share, well above the consensus estimate of $ 1.20, while the apparel maker’s revenue also beat forecasts. The company behind the brands Tommy Hilfiger and Calvin Klein has also raised its sales forecast for the full year. The PVH share rose by 7.8% before the IPO.
Ambarella (AMBA) – Ambarella gained 9.1% in pre-market trading after being 10 cents above estimates with adjusted quarterly earnings of 35 cents per share. Sales also exceeded the analysts’ forecasts. The maker of chips for cars and cameras said demand is high and sales could hit a 5-year high this quarter.
CrowdStrike (CRWD) – CrowdStrike beat Street forecasts by 2 cents with adjusted quarterly earnings of 11 cents per share, while revenue was also above estimates. The cybersecurity firm also raised its full-year outlook, but stocks fell 2.2% ahead of the launch.
Philips (PHG) – Philips has received FDA clearance to begin repairing and replacing its DreamStation breathing apparatus after the agency approved its proposal to replace noise control materials. The Dutch tech company called back up to 4 million devices in June trying to address a potential toxicity problem with soundproof foam. Philips gained 2.3% in the premarket.
Sunrun (RUN) – The solar energy company’s stock rose 3.6% ahead of the IPO after two positive analyst mentions. It was included on JPMorgan Chase’s US analyst focus list and was also among the clean energy stocks that were named “market overweight” in new Wolfe Research reporting. Wolfe said the move to clean energy is a secular trend that will continue well beyond the current economic cycle.
Nio (NIO) – The shares of the China-based electric vehicle maker fell 4.6% in pre-trading hours after lowering its third quarter delivery outlook due to supply chain restrictions.
Intuit (INTU) – Intuit is in talks to purchase email marketing company Mailchimp for more than $ 10 billion, according to people familiar with Bloomberg. Such a deal would expand the small business personal finance software company’s tools, which include QuickBooks and Credit Karma.
Southwest Airlines (LUV) – Southwest pilots are suing the airline for changes in working conditions in the wake of the Covid-19 pandemic. The pilots argue that these changes should have been the subject of negotiation with their union, while the company said such negotiations were not necessary.
Canadian National Railway (CNI) – Canadian National will not be allowed to use temporary voting rights in its $ 30 billion deal to purchase Kansas City Southern (KSU) following a decision by the Surface Transportation Board. This could pose a significant barrier to the transaction’s completion and another opportunity for the Canadian Pacific Railway (CP), which has also offered to buy Kansas City Southern.
Sprouts Farmers Markets (SFM) – Sprouts said its chief financial officer Denise Paulonis is leaving the natural grocery chain, with board member Lawrence Molloy succeeding Paulonis on Sept. 25.