Find out which companies are making the headlines in the pre-market.
General Mills – Shares of General Mills were up 1.7% pre-market after the food company reported better-than-expected quarterly profits. General Mills posted adjusted earnings of 99 cents per share, against an analyst consensus of 89 cents per share, according to StreetAccount. Quarterly revenues also exceeded expectations.
Adobe – Adobe shares fell 3.7% in early morning trading despite the software company’s quarterly financial results beating Wall Street expectations. The company reported earnings of $ 3.11 per share on revenue of $ 3.94 billion. Analysts expected earnings of $ 3.01 per share on revenue of $ 3.89 billion, according to Refinitv.
FedEx – FedEx shares fell 6.1% in pre-market trading after the company’s quarterly profits beat expectations. The transportation company reported earnings of $ 4.37 per share, 54 cents below the consensus of analysts at Refinitiv.
Stitch Fix – Stitch Fix shares jumped 12.8% in early morning trading after reporting a surprise profit in the fiscal fourth quarter. The online sales and styling department reported a profit of 19 cents per share compared to an expected loss of 13 cents per share, according to Refinitiv. Stitch Fix also beat revenue forecast and saw 18% year-over-year growth in the number of active customers.
Hyatt Hotels – Hyatt Hotels shares fell 1.2% pre-market after the hotel company announced a public offering of 7 million Class A common stock to fund part of its planned acquisition of Apple Leisure Group.
Disney – Disney shares were up 0.9% pre-market after Credit Suisse said the sale of Disney the day before was an overreaction and the stock could rebound by more than 27%. Shares of the media and entertainment giant fell more than 4% on Tuesday after CEO Bob Chapek warned of headwinds over subscription video streaming growth in the fourth quarter and forecast subscriber growth to the fourth quarter weaker than expected.
SoFi – SoFi shares jumped 3.4% after Jefferies launched the personal finance app with a buy note, saying the stock can jump over 60% in the next 12 months. âWe believe that ‘Flywheel’, SoFi’s synergistic business model, will continue to drive significant user growth, product adoption and margin expansion,â said Jefferies.
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