Take a look at some of the biggest moving agents in the premarket:
Rite Aid (RAD) – Rite Aid expects to report a loss for its recently ended fiscal year, compared to analysts’ $ 125 million profit forecast. The pharmacy chain was affected by a 37% drop in sales of colds, coughs and flu, as people suffered from these diseases much less due to pandemic blockages. Rite Aid shares decreased by 18.6% in the premarket share.
Walgreens (WBA) – the pharmacy operator’s stock fell by 2% in the premarket, possibly in sympathy with Rite Aid. Deutsche Bank also labeled the action as an “idea to buy a catalyst call”, citing short-term problems, but said the Covid vaccine could provide a positive opportunity for Walgreens in both the short and long term. .
Darden Restaurants (DRI) – The father of Olive Garden and other restaurant chains reported quarterly earnings of 98 cents a share, well above the consensual estimate of 69 cents a share. Revenues also exceeded estimates and, although sales in the same restaurants fell by 26.7% compared to a year ago, this was a decrease of less than 31.2% anticipated by analysts surveyed by FactSet. Darden shares rose 4.2% in premarket trading.
Coherent (COHR) – Coherent has accepted a takeover bid from optical component manufacturer II-VI (IIVI), ending a long bidding battle between II-VI and fiber optic company Lumentum (LITE). Coherent – a provider of lasers and related technology – approved the $ 220 per share cash offer and $ 0.91 II-VI shares for each coherent share and will pay Lumentum a parting fee of $ 217.6 million. II-VI decreased by 8%, while Lumentum increased by 7.2% in the premarket.
RH (RH) – RH reported quarterly earnings of $ 5.07 per share, exceeding the consensus estimate of $ 4.76 per share. Also, the father of Restoration Hardware recorded higher revenues than analysts forecast. RH has reported strong demand for its state-of-the-art furniture and other luxury products and expects revenue for the current quarter to increase by at least 50%. HR shares increased by 8.4% in the premarket share.
KB Home (KBH) – KB Home exceeded estimates by 10 cents per share, with a quarterly profit of $ 1.02 per share. The home builder’s revenue missed analysts’ forecasts, despite a 23% increase in net orders and a 4% increase in deliveries. KB Home shares fell 1.9% in premarket trading.
AstraZeneca (AZN) – The drug maker said an updated analysis of the US study of the Covid-19 vaccine showed an effectiveness of 76%, compared to 79% in a report earlier this week. The previous report did not include more recent infections and was subject to control by an independent data monitoring committee.
Nike (NKE) – Nike is the target of criticism on Chinese social media for a statement in which the shoe and sportswear manufacturer said it was “concerned” by reports of forced labor in Xinjiang. Nike also said it does not supply products from the region. Shares fell 4.5% in premarket trading.
HB Fuller (FUL) – HB Fuller reported a quarterly profit of 66 cents per share, 19 cents per share above estimates. Revenue also exceeded Wall Street forecasts. The manufacturer of adhesives, sealants and other industrial products has seen particular strength in health and hygiene products, although it has seen a weakness in construction adhesives. Complete shares increased by 6.2% in premarket share.
Royal Philips (PHG) – The health technology company has entered into an agreement to sell its home appliance unit to investment firm Hillhouse Capital for about $ 4.4 billion. The transaction includes the right for Hillhouse to use the Philips brand for 15 years, with the possibility of renewal. Philips shares added 1.6% to the premarket.
Advanced Micro Devices (AMD) – Chip maker shares rose 1% in premarket trading after Northland Capital Markets updated the stock to “outperform” “market performance”. Northland called Intel’s (INTC) move to re-enter the foundry industry as a “strategic faux pas” and said AMD would benefit.
ViacomCBS (VIAC) – The shares of the media company remain under surveillance after a fall of over 30% in the last two sessions. This followed the company’s announcement that it would raise $ 3 billion by selling shares. It fell another 1.1% in the premarket.