Stock Groups

Darden Restaurants, Winnebago, FedEx and others

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Take a look at the top companies that made headlines long before the bell rang.

Darden Restaurants (DRI) – The parent of Olive Garden, Longhorn Steakhouse and other restaurant chains beat estimates by 5 cents with quarterly earnings of $1.48 per share and revenue that also topped forecasts. StreetAccount’s consensus estimate of 32.6% was higher, but same-restaurant sales rose by 34.4%. Darden released a more optimistic forecast. Darden also announced that Eugene Lee, CEO, will be retiring in May 2022. He will be succeeded by Ricardo Cardenas, President and Chief Operating Officer. Premarket, Darden declined 5%

Winnebago (WGO) – The recreational vehicle maker added 3.4% in premarket trading after a sizable bottom-line beat for its fiscal first quarter. Winnebago reported a profit of $3.51 per share versus the $2.26 consensus estimate and revenue which also exceeded analyst expectations.

FedEx (FDX) – The delivery service’s shares rallied 5.9% in the premarket after beating estimates on the top and bottom lines for its latest quarter. FedEx posted an adjusted $4.83 per Share, surpassing the $4.28 consensus estimate. The higher shipping rates help make up for rising expenses.

Rivian (RIVN) – The electric vehicle maker lost $1.23 billion for the third quarter stemming from expenses to begin production of its electric pickup truck. Rivian reported its first quarter since becoming public. Its revenue increased by $1 million in the first three months of production. In premarket trading, the stock plunged 7.9%.

Bottomline Technologies (EPAY) – Bottomline shares soared 15.1% in the premarket after the fintech company agreed to be acquired by private equity firm Thoma Bravo for $57 per share in cash, or $2.6 billion.

Cerner (CERN) – The healthcare information-technology company’s stock soared 18.9% in premarket trading after the Wall Street Journal reported that OracleORCL was at the table to purchase Cerner for $30 billion. Oracle fell 4.6%.

Johnson & Johnson (JNJ) – J&J shares fell 2.1% in the premarket after the CDC recommended that adults receive the Pfizer(PFE) Moderna (MRNA) Covid-19 vaccines rather than the J&J shot. New data from the CDC showed that there was more blood clotting disorder than thought. However, this condition is still rare.

Affirm Holdings (AFRM) – The “buy now pay later” company’s stock fell 2.3% in the premarket after the Consumer Financial Protection Bureau said it was launching an inquiry into firms that offer such plans.

Novavax (NVAX) – The drug maker’s stock rose 1.3% in premarket action on a Financial Times report that the European Medicines Agency may approve its Covid-19 vaccine for emergency use as early as next week.

U.S. Steel (X) – The steel maker’s stock slid 4.4% in the premarket after the company issued lower-than-expected current-quarter guidance, with higher expenses and cautious customer buying patterns offsetting improved steel pricing.

Steelcase (SCS) – The office furniture maker reported lower-than-expected profit and revenue for the third quarter, with Steelcase saying its results have been impacted by supply chain issues and higher costs. Premarket trading saw Steelcase fall 4.4%.

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