Stock Groups

Walgreens, Bed Bath & Beyond, Conagra and others

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

Walgreens (WBA) – The drug store operator’s shares gained 2.9% in the premarket, after beating estimates on both the top and bottom lines for its latest quarter. Walgreens’ adjusted share price was $1.68, which is lower than the consensus estimate of $1.33. This increase in demand for Covid-19 vaccines and testing boosted Walgreens’ earnings.

Bed Bath & Beyond (BBBY) – The housewares retailer tumbled 9.3% in premarket trading, after reporting an adjusted quarterly loss of 25 cents per share compared with a consensus estimate of breakeven. Wall Street’s forecasts also failed to materialize in the case of comparable store sales.

Constellation Brands (STZ) – The spirits producer’s stock initially fell 2% in the premarket after reporting earnings, before recovering that loss. Constellation’s share price was $3.12, which is an adjustment from the $2.76 consensus estimate. Sales also beat forecasts.

Conagra (CAG) – Conagra fell 1% in the premarket after missing estimates by 4 cents with an adjusted quarterly profit of 64 cents per share, although revenue was slightly above forecasts. Conagra increased its full year sales forecast because of higher prices for its frozen foods and stronger demand.

Helen of Troy (HELE) – Helen of Troy shares added 2.2% in premarket trading after the household products company beat consensus estimates in its latest quarter and raised its earnings outlook. Helen of Troy’s adjusted quarterly profit was $3.72 per share which is significantly higher than the $3.11 analyst were anticipating. These results were driven primarily by double-digit sales growth of housewares, beauty products and other household goods.

Pfizer (PFE), BioNTech (BNTX) – The CDC has recommended the use of the Pfizer/BioNTech Covid-19 vaccine as a booster shot for the 12 to 15 years old age group. According to the agency, about half of the population is currently fully vaccinated. About a third will then return for booster shots. Premarket trading saw BioNTech rise 2.5%, and Pfizer remained unchanged.

Hasbro (HAS) – The toymaker named digital gaming business head Chris Cocks as its next CEO, effective February 25. Rich Stoddart was the interim CEO. He has held that position since Brian Goldner died last October.

Coinbase (COIN) – Coinbase reversed an earlier premarket slide and rose 1%, following an upgrade to “buy” from “neutral” at BofA Securities. Coinbase’s yesterday 6.4% loss was originally extended after its shares plunged for four days. This happened as cryptocurrency prices plummeted. Yesterday’s Fed minutes were released and losses increased.

Datadog (DDOG) – Datadog shares added 2.2% in the premarket after the monitoring and security platform provider announced a new partnership with AmazonWeb Services, which will concentrate on tightening and developing product alignment.

ADT (ADT) – ADT lost 2.1% in premarket trading after RBC Capital downgraded the home security products provider to “sector perform” from “outperform,” and cut its price target to $10 from $12 per share. RBC points out component and wage inflation as two of many factors.

Allbirds (BIRD) – The footwear maker’s stock rallied 5.7% in the premarket after Morgan Stanley upgraded it to “overweight” from “equal-weight”. Because of recent stock pullbacks and the potential for growth, Morgan Stanley said that the company’s value is superior to other comparable companies.

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