Illumina, Rivian, Juniper Networks and more
Here are some top movers of the premarket.
Illumina (ILMN) – Illumina issued a 2022 revenue outlook that exceeded consensus analysts’ estimates, noting strong demand for its gene sequencing treatments as well as new partnerships with four health care companies. Illumina’s premarket sales rose 4.1%
Rivian (RIVN) – Rivian fell 3.5% in premarket trading following news that its Chief Operating Officer Rod Copes had left the electric truck maker.
Juniper Networks (JNPR) – Juniper shares rallied 5.3% in the premarket following a double upgrade by BofA Securities to “buy” from “underperform.” It was stated that networking vendors were still highly valued, and Juniper’s management seems conservative.
Albertsons (ACI) – The supermarket operator reported quarterly earnings of 74 cents per share, 14 cents a share above estimates. Wall Street’s forecasts were exceeded as well. Premarket trading saw Albertsons share prices rise by 3.5%
Intel (INTC) – Intel named Micron Technology(MU), Chief Financial Officer David Zinsner has been appointed as the company’s next CFO. At the same moment, Gregory Bryant from the client computing division was announced as leaving chipmaker. Micron dropped 1%, and Intel rose 1.7% in premarket.
Accolade (ACCD) – The workplace benefits technology company surged 10.9% in premarket action, following better-than-expected quarterly results. Accolade’s share price was 31 cents, against analysts’ predictions of a loss of 74 cents. Accolade also released a revised full-year revenue outlook.
IBM (IBM) – IBM shares fell 2.3% in the premarket after UBS downgraded it to “sell” from “neutral,” citing risks to operating results as well as what it feels is an “elevated valuation.”
CVS Health (CVS) – The drug store operator and pharmacy benefits manager raised its full-year earnings outlook, now expecting a profit of $8.33 to $8.38 per share. This is compared to the prior consensus of $8.03/share and an outlook of $8.00 per stock. CVS increased 1.1% in Premarket.
Big Lots (BIG) – Big Lots said it has seen a softening of traffic and sales trends this month, with the discount retailer citing winter weather and the spread of the Covid-19 omicron variant. Premarket trading saw shares tumble 7.4%.
Abercrombie & Fitch (ANF) – Abercrombie rallied 5.9% in the premarket, despite a cut in the apparel retailer’s quarterly sales outlook. Abercrombie stated that it has seen an increase in sales post-holidays, while issuing the outlook.