Lowe’s, Tenneco, Tupperware and others
See which companies are making the headlines even before the bell rings.
Lowe’s (LOW) – Lowe’s shares added 1.6% in the premarket after the home improvement retailer beat top and bottom-line estimates for the fourth quarter. Lowe’s reported $1.78 per Share, seven cents higher than the estimates and offered positive full-year guidance, as high demand for tools and other building materials continued to drive it.
Tenneco (TEN) – The automotive components maker agreed to be acquired by affiliates of Apollo Global ManagementTenneco close Tuesday, September.98 at 9.98 per share. (APO) $20 per share cash. It is anticipated that the deal will close in the second half this year. Tenneco surged by 91.7% after premarket actions.
Tupperware (TUP) – The maker of home storage products saw its shares slump 3% in the premarket following its quarterly earnings report. Tupperware reported that its revenue exceeded Street expectations, although adjusted profits of 38 cents per shares missed forecasts by 14 cents. This was due to what Tupperware called “challenging operating circumstances”. Tupperware said it expected both top- and bottom-line growth for 2021, despite these challenges.
Palo Alto Networks (PANW) – The cybersecurity software company beat estimates by 9 cents with adjusted quarterly earnings of $1.74 per share and revenue that topped Street forecasts as well. Palo Alto provided a more optimistic forecast. The shares rose 7.8% in premarket trades.
Virgin Galactic (SPCE) – The space tourism company’s stock jumped 4.1% in premarket action after it reported a narrower-than-expected quarterly loss and improvement in its cash position.
Stellantis (STLA) – The automaker beat its profit targets in the first year following the merger of Fiat Chrysler and Peugeot parent PSA Group. It stated it also realized the anticipated benefits of that merger sooner than expected. Premarket, its stock surged 6.3%
GlaxoSmithKline (GSK), Sanofi (SNY) – GlaxoSmithKline rose 1.7% in the premarket and Sanofi was up 1.5% following news that the two companies would submit their Covid-19 vaccine to global drug regulators for approval.
Caesars Entertainment (CZR) – The casino operator’s stock jumped 4.5% in premarket trading after the company reported a 63% jump in revenue compared with a year ago, and a narrower loss.
Mosaic (MOS) – The fertilizer producer’s shares slid 5.6% in premarket action after the company’s quarterly earnings and revenue fell below analyst forecasts. Mosaic stated that it anticipates price increases to continue.
Quest Diagnostics (DGX) – The medical lab operator’s stock was down 2.1% in the premarket after UBS downgraded it to “neutral” from “buy.” UBS stated that there was risk of the earnings targets being met for fiscal 2023 due to UBS’s high level investment in growth.
Kodiak Sciences (KOD) – The drugmaker said a mid-to-late stage trial of its experimental eye drug failed to show it was not inferior to Regeneron’s (REGN) Eylea macular degeneration treatment. Kodiak fell 69.2% during premarket trading, and Regeneron increased 4.5%