Campbell Soup, Moderna, Western Digital and others
See which companies are making the headlines even before the bell rings.
Campbell Soup (CPB) – The food producer’s shares rallied 3.7% in the premarket after Campbell reported an adjusted quarterly profit of 70 cents per share, 9 cents above estimates. Also, sales beat estimates and the company increased its full-year outlook. Campbell reiterated its earlier earnings outlook and said it expects that core inflation will rise faster than in its original forecast.
Thor Industries (THO) – The recreational vehicle maker’s stock surged 6.9% in premarket trading following better-than-expected quarterly results. Thor posted $6.32 per Share, well beyond the $4.77 consensus estimate. It was also able to take advantage of strong product demand. Thor stated that there are signs of improving supply chain problems.
Moderna (MRNA) – Moderna added 1.6% in the premarket after a modified version of its Covid-19 booster shot prompted a stronger immune response than the company’s original vaccine against the omicron variant. The data will be provided to U.S. regulators within the coming weeks.
Western Digital (WDC) – Western Digital said it is reviewing strategic alternatives, including a possible split of its flash memory and disk drive businesses. Elliott Management is an activist investor that owns 6 percent of Western Digital. It has advocated for these changes. The premarket action saw shares jump 3.8%.
Hasbro (HAS) – Hasbro will be successful in pushing back a board challenge from activist investor Alta Fox, according to people familiar with the matter who spoke to Reuters. Alta Fox is critical of the strategy of the toymaker and has asked Hasbro for the dissolution of its Wizards of the Coast division.
Credit Suisse (CS) – Credit Suisse warned of a likely second-quarter loss, due to the negative impacts of the Russia/Ukraine war, monetary tightening and other financial market conditions. It did not say how much. Credit Suisse fell 6.1% during the premarket
Novavax (NVAX) – Novavax soared 15.7% in premarket trading after it won an endorsement of its Covid-19 vaccine from an FDA advisory panel. Now, the full FDA will decide whether to approve or deny approval.
DocuSign (DOCU) – DocuSign shares rallied 4.6% in premarket action after the electronic signature technology company announced an expanded global partnership with Microsoft (MSFT). This deal will allow DocuSign to be integrated into Microsoft’s software programs.