Take a look at some of the biggest movers in the premarket:
Levi Strauss (LEVI) – Levi Strauss reported quarterly profit of 34 cents per share for its latest quarter, 9 cents a share above consensus. Revenue also came in above Wall Street forecasts with help from a 41% rise in digital sales. The apparel maker raised its revenue forecast for the first half of this year, betting on a rebound in-store traffic as vaccines roll out. The company’s stock jumped 5.7% in premarket trading.
WD-40 (WDFC) – WD-40 fell 8 cents a share short of estimates, with quarterly earnings of $1.24 per share. The lubricant maker’s revenue also came in below analysts’ projections. The company said supply chain issues hurt its ability to meet customer demand, and its stock tumbled 7.9% in the premarket.
FuboTV (FUBO) – FuboTV won the streaming rights to the Qatar World Cup 2022 qualifying matches involving the 10 teams in the South American Football Confederation. Terms of the deal were not disclosed. The stock surged 6.2% in the premarket.
Bridgetown Holdings (BTWN) – The SPAC backed by billionaire investors Peter Thiel and Richard Li is in advanced talks to take Indonesia-based travel services company Traveloka public, according to people familiar with the matter who spoke to Bloomberg. Bridgetown shares added 3.5% in premarket trading.
Honeywell (HON) – Honeywell shares rose 1.3% in premarket action after Deutsche Bank upgraded the stock to “buy” from “hold,” noting underperformance so far in 2021 as well as Honeywell’s favorable exposure to the current state of the economic cycle. JPMorgan Chase also named Honeywell a “top pick,” citing similar reasons.
Okta (OKTA) – Okta shares rose 2.5% in premarket trading after a 7.2% gain Thursday. That followed a meeting with analysts at which the maker of identity management software reiterated its guidance for the year and introduced two new products that could expand its addressable market.
Amazon.com (AMZN) – Amazon workers at an Alabama warehouse appear to be on the way to rejecting unionization, with about half of the approximately 3,200 ballots counted. So far, the tally shows workers voting against a union by a more than 2-1 margin, although Reuters reports about 500 ballots have already been challenged.
Southwest Airlines (LUV) – Southwest is recalling more than 2,700 flight attendants from leaves of absence, in anticipation of a rebound in summer travel demand. That follows the recall of more than 200 pilots by the airline last week.
PriceSmart (PSMT) – PriceSmart reported higher quarterly profit and sales compared to a year ago, though the discount retailer’s results were below estimates from the few analysts that cover the company. PriceSmart said the pandemic continues to weigh on its business in certain markets.
Sogou (SOGO) – China regulators are set to clear the purchase of the country’s third-largest search engine by tech giant Tencent Holdings, according to people with knowledge of the matter who spoke to Reuters. Tencent is planning to pay $3.5 billion for the 60% of Sogou that it does not already own. Sogou shares jumped 6.2% in premarket action.
Chipotle Mexican Grill (CMG) – The restaurant chain’s stock remains on watch after rising for the past six sessions in a row. The stock was up 1.6% yesterday after Wedbush analyst Nick Setyan reiterated an “outperform” rating on data indicating that same-restaurant sales growth is near the high end of the company’s forecast. Chipotle shares have nearly doubled over the past 12 months.
AT&T (T) – AT&T said it would record a non-cash gain of $2.8 billion for the first quarter related to its pension plan, as distributions exceed a threshold that would have required it to remeasure its pension obligations.
(With inputs from CNBC)
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