Stock Market

In this article

Check out the companies making headlines before the bell:

FedEx (FDX) – FedEx earned an adjusted $4.59 per share for its latest quarter, missing estimates by 5 cents, though the delivery service’s revenue beat analyst forecasts. FedEx’s bottom line was impacted by worker shortages stemming from the Covid-19 omicron variant outbreak during the quarter. FedEx lost 3.1% in the premarket.

GameStop (GME) – GameStop reported an unexpected quarterly loss, even as the videogame retailer’s revenue topped estimates. GameStop CEO Matt Furlong said the omicron variant and supply chain issues had a significant impact on results during the holiday season. GameStop slid 7.6% in the premarket.

U.S. Steel (X) – U.S. Steel shares fell 3.6% in premarket trading after the company issued weaker-than-expected guidance for the current quarter. The company cited increasing raw materials costs, among other factors.

Moderna (MRNA) – Moderna is seeking FDA approval for a second booster shot of its Covid-19 vaccine for adults aged 18 and older. The submission comes a day after Pfizer (PFE) and partner BioNTech (BNTX) asked the FDA to approve a second booster for people 65 years and older. Moderna gained 1% in premarket action.

Boeing (BA) – The jet maker is in talks with Delta Air Lines (DAL) for a 737 MAX 10 jet order of up to 100 aircraft, according to people familiar with the matter who spoke to Reuters.

Joann (JOAN) – The crafts retailer’s shares tumbled 8.3% in the premarket after it missed quarterly sales expectations and noted a $60 million increase in ocean freight costs for 2021. Joann said the freight increase was among a number of significant supply chain headwinds and disruptions.

Wingstop (WING) – The restaurant chain’s stock slid 4.7% in premarket trading after a double downgrade by Piper Sandler to “underweight” from “overweight.” Piper said it will be more difficult for Wingstop to keep a premium valuation during a restaurant industry expansion cycle as higher expenses hit earnings.

Rent The Runway (RENT) – The fashion rental company’s stock rallied 4.2% in premarket action after Jefferies began coverage with a “buy” rating. The firm said Rent The Runway’s extensive offerings and high barrier to entry are among the factors that will drive top-line growth of as much as 50%.

SolarEdge Technologies (SEDG) – The solar equipment and software producer’s 2 million shares offering was priced at $295 per share, compared with Thursday’s close of $314.60. SolarEdge slid 3.4% in the premarket.

Articles You May Like

FINRA fines Morgan Stanley $1.6 million
States, construction coalition urge revamp of Buy America policies
52% of Black Americans say homeownership is a mark of success, report finds. But it can conflict with other goals
Judge expected to issue ruling in Trump business fraud trial Friday
Russian opposition activist Alexei Navalny dies in Arctic prison