Levi Strauss, WD-40, fuboTV & more
Check out some of the largest moving companies on the pre-market:
Levi Strauss (LEVI) – Levi Strauss reported quarterly earnings of 34 cents per share for the last quarter, 9 cents per share above consensus. Revenue was also ahead of Wall Street projections thanks to a 41% increase in digital sales. The apparel maker raised its sales forecast for the first half of this year and counted on a recovery in store traffic for the introduction of vaccines. The company’s share rose 5.7% in premarket trading.
WD-40 (WDFC) – WD-40 fell 8 cents per share below estimates, posting quarterly earnings of $ 1.24 per share. The lubricant manufacturer’s sales were also below the analysts’ forecasts. The company said supply chain issues hampered its ability to meet customer demand and its stocks fell 7.9% on the upstream market.
Boeing (BA) – Boeing has asked some customers to temporarily suspend 737 Max jet flights to address a potential electrical issue.
FuboTV (FUBO) – FuboTV has won the streaming rights for the qualifying games for the 2022 World Cup in Qatar, in which the 10 teams of the South American Football Association participated. The terms of the contract were not disclosed. The share rose 6.2% in the pre-market.
Bridgetown Holdings (BTWN) – SPAC, backed by billionaire investors Peter Thiel and Richard Li, is in advanced talks to bring Indonesia-based travel services company Traveloka public, according to people familiar with the matter who spoke to Bloomberg. Bridgetown shares rose 3.5% in premarket trading.
Honeywell (HON) – Honeywell stock gained 1.3% prior to going public after Deutsche Bank upgraded the stock from “Hold” to “Buy”. It identified an underperformance in 2021 and Honeywell’s favorable exposure to the current economic cycle. JPMorgan Chase also named Honeywell a “top pick” for similar reasons.
Okta (OKTA) – The Okta share gained 2.5% in premarket trading after gaining 7.2% on Thursday. This was followed by a meeting with analysts at which the identity management software maker reiterated its forecast for the year and unveiled two new products that could expand its addressable market.
Amazon.com (AMZN) – Amazon employees at an Alabama warehouse appear to be on the way to oppose union formation. Around half of the 3,200 ballot papers counted. So far, the record shows that workers are voting more than 2-1 against a union, although Reuters reports that around 500 ballots have already been challenged.
Southwest Airlines (LUV) – Southwest is calling more than 2,700 flight attendants back from absenteeism in anticipation of a recovery in summer travel demand. This follows the airline’s recall of more than 200 pilots last week.
PriceSmart (PSMT) – PriceSmart posted higher quarterly earnings and revenue year over year, although the discounter’s results were below the estimates of the few analysts who cover the company. PriceSmart said the pandemic continues to weigh on their business in certain markets.
Sogou (SOGO) – Chinese regulators will approve the purchase of the country’s third largest search engine by tech giant Tencent Holdings, according to people aware of the matter who spoke to Reuters. Tencent plans to pay $ 3.5 billion for the 60% of Sogou it doesn’t yet own. The Sogou share gained 6.2% prior to the IPO.
Chipotle Mexican Grill (CMG) – The restaurant chain’s inventory remains vigilant, having increased for the past six consecutive sessions. The stock rose 1.6% yesterday after Wedbush analyst Nick Setyan re-affirmed an “outperform” rating on data suggesting sales growth for the same restaurant is near the high end of the company’s forecast. Chipotle stocks have nearly doubled in the past 12 months.
AT&T (T) – AT&T announced that it would report $ 2.8 billion in non-cash income related to its retirement plan in the first quarter as distributions cross a threshold that requires a revaluation of its pension obligations would have made it necessary.