Check out the companies making headlines before the bell:
Winnebago (WGO) — The recreational vehicle maker saw its shares rise 3.4% after beating top estimates and the bottom line for last quarter. Winnebago earned $4.13 per share, compared to a consensus estimate of $2.96, buoyed by higher prices and a jump in its gross margins.
no costume boy (LZB) — La-Z-Boy rose 8.2% in premarket trading after reporting better-than-expected quarterly results that included record sales for the furniture maker. The company also said it was focusing its efforts on reducing backlogs and shortening lead times.
Revlon (REV) — Shares of Revlon are up 32% in pre-market trading, extending a rally that began after the cosmetics company filed for Chapter 11 bankruptcy protection last week. Revlon rose 91% Friday and jumped another 62% yesterday.
Corn Ferry (KFY) — The consulting firm reported adjusted quarterly earnings of $1.75 per share, beating forecasts by 20 cents, with revenue also beating Wall Street expectations. The results were boosted by a 30% jump in fee income over the previous year. Korn Ferry also announced a 25% dividend increase, and its stock rose 3.1% in premarket trading.
Airbnb (ABNB) — Airbnb fell 2.4% in the primary market after JMP Securities downgraded its rating to “market performer” from “outperforming market,” saying the post-pandemic jump in travel demand was already reflected in Airbnb’s valuation.
Dow company (Dow) — Shares of the chemical maker fell 4.2% in premarket trading after Credit Suisse cut the stock to “underperformer” from “neutral.” Credit Suisse said many of the pandemic-related factors that have boosted Dow and its peers could be on the way to reversing.
Boltgroup (PHM) — PulteGroup fell 3.2% in pre-market trading after RBC Capital Markets downgraded the home builder’s stock to “segment performer” from “outstanding.” RBC also cut its earnings estimates on the back of its prediction that the housing market will deteriorate further as mortgage rates continue to rise.
Residential property (EQR) – Equity Residential upgraded to ‘Outstanding’ from ‘Segment Performance’ at RBC Capital Markets. RBC feels that a residential REIT will benefit from its focus on affluent tenants.
fresh leftovers (NEWR) — The data analytics platform company’s stock jumped 3.4% in the primary market after Jana Partners disclosed a 5.4% stake. In a request from the Securities and Exchange Commission, Jana said that she believes the stock is undervalued and represents an attractive investment opportunity.
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