Stocks making the biggest moves premarket: Campbell Soup, Pinterest, Toll Brothers and others
Check out the companies making headlines before the bell:
Campbell Soup (CPB) – Campbell Soup beat estimates by 14 cents with adjusted quarterly earnings of $1.02 per share. Revenue also beat consensus and the food producer said its results were helped by strong pricing, improved productivity and supply chain improvements. Campbell Soup rose 1.2% in the premarket.
Pinterest (PINS) – Pinterest rose 1.2% in premarket trading after an official from activist investor Elliott Management was added to the image-sharing website operator’s board of directors. Senior portfolio manager Marc Steinberg will become Pinterest’s eleventh board member, and the company agreed to renominate him for a new three-year term at next year’s annual meeting.
Toll Brothers (TOL) – Toll Brothers beat top and bottom line estimates for its latest quarter, with results helped by strong pricing for the luxury home builder. Toll Brothers added 1.2% in the premarket.
Thor Industries (THO) – The recreational vehicle maker reported a quarterly profit of $2.53 per share, well above the $1.81 consensus estimate, with revenue also topping Wall Street forecasts. Thor said its business performed “exceedingly well” during the quarter given ongoing macroeconomic headwinds.
Lowe’s (LOW) – The home improvement retailer announced a new $15 billion share repurchase program and reaffirmed its full-year forecast. The actions come ahead of the company’s annual analyst and investor conference today.
Carvana (CVNA) – Carvana creditors, including Apollo Global Management and Pimco, signed a cooperation agreement and will work together as the online used car seller goes through a debt restructuring process. Carvana tumbled 18.2% in premarket trading.
MongoDB (MDB) – MongoDB shares soared 26.6% in premarket trading after the database software company reported a surprise quarterly profit and forecast another profit for the current quarter.
Dave & Buster’s (PLAY) – Dave & Buster’s shares slid 3.9% in premarket action even though its quarterly profit matched analyst estimates. The restaurant and entertainment venue’s revenue beat consensus.
Stitch Fix (SFIX) – Stitch Fix shares fell 2.2% in the premarket after the online clothing company trimmed its full-year forecast amid a further decline in the number of active clients.
Airbnb (ABNB) – Airbnb fell 3.8% in premarket trading after Morgan Stanley downgraded the stock to underweight from equal-weight. Morgan Stanley pointed to slowing growth in listings and lower room night demand.