Stocks making the biggest moves premarket: Hormel Foods, Campbell Soup, Ciena and others
In this article
Check out the companies making headlines before the bell:
Hormel Foods (HRL) – Hormel fell 4.2% in the premarket after issuing a mixed batch of quarterly results and guidance. The food producer's quarterly revenue beat forecasts, but earnings were slightly short. The same was also true for its full-year outlook as Hormel expects higher operational costs to persist.
Campbell Soup (CPB) – Campbell Soup lost 2.4% in the premarket after its quarterly profit and sales matched Wall Street estimates. Campbell issued an upbeat forecast, saying it expects continued elevated demand for its soup and other food products.
Ciena (CIEN) – Ciena tumbled 11.6% in premarket trading after the networking equipment maker missed estimates on the top and bottom lines for its latest quarter. Ciena is still seeing strong customer demand but its sales continue to be impacted by component shortages.
Lands' End (LE) – The apparel retailer's stock slid 8.3% in premarket action in spite of a narrower-than-expected quarterly loss and sales that beat consensus. Lands' End cut its full-year outlook as global supply chain challenges elevate expenses.
Signet Jewelers (SIG) – Signet jumped 4% in premarket trading after its quarterly profit beat estimates, even amid a bigger-than-expected drop in same-store sales. The company also affirmed its prior full-year guidance.
Okta (OKTA) – Okta skidded 16.1% in the premarket despite better-than-expected quarterly results and an improved outlook. The identity management software company said it was running into unexpected integration issues following its acquisition of rival Auth0 last year.
Pure Storage (PSTG) – Pure Storage rallied 5.7% in premarket trading after the data storage company reported
Read more on cnbc.com
