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Hormel Foods, Campbell Soup, Ciena, etc.

Latest News – Premarket

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. Food manufacturers beat estimates in the quarter, but fell slightly short. The same is true for its full-year outlook, as Hormel expects operating costs to continue to rise.

Campbell’s Soup (CPB) – Campbell’s Soup suffered a 2.4% loss in the premarket after its quarterly profit and sales matched Wall Street forecasts. Campbell issued an upbeat forecast, saying it expects demand for soups and other foods to continue to grow.

Ciena (CIEN) – Ciena fell 11.6% in pre-market trading after the network equipment maker underperformed its latest quarterly sales and profit estimates. Ciena still sees strong customer demand, but its sales continue to be impacted by parts shortages.

Lands’ End (LE) – The apparel retailer’s stock fell 8.3% in pre-market action despite narrower-than-expected quarterly losses and above-consensus sales. Lands’ End has lowered its full-year outlook due to higher costs due to global supply chain challenges.

Signet Jewelers (SIG) – Signet surged 4% in pre-market trading after beating quarterly profit expectations despite a much lower than expected same-store sales decline. The company also confirmed its previous full-year guidance.

Okta (OKTA) – Okta plummeted 16.1% in the pre-market despite a better-than-expected quarterly performance and improved outlook. The identity management software company said it faced unexpected integration issues following its acquisition of rival Auth0 last year.

Pure Storage (PSTG) – Pure Storage rose 5.7% in premarket trading after the data storage company reported bright quarterly earnings amid mixed results from industry rivals.

Nutanix (NTNX) – Nutanix stock surged 16.3% in pre-market action as the cloud computing company outperformed analyst estimates in the latest quarter. It also increased billings and annual recurring revenue.

Five Below (FIVE) – Five Below posted a 3.2% gain in premarket despite missing out on sales and bottom line earnings in the most recent quarter. The discount retailer’s stock price surge is poised to benefit this holiday season, according to chief financial officer Kenneth Bull, from consumers’ efforts to save money in the face of high inflation. It happens after you say

MongoDB (MDB) – Shares of MongoDB fell 16.8% in pre-market trading after the cloud computing firm predicted wider-than-expected losses in the second half of the year. MongoDB posted smaller losses in the most recent quarter than analysts expected, and earnings also beat expectations.

Nvidia (NVDA) – Nvidia fell 4.3% in the premarket after warning that new US licensing requirements could bring in up to $400 million in sales. These rules impose restrictions on shipments of cutting-edge chips to China. Advanced Micro Devices (AMD) said some chips would be affected by these new requirements, and the company’s shares fell 2.6% in after-hours trading.

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