Stocks making the biggest moves premarket: Campbell Soup, Moderna, Western Digital and others
Check out the companies making headlines before the bell:
Campbell Soup (CPB) – The food producer's shares rallied 3.7% in the premarket after Campbell reported an adjusted quarterly profit of 70 cents per share, 9 cents above estimates. Sales also beat forecasts, and the company raised its full-year sales outlook. Campbell also maintained its prior earnings forecast, noting it now expects core inflation to run hotter than its previous outlook.
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Thor Industries (THO) – The recreational vehicle maker's stock surged 6.9% in premarket trading following better-than-expected quarterly results. Thor earned $6.32 per share, well above the $4.77 consensus estimate, amid strong demand for its products. Thor also said it is seeing signs of improved supply chain issues.
Moderna (MRNA) – Moderna added 1.6% in the premarket after a modified version of its Covid-19 booster shot prompted a stronger immune response than the company's original vaccine against the omicron variant. Data will be submitted to U.S. regulators in the coming weeks.
Western Digital (WDC) – Western Digital said it is reviewing strategic alternatives, including a possible split of its flash memory and disk drive businesses. Activist investor Elliott Management, which owns 6% of Western Digital, has been pushing for those changes. Shares jumped 3.8% in premarket action.
Roku (ROKU) – Shares of the video streaming device maker rallied 8.1% in the premarket after a Business Insider article highlighted talk inside Roku about possibly being acquired by Netflix (NFLX).
Hasbro (HAS) – Hasbro will be successful in pushing back a board challenge from activist investor Alta Fox, according to people familiar with the matter who spoke to Reuters. Alta Fox has been critical of various aspects of the toymaker's strategy and wants Hasbro to spin off its Wizards of the Coast unit.
Credit Suisse (CS) – Credit Suisse warned of a likely second-quarter loss, due to the negative impacts of the Russia/Ukraine war, monetary tightening and other financial market conditions. The bank did not specify how large such a loss may be. Credit Suisse slumped 6.1% in the premarket.
Novavax (NVAX) – Novavax soared 15.7% in premarket trading after it won an endorsement of its Covid-19 vaccine from an FDA advisory panel. The full FDA will now consider whether or not to approve the vaccine.
DocuSign (DOCU) – DocuSign shares rallied 4.6% in premarket action after the electronic signature technology company announced an expanded global partnership with Microsoft (MSFT). The deal enhances the integration of DocuSign technology into Microsoft software applications.