Campbell Soup, Express, Thor Industries, and other stocks are experiencing significant premarket movements.
Check out the companies making headlines before the bell:
Campbell's adjusted gross margins decreased by 340 basis points due to cost inflation, but the company's revenue was in line with forecasts. Despite this, Campbell maintained its full-year guidance issued in December, and demand trends are strong. The company's stock price rose 1% in premarket trading.
Despite a wider-than-expected quarterly loss, Express's apparel and accessories retailer's shares rallied 10.5% in the premarket. The company saw better-than-expected sales and a comparable-store sales increase of 43%, more than double the consensus FactSet estimate.
The recreational vehicle manufacturer experienced a 8.6% increase in premarket share prices following the release of its quarterly earnings of $4.79 per share, exceeding the $3.39 consensus estimate. Additionally, revenue surpassed expectations as the company reduced discounts and enhanced profit margins.
According to sources, the House Judiciary Committee has requested the Justice Department to launch a criminal investigation into Amazon due to the company's alleged failure to provide information regarding its competitive practices. Despite this, Amazon's stock price increased by 1.5% in premarket trading.
PepsiCo has halted the sale of its soda brands in Russia but will continue to sell potato chips and other essentials. The Wall Street Journal reports that the company is considering various options for its Russian unit, including writing off the value of that business.
Stitch Fix's revenue topped forecasts, but the company's sales guidance was weaker than expected, and it continues to struggle with getting customers to sign up for its styling service.
Bumble's premarket trading increased by 22% after the dating service operator reported an adjusted quarterly profit of 13 cents per share, surpassing expectations of a breakeven quarter. Additionally, the company anticipates robust growth in 2022.
The Wall Street Journal reported that the publisher of USA Today, Gannett, misled advertisers about the placement of their website ads for 9 months. Gannett admitted to providing incorrect information to advertisers and expressed regret for the error. As a result, Gannett's stock price fell by 2% in premarket action.
XPO's brokered transportation services unit will become a separate company, while the company plans to sell its European and North American intermodal operations. XPO's stock price increased by 13.3% before trading began.
After the board of directors approved a $3 billion share repurchase program, GE shares increased by 1.6% in premarket trading.
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