Check out the firms making headlines earlier than the bell:
DraftKings (DKNG) – The sports activities betting firm’s inventory tumbled 13.2% in the premarket, regardless of a narrower-than-expected quarterly loss and income that beat estimates. DraftKings initiatives a wider-than-expected adjusted loss for the full 12 months as prices proceed to rise.
Roku (ROKU) – Roku shares have been down 26% in the premarket, regardless of better-than-expected earnings for its newest quarter. The maker of video streaming units’ income fell wanting analyst forecasts, and it issued a weaker-than-expected outlook resulting from larger part costs and provide chain disruptions.
Bloomin’ Brands (BLMN) – The restaurant operator beat estimates by 8 cents with an adjusted quarterly revenue of 60 cents per share, with income barely above consensus. The dad or mum of Outback Steakhouse and different chains additionally reinstated its quarterly dividend and introduced a brand new $125 million share buyback program. The inventory surged 6.6% in premarket motion.
Deere (DE) – The heavy tools maker reported quarterly earnings of $2.92 per share, properly above the $2.26 consensus estimate, with income additionally topping analyst forecasts. The firm additionally raised its annual revenue forecast amid strong demand and larger costs.
Shake Shack (SHAK) – Shake Shack reported an adjusted quarterly lack of 11 cents per share, narrower than the 11-cent loss analysts have been anticipating, whereas the restaurant chain’s income matched Wall Street forecasts. Shake Shack mentioned the omicron variant stored prospects away and led to some momentary restaurant closures. It additionally issued a downbeat current-quarter forecast amid growing prices. Shake Shack plunged 15.5% in premarket buying and selling.
Dropbox (DBX) – Dropbox beat estimates by 4 cents with adjusted quarterly earnings of 41 cents per share, and the software program firm’s income additionally topped Street projections. Paid person numbers and common income per person additionally got here in above consensus, however the inventory slid 6.3% in premarket motion as its steering for current-quarter revenue margin was barely decrease than anticipated.
DuPont (DD) – DuPont finalized a deal to promote the majority of its supplies unit to specialty supplies maker Celanese (CE) in an $11 billion deal. DuPont jumped 4.1% in the premarket whereas Celanese gained 3.8%.
Pilgrim’s Pride (PPC) – Pilgrim’s Pride slumped 14.8% in premarket buying and selling after Brazilian meatpacker JBS dropped plans to purchase the portion of the poultry producer that it would not already personal. JBS holds an 80% stake in Pilgrim’s Pride, however the two sides couldn’t agree on phrases of a deal for the remaining 20%.
Intel (INTC) – Intel Chief Executive Officer Pat Gelsinger advised an investor gathering that the chipmaker is aiming to attain double-digit annual income development in three to 4 years. Gelsinger additionally mentioned Intel could also be interested by collaborating in a possible consortium if one is fashioned to purchase British semiconductor firm Arm Ltd. Intel fell 1% in premarket buying and selling.
NortonLifeLock (NLOK) – NortonLifeLock pushed again the anticipated completion date of its deal to purchase rival cybersecurity firm Avast to April 4 from Feb. 24, saying it was nonetheless ready for regulatory approvals in the U.Okay. and Spain. NortonLifeLock fell 1% in the premarket.