Check out the companies making headlines before the bell:
Campbell’s soup (CPB) — The food producer has matched estimates with adjusted quarterly earnings of 69 cents per share, and revenue is essentially in line with expectations, too. Campbell’s adjusted gross margins decreased 340 basis points due to cost inflation. She said demand trends are strong and the company maintained full-year guidance issued in December. Campbell’s stock is up 1% in pre-market trading.
pass (EXPR) — Shares of apparel and accessory stores rose 10.5% in premarket despite a larger-than-expected quarterly loss. Express saw better-than-expected sales and a 43% increase in comparable-store sales, more than double the agreed FactSet estimate.
Thor Industries (THO) — The recreational vehicle maker saw its shares rise 8.6% in premarket trading after it reported quarterly earnings of $4.79 per share, compared to the consensus estimate of $3.39. Revenue also beat expectations as the company cut discounts and expanded its profit margins.
Amazon.com (AMZN) — The House Judiciary Committee is asking the Justice Department to launch a criminal investigation into Amazon, according to people familiar with the matter who spoke to the Wall Street Journal and a letter seen by the newspaper. The letter accuses Amazon of failing to provide information regarding the examination of the company’s competitive practices. Amazon stock rose 1.5% in pre-market activity.
PepsiCo (PEP) — The beverage and snack giant has suspended the sale of its brands of soft drinks in Russia, though it will continue to sell potato chips and many daily necessities such as baby formula. The Wall Street Journal said PepsiCo is currently exploring various options for its Russian unit, including writing off the value of this business.
stitch repair (SFIX) — Stitch Fix fell 26.4% in the primary market after it issued weaker-than-expected sales guidance and said it still faced challenges in attracting customers to sign up for its design service. Stitch Fix matched estimates with a quarterly loss of 28 cents a share, while the clothing design company’s revenue beat expectations.
stutter (BMBL) — Bumble is up 22% in pre-market trading after the dating service company reported an adjusted quarterly profit of 13 cents per share, beating estimates for the break-even quarter. The company also expects strong growth in 2022.
Jeanette (GCI) — The USA Today publisher misled advertisers about where to place their website ads for 9 months, according to research obtained by The Wall Street Journal. Janet told the newspaper she had inadvertently provided incorrect information to advertisers and regretted the error. Gannett is down 2% in pre-market activity.
XPO Logistics (XPO) — The trucking and transportation company will split its brochure-to-carry services unit into a separate company, and plans to divest its European business and its North American multimodal operations. XPO rose 13.3% in the primary market.
General Electric (GE) — GE shares rose 1.6% in premarket trading after the company’s board of directors authorized a $3 billion share buyback program.
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