Check out the companies making headlines before the bell:
DocuSign (DOCU) – Shares of the electronic signature technology company plunged 26.1% in pre-market after its quarterly earnings and revenue fell short of Wall Street forecasts. DocuSign previously warned that a return to post-Covid working conditions could hurt its business.
Vail Resorts (MTN) – Vail Resorts rose 6.7% in premarket trading after the resort operator reported better-than-expected quarterly results. Vail benefited from an easing of Covid-related restrictions and noted successful efforts to attract visitors outside of its peak ski season.
Stitch Fix (SFIX) – Shares of Stitch Fix fell 15.4% in premarket action after the online clothing designer posted a bigger-than-expected quarterly loss and gave a lower-than-expected revenue forecast. intended. Stitch Fix also said it would cut 330 jobs, or about 4% of its total workforce.
Rent The Runway (RENT) – The fashion rental company posted a weaker-than-expected quarterly loss as its revenue beat Wall Street forecasts. Sales doubled from the previous year and Rent The Runway also released an optimistic revenue forecast for the current quarter. Shares jumped 8.2% premarket.
Illumina (ILMN) – The gene therapy maker saw its shares fall 4.2% in the pre-market after announcing the departure of chief financial officer Sam Samad, who is taking on the role of chief financial officer at Quest Diagnostics (DGX).
Netflix (NFLX) – Netflix slid 4.7% in premarket trading after Goldman Sachs downgraded the stock to “sell” from “neutral” and cut the price target to $186 per share from $265 . Goldman said it is focused on a number of factors, including an increased focus on profitability and a lower investor tolerance for long-term investments as Netflix and other web-based businesses mature. . In the same report, Goldman also cut the “sale” of “neutral” video game company Roblox (RBLX), down 4.7% in the pre-market, and eBay (EBAY), down 3. .6%.
Angi (ANGI) – The home services company reported a 24% increase in revenue in May, compared to a year earlier, even as service requests fell 7%. In addition, the company announced the departure of Chief Financial Officer Jeff Pederson.
CME Group (CME) – The stock trader’s stock gained 2.3% pre-market after Atlantic Equities took it from “overweight” to “neutral”. The company said CME has the strongest fundamental backdrop among U.S. exchanges and a recent decline in the stock provides an attractive entry point.
Kontoor Brands (KTB) – Goldman Sachs downgraded the stock from “buy” to “neutral”, noting that mounting cost pressures weighed on results and earnings growth at the parent company of clothing brands Lee and Wrangler. Kontoor Brands fell 1% pre-market.
DocuSign, Vail Resorts, Stitch Fix and others
Source link DocuSign, Vail Resorts, Stitch Fix and others