Before the bell rings, know about the companies that make headlines:
winnebago (WGO) — The recreational automaker saw its stock jump 3.4% after beating top- and bottom-line estimates for its latest quarter. Winnebago earned an adjusted $4.13 per share compared to the consensus estimate of $2.96, helped by higher prices and a jump in its gross profit margin.
La Z-boy (LZB) — La-Z-Boy soared 8.2% in premarket trading after posting better-than-expected quarterly results that included record sales for the furniture maker. The company also said that it is focusing efforts on reducing its backlog and reducing lead times.
Revlon (REV) — Shares of Revlon rose 32% in premarket trading after a rally started last week after the cosmetic maker filed for Chapter 11 bankruptcy protection. Revlon rose 91% on Friday and jumped another 62% yesterday.
Korn Ferry (KFY) — The consulting firm reported adjusted quarterly profit of $1.75 per share, trailing consensus estimates by 20 cents, with revenue also topping Wall Street’s forecasts. The results were fueled by a 30% jump in fee revenue compared to a year ago. Korn Ferry also announced a 25% dividend increase, and its stock gained 3.1% in premarket trading.
airbnb (ABNB) — Airbnb premarket fell 2.4% after JMP Securities downgraded “market outperform” to “market performance,” adding that the post-pandemic jump in travel demand is already reflected in Airbnb’s valuation it occurs.
Dow Inc. (DOW) — Shares of the chemical maker fell 4.2% in premarket action after Credit Suisse downgraded the stock from “neutral” to “underperform.” Credit Suisse said several epidemiological factors fueling the Dow and its peers may be in the process of reversal.
Pultegroup (PHM) – Pultegroup slipped 3.2% in premarket trading after RBC Capital Markets downgraded home builder’s stock from “outperform” to “sector performance.” RBC also cut earnings projections on the expectation that the housing market will fall further as mortgage rates continue to rise.
Equity Residential (EQR) – Equity Residential was upgraded from “Sector Performance” to “Outperform” at RBC Capital Markets. RBC feels that residential property REITs will benefit from the focus on affluent renters.
new relic (NEWR) — Stock of the data analysis platform company jumped 3.4% in the premarket after Jana Partners disclosed a 5.4% stake. In an SEC filing, Jana said she believes the stock is undervalued and represents an attractive investment opportunity.