Business

Bed, Bath & Beyond, Nio, Honest Company and others


Check out the companies making headlines before the bell:

Cannabis Stocks – Marijuana producer stocks extend a pre-market rally on Thursday, following a report from an industry publication that the House will vote for the second time next week to legalize cannabis. cannabis at the federal level. The House passed such a bill in 2020, but the Senate did not follow suit. Tilray (TLRY) jumped 14.1% pre-market, Aurora Cannabis (ACB) jumped 10.2%, Sundial Growers (SNDL) climbed 12% and Canopy Growth (CGC) rose 9.6% .

Bed Bath & Beyond (BBBY) – Bed Bath & Beyond is close to reaching a settlement with investor Ryan Cohen, according to people familiar with the matter who spoke to Bloomberg. The deal would see three new directors appointed to the homewares and personal care retailer’s board. Cohen’s RC Ventures owns a 9.8% stake in Bed Bath & Beyond. The stock added 1.4% in premarket trading.

Nio (NIO) – Shares of Nio fell 3.6% in premarket action after the China-based electric carmaker reported better-than-expected quarterly sales but saw deliveries fall below analysts’ estimates.

Honest Company (HNST) – Honest Company posted a bigger-than-expected quarterly loss as sales of face masks and sanitizers fell significantly. It also released guidance for the current quarter which was weaker than expected. Shares fell 19.5% premarket.

Shaw Communications (SJR) – Shaw shares added 2% to premarket trading after Canadian regulators gave conditional approval to a $16 billion takeover of Shaw’s broadcasting services by the Canadian telecommunications giant Rogers Communications (RCI).

US-listed Chinese stocks – These stocks continue to be volatile amid concerns about tighter regulation by Chinese authorities and potential US delistings. Alibaba (BABA) lost 3.4% in premarket stock, with JD.com (JD) losing 4.2%, Pinduoduo (PDD) slipping 6% and Didi Global (DIDI) falling 7.1%.

Teva Pharmaceutical (TEVA) – Bernstein upgraded the generic drugmaker’s stock to “outperform” “market performance,” noting an improved balance sheet, new product launches and potential for opioid-related litigation settlements. Teva rebounded 4.2% in premarket.

Switch (SWCH) – The tech infrastructure company was downgraded to “equal weight” from “overweight” at Wells Fargo Securities, which said a takeover of Switch is possible but the price is unlikely to rise above 32 $ to $34 per share. Switch closed at $30.24 on Thursday and fell 2.2% in premarket trading.

Fortinet (FTNT) – Shares of the cybersecurity company fell 2.1% pre-market after Bank of America Securities downgraded Fortinet from “neutral” to “buy”, saying strong results are already reflected in the share price.


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William

Friendly bacon buff. Unapologetic problem solver. Avid food lover. Amateur alcoholaholic. Organizer. Student
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