Take a look at some of the biggest pre-market engines:
Illumina (ILMN) – Illumina has released a revenue outlook for 2022 that has exceeded estimates by consensus analysts, noting strong demand for its gene sequencing treatments as well as new partnerships with four healthcare companies. Illumina jumped 4.1% in pre-release.
Rivian (RIVN) – Rivian has fallen 3.5% in pre-market trading following news of the departure of its chief operating officer, Rod Copes, from the electric truck maker.
Juniper Networks (JNPR) – Juniper shares were up 5.3% pre-market following a double upgrade by BofA Securities to “buy” from “underperform”. The company said most network providers are still rated attractively, and Juniper’s current advice from management appears cautious.
Albertsons (ACI) – The supermarket operator reported quarterly profit of 74 cents per share, 14 cents per share above estimates. Income also exceeded Wall Street forecasts. Albertsons shares jumped 3.5% in pre-market trading.
Intel (INTC) – Intel has appointed David Zinsner, CFO of Micron Technology (MU), its new CFO, effective next Monday. At the same time, the chipmaker announced the departure at the end of January of the head of the customer IT group, Gregory Bryant. Intel was up 1.7% in pre-release, while Micron was down 1%.
Accolade (ACCD) – The workplace benefits technology company jumped 10.9% in pre-market action, after better-than-expected quarterly results. Accolade gained 31 cents per share, compared to analysts’ expectations of a loss of 74 cents per share. The company also posted an improved revenue outlook for the full year.
IBM (IBM) – IBM shares fell 2.3% in pre-release after UBS downgraded it to “sell” from “neutral,” citing risks to operating results as well as this which it considers a “high valuation”.
CVS Health (CVS) – Pharmacy operator and pharmacy benefits manager raised full-year earnings outlook, now expecting earnings of $ 8.33 to $ 8.38 per share . This compares to a previous outlook of “at least” $ 8.00 per share and a current consensus estimate of $ 8.03 per share. CVS grew by 1.1% in pre-release.
Big Lots (BIG) – Big Lots said it saw a slowdown in traffic and sales trends this month, with the discount retailer citing winter weather conditions and the spread of the Covid-19 omicron variant. The shares fell 7.4% in pre-market trading.
Abercrombie & Fitch (ANF) – Abercrombie was up 5.9% in pre-release, despite a weaker quarterly sales outlook for the clothing retailer. While issuing this prospect, Abercrombie also said they saw a recovery in sales after the holidays.