Canada Goose, Wendy’s, Perrigo, Southwest and others
Check out the companies that make the headlines before the doorbell rings:
Canada Goose (GOOS) – Canada Goose lost 45 cents per share (Canadian) in the first quarter of fiscal year, less than analysts’ forecast loss of 53 cents, while the apparel maker also posted better-than-expected sales. However, the loss has widened year over year thanks to increased spending, and the stock lost 2.1% in pre-trading hours.
Wendy’s (WEN) – Wendy’s rebounded 3.3% premarket after beating top and bottom line estimates for the second quarter. The restaurant chain made an adjusted 27 cents a share, 9 cents above estimates, with sales in the same store beating projections as more people returned to personal dining.
Perrigo (PRGO) – Healthcare products maker shares fell 8.8% pre-launch after Perrigo missed sales and profits in the most recent quarter. With an adjusted 50 cents per share, the result was 11 cents below the estimates, which was affected, among other things, by a weaker cold and cough season.
Southwest Airlines (LUV) – The airline said it had seen a surge in cancellations this month due to mounting concerns about the Covid-19 Delta variant, making it difficult to be profitable for the current quarter. Southwest fell 1.9% in the premarket.
Coinbase (COIN) – Coinbase reported adjusted quarterly earnings of $ 3.45 per share, beating the consensus estimate of $ 2.33 in its first report as a publicly traded company. The cryptocurrency exchange operator also posted better-than-expected revenue of $ 2 billion, up from $ 178 million last year. Trading volume for the June quarter was up 21% from the previous three months, and stocks were up 2.3% in pre-trading.
WW International (WW) – WW slumped 22.3% in pre-trading hours after quarterly earnings and sales fell short of analyst forecasts. The company formerly known as Weight Watchers made an adjusted 48 cents per share for the quarter, 17 cents below estimates, with membership numbers below WW’s own projections. CEO Mindy Grossman said the company has a comprehensive performance optimization plan in the second half of the year.
FuboTV (FUBO) – FuboTV lost 68 cents per share in the last quarter, more than the loss of 51 cents expected by analysts. However, the sports-focused streaming service reported better-than-expected revenue and made a positive forecast, including a projected doubling in revenue for the full year. The FuboTV share rose 13.4% in the run-up to the market launch.
Norton LifeLock (NLOK) – Norton LifeLock is to acquire rival cybersecurity company Avast for up to $ 8.6 billion in cash and stock. The transaction will expand Norton LifeLock’s portfolio of cybersecurity software offerings for consumers. Before the IPO, the shares rose by 4.6%.
Poshmark (POSH) – Poshmark reported a quarterly loss of 4 cents per share, 2 cents less than Wall Street forecast, while the online second-hand merchant posted top sales estimates. Poshmark, however, forecast sales for the current quarter below analysts’ forecasts, saying there would be a blow from Apple’s new privacy controls. Poshmark fell 8.2% in pre-trading.
ThredUp (TDUP) – ThredUp lost 15 cents per share last quarter, a cent less than expected, while the online used fashion retailer reported better-than-expected sales and an optimistic forecast. The positive results helped the stock rally by 7.3% before the trading session.
Alight (ALIT) – Financial services firm Voya Financial (VOYA) is considering a possible takeover of the new public pension manager, according to knowledgeable people who spoke with Bloomberg. It is not clear if active talks are underway and there is no guarantee that an agreement will be reached. In pre-trading, Alight climbed 2.6%.