AMC, BlackBerry, Express, FireEye and more
Take a look at some of the biggest drivers in the premarket:
AMC Entertainment (AMC) – AMC filed to sell up to 11.55 million common shares “from time to time,” according to a Securities and Exchange Commission file, but cautioned against investing in the stock due to recent moves “unrelated to our underlying business.” AMC had initially jumped into the pre-market after nearly doubling on Wednesday, but fell 9.7% after filing.
Blackberry (BB), Koss (KOSS), GameStop (GME), Bed bath and beyond (BBBY) – These stocks remain under watch today, after rising yesterday due to investor enthusiasm for so-called “meme” stocks. BlackBerry jumped 11.2% in pre-release, but Koss fell 10.1%, GameStop lost 2.3% and Bed Bath & Beyond fell 12.9% after climbing 62% on Wednesday.
Express (EXPR) – The clothing retailer reported a quarterly loss of 55 cents per share, lower than the 58 cents per share expected by analysts. Revenue exceeded Street’s forecast and Express said it expects comparable sales to improve sequentially throughout this year. Its shares fell 7.1% in pre-market after a first jump to the upside.
Meredith Corp. (CDM) – Meredith accepted a revised offer of Gray television (GTN) for its local media group. Meredith shareholders will now receive $ 16.99 per share in cash, up from $ 14.51 per share previously, plus one share in the new post-closing version of Meredith.
Ciena (CIEN) – The networking equipment and services company reported quarterly profit of 62 cents per share, 14 cents per share above estimates. Revenue also exceeded analysts’ forecasts. Ciena said he was helped by an improving market environment and a rebound in customer spending. Ciena gained 1.1% in pre-market trading.
Jm smucker (SJM) – The food producer broke estimates by 22 cents per share, with quarterly profit of $ 1.89 per share. Turnover is slightly higher than forecast. However, sales fell from a year earlier, when homebound consumers stocked up as the pandemic set in. Smucker has released bullish earnings forecasts for the full year.
PVH (PVH) – PVH earned $ 1.92 per share for its most recent quarter, more than double the consensus estimate of 83 cents per share. The company behind clothing brands like Tommy Hilfiger and Calvin Klein also saw its revenue exceed estimates and also upped its forecast for the full year.
Exxon Mobil (XOM) – Exxon said in an SEC filing that the No.1 hedge fund engine had won a third seat on the board of directors of the energy giant. Engine No. 1 – a small investor in Exxon – scored a surprise victory with a campaign focused on environmental concerns.
FireEye (FEYE) – FireEye announced the sale from its security software products unit – with the name FireEye – to private equity firm Symphony Technology for $ 1.2 billion. The company that remains will be called Mandiant Solutions, the same name used by CEO Kevin Mandia’s company prior to its sale to FireEye in 2014. FireEye shares fell 7.5% in pre-release.
Emerging BioSolutions (EBS) – The Food and Drug Administration works with Johnson & johnson (JNJ) and AstraZeneca (AZN) to ensure that doses of the Covid-19 vaccine produced at an Emergent plant in Baltimore are not contaminated and are safe to use. This occurs after the plant accidentally contaminates doses of J&J vaccine with the active ingredient in AstraZeneca treatment.
Splunk (SPLK) – Splunk reported a larger-than-expected loss for the first quarter, although the network analytics software maker saw revenue exceed Wall Street expectations. Splunk has upgraded its customers to cloud versions of its software, and recurring cloud revenue jumped 83% in the quarter compared to a year ago. Splunk lost 5.1% in pre-market trading.
Tilray (TLRY) – Shares of the cannabis producer rose 3.6% in pre-market trading after Cantor Fitzgerald rolled out new estimates after Tilray’s merger with Aphria was finalized and called the stock “overweight” . Cantor cites the size of the combined company as well as the optimistic outlook abroad.