Check out the businesses making headlines earlier than the bell:
Delta Air Lines (DAL) – Delta rose 2.3% within the premarket after projecting a $200 million fourth-quarter revenue. Consensus forecasts have been predicting a quarterly loss for Delta, however the provider mentioned it’s seeing sturdy vacation demand and it’s on the trail towards exceeding pre-pandemic revenue ranges.
Accenture (ACN) – The consulting agency’s shares surged 6.7% within the premarket after it reported better-than-expected revenue and income for its newest quarter, and raised its earnings steerage for fiscal 2022. Revenue rose by greater than 20% throughout the 4 largest business teams in Accenture’s buyer base.
Regeneron Pharmaceuticals (REGN) – The drugmaker’s shares declined 1% in premarket buying and selling after it mentioned its antibody cocktail loses efficiency in opposition to the omicron Covid-19 variant. Regeneron did say that the cocktail is efficient in opposition to the delta variant.
Lennar (LEN) – Lennar reported quarterly earnings of $3.91 per share, beneath the $4.15 consensus estimate, and the homebuilder’s income additionally fell in need of forecasts. Lennar was damage by larger lumber prices in addition to elevated labor prices and shortages of uncooked supplies, leading to delayed residence deliveries. Lennar tumbled 6.3% in premarket motion.
Novartis (NVS) – Novartis launched a brand new share buyback program price as much as $15 billion, with the drug maker planning to finish these repurchases by the top of 2023. Shares jumped 4% in premarket buying and selling.
Visa (V) – Visa rose 1.1% within the premarket after saying that it added $12 billion to its share buyback program, bringing the full quantity of its repurchase authority to $13.2 billion.
J.M. Smucker (SJM) – Smucker struck a deal to promote its pure beverage and grains companies to personal fairness agency Nexus Capital Management for $110 million, with the meals producer saying it needed to focus extra sources on its core manufacturers.
Intuitive Surgical (ISRG) – Intuitive Surgical was added to the “conviction purchase” listing at Goldman Sachs, which factors to the corporate’s pending launch of a brand new surgical system. Shares added 1.2% within the premarket.
AT&T (T) – Morgan Stanley upgraded AT&T to “obese” from “equal-weight,” saying a current slide by the inventory creates a lovely risk-reward profile. The agency mentioned there are a number of different key components driving the improve, together with the pending completion of the WarnerMedia/Discovery merger. AT&T gained 1.5% in premarket buying and selling.
Petco Health (WOOF) – The pet merchandise vendor’s inventory added 1.9% within the premarket after Needham started protection with a “purchase” score. The agency feels Petco ought to outperform opponents within the pet class, given its presence in a number of channels together with veterinary hospitals.
Shopify (SHOP) – The e-commerce platform operator rallied 2.9% in premarket buying and selling after Evercore upgraded it to “outperform” from “in line.” Evercore famous that the inventory is about 20% beneath its 12 months highs and that the corporate represents a high-quality asset by way of progress alternatives.