Conagra, Tilray, Levi, Twitter and more
Check out the companies making headlines before the bell:
Conagra Brands (CAG) — The company behind food brands like Healthy Choice, Hunt’s and Hebrew National posted an adjusted 50 cents per share last quarter, above estimates of 1 percent, while revenue also came in ahead of Wall Street expectations. Conagra also said it expects to meet its full-year targets despite inflationary pressures.
Tilray (TLRY) — The Canadian cannabis producer matched Street’s forecast of a quarterly loss of 8 cents per share, while revenue was below consensus. Revenue jumped 43% from a year earlier, with the company noting that cannabis retail stores in Canada began reopening in mid-June.
Levi Strauss (Levi) — Levi Strauss beat estimates by 11 cents with adjusted quarterly earnings of 48 cents per share, and the garment maker’s revenue beat Street expectations. The company has benefited from the easing of pandemic restrictions that have prompted people to replenish their wardrobes. The stock jumped 3.9% in the primary market.
Helen of Troy (HELE) — The homeware and health care products company earned an adjusted $2.65 per share last quarter, compared to a consensus estimate of $2.17 per share. Revenue was also higher than analyst expectations. The company said it was able to weather the “significant impact of widespread inflation” that affected nearly all input costs.
Twitter (TWTR) — Twitter is up 2.4% in premarket trading after announcing the sale of its mobile ad unit MoPub to app development tool maker AppLovin for $1.05 billion in cash. Twitter bought MoPub in 2013 for $350 million.
Meredith Corp. (MDP) – Meredith has agreed to be bought by Dotdash – the digital media arm of IAC / Interactivecorp (IAC) – for about $2.7 billion in cash, or $42.18 per share. The combined company will be called Dotdash Meredith and will include titles from popular Meredith magazines such as People and Better Homes & Gardens. Meredith had agreed earlier this year to sell her TV stations to Gray TV for $2.83 billion. Meredith gained 6.4% in the premarket market.
costco (COST) — The warehouse retailer added 1.3% in pre-market activity after it reported a similar increase in sales in September of 14.3%, just above the previous month’s increase of 14.2%.
Aspen technology (AZPN) – Emerson Electric (EMR) is in talks to integrate its software business with the industrial software company, according to people familiar with the matter who spoke to Bloomberg. Aspen stock jumped 13.1% on the Primarket market.
American Healthcare Trust (HTA) — Shares of Healthcare Trust jumped 3.4% in pre-market trading after Bloomberg reported that activist investor Elliott Management is pushing for a strategic review that could lead to a REIT sale.
Citrix Systems (CTXS) — Citrix CEO David Henshall is stepping down as the cloud computing company appoints Chairman Bob Calderoni as interim CEO. Citrix shares fell 2.3 percent in Premarket.
Rocket Labs USA (RKLB) — Rocket Labs is up 9% in the primary market after the company won a NASA contract to launch an experimental solar sail into space.