Adobe (ADBE) – Adobe reported quarterly profit of $ 3.03 per share, 21 cents per share above estimates. The software company’s revenue also exceeded Wall Street forecasts, and Adobe gave a stronger-than-expected current quarter forecast. Its shares rose 3.1% in pre-market trading.
Smith & Wesson (SWBI) – Smith & Wesson posted better-than-expected earnings and sales for its most recent quarter, as the arms maker’s sales jumped 67% from the same quarter a year earlier. The company notes that its shipments have jumped 70% compared to an overall industry growth of 42%. Shares were up 4.7% pre-market.
Orphazyme (ORPH) – Orphazyme plunged 52.6% in pre-market after the Food and Drug Administration rejected its experimental treatment for a genetic condition known as Niemann-Pick disease type C. The company Denmark-based biotech company had seen its shares volatile in recent times. days after gaining social media attention, falling 10.2% on Thursday after rising more than 61% on Wednesday.
Delta Air Lines (DAL) – Stock rose 1.1% in pre-market following a double upgrade at Wolfe Research to “outperform” versus “underperform”. Wolfe said he sees business travel benefit from pent-up demand later this summer, although he doesn’t think he will return to pre-Covid levels.
Manchester United (MANU) – Manchester United have lost $ 30.2 million in the first three months of this year, largely due to the lack of fans at their games due to the coronavirus pandemic. All of the team’s 2020-21 season matches were played without spectators.
ArcelorMittal (MT) – ArcelorMittal has sold its remaining 38.2 million shares of steel producer Cleveland-Cliffs (CLF). The mining company will use the proceeds to fund a $ 750 million share buyback. Arcelor-Mittal rose 1% in pre-release, while Cleveland-Cliffs added 0.3%.
Carnival (CCL) – The cruise line disclosed a data breach in March that may have exposed the personal information of customers of its Carnival, Holland America and Princess brands. He did not disclose how many of them could have been affected.
Fox Corp. (FOXA) – Fox increased its share buyback program by $ 2 billion to a total of $ 4 billion, which helped push its shares up 2.8% in pre-market.
Pilgrim’s Pride (PPC) – Pilgrim’s Pride expanded its prepared foods and branded products business by acquiring the Meat & Meals business of the Kerry Group. The poultry producer will pay the Ireland-based company around $ 947 million for the unit.
Hasbro (HAS), Mattel (MAT) – Toy makers are under scrutiny following a New York Post report warning of a potential toy shortage for the upcoming holiday season. The newspaper said thousands of toys ready to be shipped remain in storage in China due to a lack of shipping containers available for export.
Biogen (BIIB) – Drugmaker’s stock was raised from ‘overweight’ to ‘neutral’ at Piper Sandler, who cites a number of factors including the likelihood of doctors prescribing Biogen’s drug Aduhelm for the disease of Alzheimer’s, recently approved. Biogen shares increased 1.7% pre-market.
Citigroup (C) – The bank’s stock remains on watch after declining for the last 11 consecutive trading days, losing 14% during that time.