Check out the companies making headlines before the bell:
Conagra ( CAG ) — The food maker’s stock rose 2% in premarket after it reported better-than-expected quarterly profit and sales. Conagra also reaffirmed its full-year guidance.
Peloton (PTON) – Peloton fell 4.1% in premarket trading after announcing it would cut another 500 jobs, or about 12% of its remaining workforce after several previous rounds of job cuts. work places. CEO Barry McCarthy told the Wall Street Journal that he will give the fitness equipment maker six months or so to turn it around, and if it can’t, Peloton likely won’t be a viable company autonomous
McCormick (MKC) – The spice maker reported adjusted quarterly earnings of 69 cents per share, 7 cents below estimates, with revenue essentially in line with forecasts. McCormick said it is now recouping costs through price actions after a period when its expenses outstripped product price increases. McCormick fell 1.1% in premarket.
Compass (COMP) – Shares of Compass rose 11.4% in pre-market trading, following an Insider report that Vista Equity Partners is exploring a deal to take the real estate company private.
Eli Lilly ( LLY ) — Lilly’s shares added 1% in premarket after its diabetes drug tirzepatide received “Fast Track” designation from the FDA for possible use to treat obese or overweight adults with weight-related comorbidities.
Twitter (TWTR) – Twitter remains under surveillance today amid multiple reports about Elon Musk and the social media company’s effort to finalize a deal on its $44 billion acquisition deal. The Wall Street Journal reported that the two sides held unsuccessful talks about a possible price cut for the deal, and Reuters reports that private equity firms Apollo Global and Sixth Street Partners are no longer in talks with Musk to provide financing. Twitter fell 1.8% in premarket action.
Take-Two Interactive (TTWO): Take-Two Interactive was upgraded to “buy” from “neutral” at Goldman Sachs, which cited improving fundamentals in the video game industry. Goldman raised its price target for the video game maker’s stock to $165 per share from $131 previously. Take-Two gained 3% in premarket trading.
Splunk (SPLK): Splunk was downgraded to “neutral” from “buy” at UBS, which said the data platform provider faces a number of additional headwinds apart from the overall macroeconomic outlook. Splunk fell 3.1% in premarket.
Shell ( SHEL ): Shell fell 5.4% in premarket trading after it said third-quarter earnings will be hit by significantly lower profits from gas trading. The power producer also cites higher costs to deliver fuel.
Pinterest ( PINS ): Pinterest rose 5.2% in premarket after shares of the image-sharing site were upgraded to “buy” from “neutral” at Goldman Sachs. Goldman expressed confidence in Pinterest’s ability to further monetize its operations and capture more ad dollars.
