Check out the companies making headlines before the bell:
Hormel Foods ( HRL ) – Hormel fell 4.2% in the premarket after issuing a mixed batch of quarterly results and guidance. The food manufacturer̵[ads1]7;s quarterly revenue beat forecasts, but earnings were slightly low. The same also applied to the full-year outlook, as Hormel expects higher operating costs to persist.
Campbell Soup ( CPB ) – Campbell Soup lost 2.4% in the premarket after its quarterly earnings and sales matched Wall Street estimates. Campbell issued an optimistic forecast, saying it expects continued increased demand for the soup and other food products.
Ciena ( CIEN ) – Ciena fell 11.6% in premarket trading after the networking equipment maker missed top and bottom line estimates for its latest quarter. Ciena continues to experience strong customer demand, but sales continue to be affected by component shortages.
Lands’ End ( LE ) – The apparel retailer’s shares fell 8.3% in premarket action despite a smaller-than-expected quarterly loss and sales that beat consensus. Lands’ End cuts full-year outlook as global supply chain challenges raise costs.
Signet Jewelers ( SIG ) — Signet jumped 4% in premarket trading after its quarterly profit estimates, even amid a bigger-than-expected drop in same-store sales. The company also confirmed its previous guidance for the full year.
Okta (OKTA) – Okta skidded 16.1% in the premarket despite better-than-expected quarterly results and a better outlook. The identity management software company said it is encountering unexpected integration issues after its acquisition of rival Auth0 last year.
Pure Storage ( PSTG ) – Pure Storage rose 5.7% in premarket trading after the data storage company reported positive quarterly results amid mixed results from its industry rivals.
Nutanix (NTNX) – Nutanix shares rose 16.3% in premarket action as the cloud computing company beat analysts’ forecasts for its latest quarter. The company also saw an increase in billings and annual recurring revenue.
Five Below (FIVE) – Five Below rose 3.2% in the premarket despite top- and bottom-line misses for the most recent quarter. The jump in the discount retailer’s shares comes after chief financial officer Kenneth Bull said Five Below is poised to benefit this coming holiday season from consumers’ efforts to save money in the face of high inflation.
MongoDB ( MDB ) – MongoDB shares fell 16.8% in premarket trading after the cloud computing company forecast a bigger-than-expected second-half loss. MongoDB reported a smaller loss in its latest quarter than analysts expected, and revenue also beat forecasts.
Nvidia (NVDA) – Nvidia fell 4.3% in premarket trading after the graphics chip maker warned it expects a sales hit of as much as $400 million from new US licensing requirements. These rules will impose restrictions on shipments of the most advanced chips to China. Advanced Micro Devices ( AMD ) said some of its chips would be affected by the new requirements, and the stock fell 2.6% in after-hours trading.