Check out the companies making headlines before the bell:
BioNTech (BNTX) – Shares of the drugmaker are up 5.9% premarket after reporting significantly better-than-expected fourth-quarter revenue and earnings. BioNTech also reiterated its earlier vaccine sales guidance for 2022.
Five Below (FIVE) – The discounter’s stock slipped 3.4% in premarket trading following a mixed earnings report. Five Below beat estimates by a penny with quarterly earnings of $2.49 per share, but both revenue and comparable sales came in below analysts’ forecasts.
RH (RH) – RH fell 2.8% in premarket trading after the high-end furniture retailer reported lower-than-expected sales for its latest quarter, despite earnings slightly beating Wall Street forecasts. RH also announced a 3-for-1 stock split.
Lululemon (LULU) – Lululemon rose 7.4% in premarket action despite a quarterly revenue slump. The sportswear company reported adjusted quarterly earnings of $3.37 per share, 9 cents above estimates, and issued an upbeat guidance for 2022. Lululemon also announced a $1 billion share repurchase program.
Micron Technology (MU) – Micron reported adjusted quarterly earnings of $2.14 per share, 17 cents above estimates. The computer chipmaker also reported better-than-expected earnings as sales of data center and smartphone chips showed strong growth. Micron issued an upbeat revenue guidance for the current quarter, and the stock is up 4.1% premarket.
Chewy (CHWY) – Chewy stock tumbled 13.5% in premarket trading after missing top and bottom line failures for the most recent quarter. The pet products seller lost 15 cents a share, more than the 8 cents loss analysts had expected as labor costs rose and profit margins shrank.
Norfolk Southern (NSC) – Norfolk Southern was up 2.1% in premarket trading after the railroad operator announced a new $10 billion share buyback program.
WeWork (WE) – WeWork Chief Executive Officer Sandeep Mathrani has added the additional role of chair to the office community. He fills the void left when former chairman Marcelo Claure left earlier this year. WeWork was up 3% in the premarket.
Pearson (PSO) – Shares of the educational publisher fell 7.1% premarket after private equity firm Apollo said it was unable to reach an agreement with Pearson on a possible takeover bid and does not intend to make an offer.
Wayfair (W) – Shares of the furniture and home accessories retailer suffered a 4.5% plunge in premarket trading after Loop Capital downgraded the stock to “sell” from “hold” and discounted the impact of tightening by the Fed and the US End of Covid-related stimulus measures predicted.