Check out the companies that make headlines before the call:
FedEx (FDX) – FedEx earned an adjusted $4.59 a share for the latest quarter, trailing estimates by 5 cents, even though the delivery service’s revenue beat analysts’ forecasts. FedEx’s bottom line was impacted by a shortage of workers caused by the outbreak of micro-variant Covid-19 during the quarter. FedEx lost 3.1% in premarket.
GameStop (GME) – GameStop reported an unexpected quarterly loss even as the video game retailer’s revenue topped estimates. GameStop CEO Matt Furlong said the omicron option and supply chain issues had a significant impact on results during the holiday season. GameStop lost 7.6% in premarket.
US Steel (X) – US Steel shares fell 3.6% in premarket trading after the company issued weaker-than-expected guidance for the current quarter. Among other factors, the company cited an increase in the cost of raw materials.
Moderna (MRNA) – Moderna is seeking FDA approval for a second booster shot of its Covid-19 vaccine for adults aged 18 and over. The submission comes a day after Pfizer (PFE) and partner BioNTech (BNTX) asked the FDA to approve a second booster for people 65 and older. Moderna added 1% in premarket.
Boeing (BA) – The aircraft manufacturer is in talks with Delta Air Lines (DAL) to order up to 100 737 MAX 10 aircraft, according to people familiar with the matter who spoke to Reuters.
Joanne (JOAN) – The crafts retailer tumbled 8.3% in premarket trading after it missed quarterly sales expectations and noted a $60 million increase in shipping costs in 2021. .
Wingstop (WING) – Shares of the restaurant chain tumbled 4.7% in premarket trading after Piper Sandler downgraded its rating to underweight from overweight twice. Piper said it will be harder for Wingstop to maintain a premium valuation during the restaurant industry’s expansion cycle as higher costs will impact profits.
Rent The Runway (RENT) – The fashion rental company surged 4.2% in premarket trading after Jefferies began covering the stock with a Buy recommendation. The firm said Rent The Runway’s extensive offerings and high barrier to entry are among the factors that will boost revenue by as much as 50%.
SolarEdge Technologies (SEDG), a solar hardware and software maker, posted 2 million shares at $295 per share, compared to Thursday’s close of $314.60. Shares of SolarEdge fell 3.4% in premarket trading.