Check out the companies making headlines before the bell:
Hormel (HRL) – The food producer’s stock fell 6.4% in premarket after reporting a mixed quarter. Earnings beat estimates, but sales fell short of Wall Street forecasts. Hormel issued a weaker-than-expected outlook and said he expected a volatile, high-cost environment.
petco (FRAME) – Petco’s adjusted quarterly profit of 16 cents per share matched Street’s forecast, but revenue was slightly above estimates. A comparable store sales increase of 4.1% beat FactSet’s consensus estimate of a 3.5% increase. Shares of the pet products retailer rose 8% in premarket trading.
CrowdStrike (CRWD) – CrowdStrike plunged 17.6% in the pre-market after the cybersecurity company’s subscription count fell below analysts’ forecasts. CrowdStrike posted better-than-expected earnings and revenue for its latest quarter, but economic uncertainty is prompting customers to delay spending.
Therapeutic Horizon (HZNP) – Horizon soared 32.9% in after-hours trading after the drugmaker said it was in preliminary talks about a possible sale with several big pharmaceutical companies, including Amgen ( AMGN), Sanofi (SNY) and Johnson & Johnson’s (JNJ) Janssen Global Services unit.
State Street (STT) – State Street added 3.5% to premarket stock after announcing an agreement to end its planned $3.5 billion purchase of Brown Brothers Harriman’s investor services unit. State Street cited difficulties getting regulators’ approval for the deal.
biogenic (BIIB) – Shares of Biogen rose 3.6% in premarket action after partner Esai said he believed two deaths in the trial of their experimental Alzheimer’s drug could not be attributed to treatment. Biogen’s stock fell earlier in the week when the report of the second death first surfaced. Data from the trial showed the drug slowed cognitive decline but may carry a risk of serious side effects.
NetApp (NTAP) — NetApp fell 10.9% in premarket on a weaker-than-expected forecast from the cloud computing company, which reported better-than-expected quarterly results.
Working day (WDAY) – Workday stock jumped 9.6% in after-hours trading after the human resources software maker raised its outlook and announced a share buyback program. Workday also reported results above and below expectations for its latest quarter.
Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise gained 1.9% in the pre-market after the enterprise computing company reported record quarterly sales and released strong revenue guidance.