Check out the companies making headlines before the bell:
BioNTech (BNTX) – The drug maker's shares jumped 5.9% in the premarket after reporting significantly better-than-expected revenue and profit for the fourth quarter. BioNTech also reiterated its prior vaccine revenue guidance for 2022.
Five Below (FIVE) – The discount retailer's stock slid 3.4% in premarket trading following a mixed quarterly 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 analyst forecasts.
RH (RH) – RH fell 2.8% in premarket trading after the high-end furniture retailer reported lower-than-expected revenue for its latest quarter, although its profit came in slightly above Wall Street forecasts. RH also announced a 3-for-1 stock split.
Lululemon (LULU) – Lululemon rallied 7.4% in premarket action despite a quarterly revenue miss. The athletic apparel company reported an adjusted quarterly profit of $3.37 per share, 9 cents above estimates, and issued upbeat guidance for 2022. Lululemon also announced a $1 billion share buyback program.
Micron Technology (MU) – Micron reported an adjusted quarterly profit of $2.14 per share, 17 cents above estimates. The computer chip maker also reported better-than-expected revenue as data center and smartphone chip sales showed strong growth. Micron issued an upbeat revenue forecast for the current quarter, and the stock jumped 4.1% in the premarket.
Chewy (CHWY) – Chewy stock was slammed by 13.5% in premarket trading after top and bottom line misses for its latest quarter. The pet products seller lost 15 cents per share, wider than the 8-cent loss that analysts were anticipating, as labor costs rose and profit margins shrunk.
Norfolk Southern (NSC) – Norfolk Southern rose 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 chairman at the office-sharing company. He fills the void created when former Chairman Marcelo Claure left earlier this year. WeWork added 3% in the premarket.
Pearson (PSO) – The educational publisher's stock slumped 7.1% in the 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) – The furniture and home decor retailer's shares took a 4.5% hit in premarket trading after Loop Capital downgraded the stock to "sell" from "hold," predicting a negative impact from Fed tightening and the end of Covid-related stimulus.