Business

DraftKings, Roku, Deere and more

Check out the companies that make headlines before the call:

DraftKings (DKNG) – Shares of the betting company fell 13.2% in premarket trading despite lower-than-expected quarterly losses and better-than-expected earnings. DraftKings is forecasting a bigger-than-expected full-year adjusted loss as costs continue to rise.

Roku (ROKU) – Roku shares fell 26% in premarket trading despite higher-than-expected earnings for the latest quarter. The video streaming device maker’s earnings fell short of analysts’ forecasts and it issued a weaker-than-expected forecast due to higher component prices and supply chain disruptions.

Bloomin’ Brands (BLMN) – The restaurant operator outperformed estimates by 8 cents, with adjusted quarterly earnings of 60 cents per share, and revenue slightly above consensus. The parent company of Outback Steakhouse and other chains also restored its quarterly dividend and announced a new $125 million share buyback program. Shares rose 6.6% in premarket trading.

Deere (Germany) – The heavy equipment maker reported quarterly earnings of $2.92 per share, well above the consensus estimate of $2.26, with revenue also beating analysts’ forecasts. The company also raised its full-year profit forecast on the back of strong demand and rising prices.

Shake Shack (SHAK) – Shake Shack posted an adjusted quarterly loss of 11 cents per share, less than the 11 cents expected by analysts, while the restaurant chain’s revenue was in line with Wall Street’s forecasts. Shake Shack said the omicron option scared away customers and led to the temporary closure of some restaurants. He also issued a pessimistic outlook for the current quarter amid rising spending. Shake Shack fell 15.5% in premarket trading.

Dropbox (DBX) – Dropbox beat estimates by 4 cents, with adjusted quarterly earnings of 41 cents per share, and the software company’s revenue also beat Street’s forecasts. Paying users and average revenue per user also came in above consensus, but shares fell 6.3% in premarket trading as earnings margins for the current quarter came in slightly lower than expected.

DuPont (DD) – DuPont has completed the sale of most of its materials division to specialty materials manufacturer Celanese (CE) for $11 billion. DuPont jumped 4.1% in premarket trading, while Celanese added 3.8%.

Pilgrim’s Pride (PPC) – Shares of Pilgrim’s Pride plunged 14.8% in premarket trading after Brazilian meatpacker JBS abandoned plans to buy a stake in a poultry producer it doesn’t already own. JBS owns 80% of Pilgrim’s Pride, but the parties were unable to agree on a deal for the remaining 20%.

Intel (INTC) – Intel CEO Pat Gelsinger told an investor meeting that the chip maker aims to achieve double-digit annual revenue growth in three to four years. Gelsinger also said that Intel may be interested in participating in a potential consortium if one is formed to buy British semiconductor company Arm Ltd. Intel shares fell 1% in pre-market trading.

NortonLifeLock (NLOK) — NortonLifeLock has pushed back the expected completion date for its acquisition of rival cybersecurity company Avast from February 24 to April 4, saying it is still awaiting regulatory approval in the UK and Spain. NortonLifeLock fell 1% in premarket.


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