Today's Pre-Market Stock Movers: ADBE, META, ACN, MAXR and More

Movers and Shakers wrote a column · Dec 16, 2022 21:08

Gapping up

$Adobe (ADBE.US)$ +4.6%(The software company reported better-than-expected quarterly earnings and revenue that was in line with analyst forecasts. Adobe also issued upbeat current quarter guidance.)

$Darden Restaurants (DRI.US)$ +1% (The parent of Olive Garden and other restaurant chains reported better-than-expected profit and revenue for its latest quarter, and exceeded analyst forecasts for same-restaurant sales. Darden also raised the lower end of its 2023 earnings guidance range.)

$Maxar Technologies (MAXR.US)$ +122.38% (The satellite owner and operator agreed to be acquired by private equity firm Advent International for $53 per share. Maxar — whose technology powers the popular Google Maps app — closed at $23.10 per share on Thursday.)

$United States Steel (X.US)$ +1% (U.S. Steel issued better-than-expected current quarter guidance and said commercial demand for steel is on the upswing in the U.S.)

$Scholastic Corp (SCHL.US)$ +5.7% (The education and media company reported upbeat quarterly earnings. Scholastic's profit margins expanded during the quarter and it said the Children's Books business performed particularly well.)

$Meta Platforms (META.US)$ +1.9% (The Facebook and Instagram parent was upgraded to overweight from neutral at J.P. Morgan Securities, which pointed to several factors including an increase in cost controls and an easing of the impact of $Apple (AAPL.US)$'s privacy rule changes.)

Gapping down

$Accenture (ACN.US)$ -1.5% (The consulting firm beats estimates on the top and bottom lines for its latest quarter. Accenture issued a revenue range for the current quarter whose midpoint is below current consensus and said the stronger U.S. dollar will impact its fiscal 2023 results by 5%.)

$Guardant Health (GH.US)$ -33.4% (Guardant reported trial results for its DNA blood test for colorectal cancers. The test detected 83% of colorectal cancers and 13% of advanced adenomas, but the test was not as effective as the Cologuard stool-based test made by $Exact Sciences (EXAS.US)$. Exact Sciences shares rallied 16.9% in premarket trading.)

$Winnebago Industries (WGO.US)$ -1.5% (Winnebago’s quarterly results beat top and bottom line estimates, although profits declined from a year ago due to the impact of inflation and supply disruptions.)

Source: CNBC

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