Conagra (CAG) – The food producer’s share fell 5.5% in the premarket after issuing a weaker-than-expected forecast for the financial year ending in May. Conagra’s results are affected by the higher costs of transportation and raw materials. Levi Strauss (LEVI) – Levi Strauss surpassed estimates by 4 cents with an adjusted quarterly gain of 46 cents per share, and maker apparel earnings also exceeded Wall Street forecasts. The company saw great demand for its jeans, tops and jackets, while successfully raising prices and reducing offers. Levi Strauss rose 3% in pre-market trading. HP Inc. (HPQ) – HP is up 15.2% in pre-order trading following news that Warren Buffett’s Berkshire Hathaway has acquired a 11.4% stake in PC and printer maker. Rite Aid (RAD) – The stock fell 18.3% in pre-purchase traffic after Deutsche Bank downgraded the pharmacy operator to “selling” from “waiting”. Deutsche Bank said Covid was accelerating the decline of its retail pharmacy division and that Rite Aid may not be able to make enough profit to continue operating as a company. Wayfair (W) – Wayfair fell 4.1% in the premarket after Wells Fargo downgraded the stock to “underweight” from “equal weight”. Wells Fargo said the high-quality furniture retailer would be hurt by declining demand, overly optimistic consensus estimates and other headwinds. Rent the Runway (RENT) – Rent the Runway’s share jumped 3.9% in the premarket after the fashion rental company announced a price increase for its subscribers. CDK Global (CDK) – Car technology retailer has agreed to buy from Brookfield Business Partners for $ 54.87 a share in cash. The price represents a premium of 12% compared to the closing price of CDK on Wednesday. SoFi Technologies (SOFI) – Shares of the online personal finance company fell 5.1% in premarket after the full year outlook narrowed. The cut follows the White House announcement that the student loan moratorium will be extended. JD.com (JD) – JD.com has announced that founder Richard Liu has resigned as CEO and President Xu Lei will take over as CEO of the Chinese e-commerce company. Liu will remain president. JD.com fell 1.1% in premarket. Teladoc Health (TDOC) – Virtual doctor’s provider saw his share gain 1.5% in pre-market action after Guggenheim began “market” rating coverage. Guggenheim said access to healthcare is more driven by digital interactions and that Teladoc has a wider portfolio of services than other providers.
