Thursday’s Pre-Market: Here’s What You Need To Know Before The Market Opens

U.S. Stock futures were slightly higher on Thursday as investors await data on the recovery of the labor market with jobless claims expected to be reported later in the day.

Nasdaq futures were leading the way rising around 0.4% followed by Dow and S&P futures which were both approximately 0.25% higher at the time of writing.

Companies reporting earnings today include Darden Restaurants (DRI), Cresco Labs (CRLBF) and BRP (DOOO) before the bell, while Science Applications (SAIC), Progress (PRGS) and Blink Charging (BLNK) will release their figures after the market closes.

Cellect Biotech (APOP) was both the most actively traded and the strongest stock before the bell after the company announced a strategic merger with Quoin Pharmaceuticals.

APOP was trading around 74% higher in the pre-market, followed by Houston Wire & Cable Company (HWCC) and Enochian Biosciences (ENOB), who were up 40% and 39% respectively.

WISeKey International (WKEY) led the way lower dropping 22% before the bell, while Evofem Biosciences (EVFM) and Rite Aid (RAD) were down 18% and 16% at the time of writing.

In corporate earnings news, KB Home (KBH) fell almost 3% in pre-market trading despite posting better-than-expected Q1 earnings. Earnings jumped 62% to $1.02 per share, beating analysts’ expectations of $0.92. Revenues of $1.14 billion, however, missed Street estimates of $1.21 billion but grew 6% from the year-ago period. The company delivered 2,864 homes in the quarter which represents a 4% increase compared to the year-ago period.

Meanwhile, RH Inc. (RH) climbed over 7% before the bell as strong demand for luxury products led the company to report better-than-expected Q4 results. Adjusted earnings surged 36% year-over-year to $5.07 per share and came in well ahead of analysts’ expectations of $4.76. Adjusted net revenues climbed 22% to $812.6 million and surpassed the consensus estimate of $797.27 million. “With the momentum in the business, we believe it’s safe to say 2021 should result in revenue growth in the range of 15% to 20%,” said RH CEO, Gary Friedman.

Evolus (EOLS) dropped over 12% before the market opened after reporting a wider-than-expected loss for Q4. A GAAP net loss of $3.28 per share was significantly higher than the Street’s estimates of a $0.34 loss per share. Revenues, however, beat forecasts of $20.3 million slightly, coming in at $20.6 million and increasing 5.8% year-on-year.

Winnebago (WGO) credits strong consumer demand for its stellar Q2 results. Revenues jumped 34% year-on-year to $839.9 million and beat analysts’ expectations of $798.2 million. Adjusted earnings of $2.12 per share came in well ahead of consensus estimates of $1.42 and increased 216% year-over-year. CEO Michael Happe said, “We are pleased with the outstanding market and financial results from our second quarter of fiscal 2021, as they reflect the sustained strength of our leading brand portfolio and our world-class team’s commitment to safely deliver high-quality products to our valued dealer network.”

In M&A news, Mettler-Toledo (MTD) has acquired PendoTECH, a producer of single-use sensors, transmitters, control systems and software. The total consideration for the deal includes an initial $185 million upfront payment with an additional $20 million in contingencies and other undisclosed post transaction amounts. MTD is up around 72% over the past year.

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