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Hormel, Ciena, GameStop, and more

Check out the companies making headlines before the bell:

Hormel (HRL) – Hormel added 1.7% in pre-market trading after beating earnings estimates and last quarter. The company behind food brands Spam, Dinty Moore and Jennie-O backed its previous sales guidance for the full year and also said its moves to mitigate inflation and supply chain issues had proven effective.

Brands (DBI) — The footwear and accessories retailer reported better-than-expected earnings and revenue for the fourth quarter of its business and raised its full-year earnings forecast, although it lowered its comparable sales growth forecast. Shares in Designer Brands jumped 3.7% in Premarket.

land end (EGP) — Shares of the apparel retailer fell 10.2% in premarket after the company reported a quarterly loss of 7 cents per share, 3 cents less than expected, but revenue less than Wall Street expectations. It also released full-year earnings forecasts of 60 cents to 88 cents a share, mostly below consensus estimates of 87 percent.

sina (CIEN) — The network equipment maker earned adjusted 50 cents per share last quarter, 4 cents below the consensus, while revenue came in below estimates. Sina said demand remains strong but supply chain challenges are adding to the uncertainty. Ciena stock fell 2.3% in pre-market activity.

Jim Stop (GME) — GameStop is up 1% in pre-market trading after posting an increase in sales in the fourth quarter as more people shop at its stores, although it also saw its losses widen.

Hewlett Packard Foundation (HPE) — Hewlett Packard Enterprise slipped a penny from estimates with adjusted quarterly earnings of 44 cents per share, while the enterprise computing company’s revenue was slightly below Wall Street expectations. The company said its profit margins have held up well in the face of inflation and supply chain disruptions. The stock fell 4.9 percent in the pre-market.

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MongoDB (MDB) – MongoDB jumped 8.6% in the primary market after reporting unexpected quarterly earnings and revenue that beat analysts’ expectations. Database platform provider sales are up 57% over the previous year.

rubbery (CHWY) — Chewy reported a quarterly profit of 4 cents per share, compared to the consensus forecast of 14 cents per loss per share. The pet products retailer also reported better-than-expected revenue and stuck to its earlier forecast. Its shares jumped 19.6 percent in pre-market trading.

PVH (PVH) — PVH stock rose 4.1% in the primary market after the apparel company reported better-than-expected quarterly sales and earnings. The company behind brands like Tommy Hilfiger and Calvin Klein said it has been negatively affected by supply chain and logistical disruptions as well as Covid-related lockdowns in China.

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