Ciena, GameStop, Rent The Runway and others

Try the businesses making headlines earlier than the bell:

Ciena (CIEN) – The networking gear maker’s inventory surged 19.1% after a considerable prime and backside line beat in its newest quarter. Ciena earned an adjusted 61 cents per share for its newest quarter, in contrast with a consensus estimate of 8 cents. The firm additionally stated it sees “outsized” income progress in 2023.

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GameStop (GME) – GameStop reported a wider-than-expected quarterly loss and gross sales that fell wanting predictions. CEO Matt Furlong stated the corporate had accomplished essential investments and can be very considered in future spending. GameStop moved between beneficial properties and losses in premarket buying and selling.

Rent The Runway (RENT) – Rent The Runway surged 16.9% within the premarket after its quarterly income got here in properly above Wall Avenue forecasts and the style rental firm issued an upbeat gross sales forecast. The firm additionally stated its restructuring course of was considerably full.

Oxford Industries (OXM) – Oxford Industries rose 2.6% in premarket buying and selling after the maker of the Tommy Bahama and Lily Pulitzer attire manufacturers reported better-than-expected quarterly outcomes and issued an outlook that surpassed analyst predictions.

Unilever (UL) – Unilever is weighing a doable $3 billion sale of its U.S. ice cream manufacturers together with Ben & Jerry’s, in line with a Bloomberg report.

Kinder Morgan (KMI) – Kinder Morgan forecast a rise in adjusted earnings for 2023, with the pipeline operator anticipating increased transportation demand for crude oil and different vitality merchandise. Kinder Morgan shares gained 2.1% in premarket buying and selling.

Cano Well being (CANO) – Cano Well being fell 5.3% within the premarket after Bloomberg reported that Daniel Loeb’s Third Level bought its remaining stake within the healthcare supplier amid issues about its liquidity.

Categorical (EXPR) – The small-cap attire retailer’s shares initially rallied within the premarket after it introduced a strategic partnership with international model administration agency WHP International, which is able to take a $25 million stake in Categorical. Individually, Categorical introduced a wider-than-expected quarterly loss and lower-than-expected income in what its administration stated was a harder quarter than it had anticipated. Shares rose 1.6% in premarket motion.

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