US Premarket: Revlon, Airbnb, Winnebago and other stocks making biggest moves

Revlon (REV)

Shares of the cosmetics maker rallied 32% in the premarket
action, continuing the growth that began after Revlon filed for Chapter 11
bankruptcy protection last week. Revlon jumped 91% on Friday and gained another
62% yesterday.

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Winnebago (WGO)

Shares of the recreational vehicle maker jumped 3.4% in the
premarket after it beat top and bottom-line estimates for its latest quarter.
Winnebago reported adjusted earnings of $.13 per share, compared with the
consensus estimate of $2.96, on the back of higher prices and a rise in its
gross profit margins.

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Airbnb (ABNB)

Airbnb shares slipped 2.4% in the premarket after JMP
Securities downgraded it to “market perform” from “market outperform” saying
that the post-pandemic jump in travel demand is already reflected in Airbnb’s
valuation.

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La-Z-Boy (LZB)

La-Z-Boy stock surged 8.2% in premarket action after
reporting better-than-expected quarterly results that included record sales for
the furniture maker. The company said it is focusing efforts to reduce its
backlog and shorten lead times.

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PulteGroup (PHM)

The home builder’s shares fell 3.2% in premarket action
after RBC Capital Markets downgraded the stock to “sector perform” from
“outperform.” RBC also lowered earnings estimates on the expectation that the
housing market will further deteriorate as mortgage rates continue to rise.

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Korn Ferry (KFY)

The stock jumped 3.1% in premarket trading after the
consulting firm reported an adjusted quarterly profit of $1.75 per share,
exceeding consensus estimates by 20 cents, with revenue also beating Wall
Street forecasts. Results were supported by a 30% jump in fee revenue compared
with a year earlier. Korn Ferry also announced a 25% dividend increase.

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Dow Inc. (DOW)

Shares of the chemical maker fell 4.2% in premarket trading
after Credit Suisse downgraded the stock to “underperform” from “neutral”.
Credit Suisse said several pandemic-related factors that boosted Dow and its
peers could be in the process of reversing.

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New Relic (NEWR)

Shares of the data analysis platform company jumped 3.4% in
the premarket after Jana Partners disclosed a 5.4% stake. In an SEC filing,
Jana said it believes the stock is undervalued and represents an attractive
investment opportunity.