Top gainers premarket: Moderna, Kohl’s, Intuit

People walk near the entrance to Kohl’s department store in Doral, Fla., on June 7, 2022.

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Check out the companies making headlines in premarket trading Wednesday.

modern Shares of the biotech company rose 2.4% as concerns over Covid-19 in China escalated after infection rates rose.

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VF Corporation Shares of the apparel and shoe maker rose 3.3% on the back of better-than-expected fiscal fourth-quarter results. The company earned 17 cents a share on an adjusted basis, above the 14 cents a share forecast by Refinitiv. Revenue of $2.74 billion was also slightly above expectations.

XPeng The electric car maker fell 4.7% after a poor result. Xpeng Motors also issued lower-than-expected second-quarter revenue guidance. Still, CEO He Xiaopeng said he is “confident that our company will enter a virtuous cycle in the coming quarters, driving product sales growth, team morale, customer satisfaction and brand reputation.”

Palantir Technology Shares fell 2.2 percent in premarket trading, their first drop in three sessions. Kathy Wood’s Ark Investments More than $4 million worth of Palantir stock was recently purchased, according to the company’s website.

analog device Analog Devices fell 5.3% in premarket trading Q3 guidance weaker than expected third fiscal quarter. Analog Devices expects third-quarter adjusted earnings of about $2.52 per share, compared with expectations of $2.65 per share, according to the FactSet consensus estimate. It expected revenue of about $3.1 billion, missing estimates of $3.16 billion. “Looking ahead to the second half of the year, we expect slower revenues given ongoing economic uncertainty and supply chain normalization,” Chief Executive Vincent Roche said in a statement.

first horizon The regional bank rose 2.3% in premarket trading Upgrade to Hold to Buy by Jefferies. The bank has top-notch capital strength and is below peers, the firm said.

Palo Alto Networks Shares of the cybersecurity company rose nearly 5% in premarket trading after the company reported fiscal third-quarter results that topped analysts’ expectations. The company reported adjusted earnings per share of $1.10 on revenue of $1.72 billion. Analysts polled by Refinitiv expected earnings of 93 cents a share on revenue of $1.71 billion. Palo Alto’s fourth-quarter earnings guidance also came in above expectations.

Cole’s Retailers up more than 13% After reporting better-than-expected results and a surprise profit in the most recent quarter. Kohl’s also reiterated its previous guidance.

intuition Shares of the tax and accounting technology maker fell 5% after it missed revenue expectations in the fiscal third quarter, according to Refinitiv data. That result was partly due to a decline in tax returns, Intuit reported.

— CNBC’s Jesse Pound, Samantha Subin, Alex Harring, Sarah Min and Tanaya Macheel contributed reporting.

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