Movers: Campbell, Credit Suisse, DocuSign, Novavax, Ollie's Bargain, Thor, Western Digital

Barry Adams
08 Jun, 2022
New York City

Campbell Soup increased 2.1% to $47.60 after the food products company said sales in the third quarter ending on May 1 increased 7% to $2.1 billion and net income rose 17.5% to $188.0 million. 

For the full-year the company revised higher its sales outlook to increase between flat and 1% from the previous estimate of flat to decline of 2%. 

Credit Suisse dropped 6.7% to 6.26 francs after the company said it is likely to report a loss in the second quarter on "challenging market conditions." 

The financial group is also looking to cut staff amid dwindling profitability and slowing activities. 

DocuSign Inc jumped 3.5% to $90.85 after the company signed a global partnership agreement helping remote working and prepare, sing, and manage agreements in the cloud. 

Novavax, Inc jumped 4.4% to $49.52 after the company won a recommendation from the FDA advisory panel for its Covid-19 vaccine. The vaccine will now be reviewed by the entire FDA panel for its approval or rejection.   

Ollie's Bargain Outlet declined 6.8% to $50.99 after the deep discount retailer said net sales in the first quarter ending in April declined 10.1% to $406.7 million on 17.3% fall in comparable sales. 

Net income decreased 77.3% to $12.5 million and net income per diluted share decreased 76.2% to $0.20 from a year ago. 

Thor Industries, Inc was flat after rising as much as 5% in early trading after the company reported net sales in the third quarter ending in April jumped 34.6% to $4.66 billion. 

Earnings per share jumped 92% to $6.32 from $3.29 a year ago and consolidated backlog at the end of the quarter increased to $13.88 billion from $17.73 billion at the end of the previous quarter. 

Western Digital declined 2.8% to $58.63 after the company signed a standstill agreement with activist shareholder Elliott Management till the 2022 annual shareholder meeting while the company is conducting strategic review of the business. 

The company is evaluating different options including splitting its flash memory business from hard disk business, according to a regulatory filing with the SEC today. 

Elliott Management, which controls 6% of Western Digital, has been pushing for splitting two businesses.