Premarket Stock Movements: Neogen Surges After Guidance Hike; Constellation Brands Slides Despite Beat
Neogen Corp surged nearly 11% in premarket trading after raising its fiscal year revenue guidance to between $885 million and $890 million, exceeding the previous forecast of $883.2 million from FactSet analysts. The food safety company's upward revision reflects strong performance ahead of expectations. Penguin Solutions also gained over 4% following better-than-expected fourth-quarter results with adjusted earnings per share (EPS) at $1 and revenue reaching $566.7 million, surpassing analyst estimates for EPS of 77 cents and revenue of $521 million. Meanwhile, Constellation Brands shares fell nearly 5%, despite reporting fiscal second-quarter profits above expectations due to declining beer operating margins and slightly lower depletions. Flutter Entertainment rose almost 3% after Citi upgraded its rating from neutral to buy, citing overblown concerns around Brazil operations and U.S. sports results in September.
Tickers: $FLTR $NEOG $PLTR $STZ
Topics: earnings guidance update stock movement