Wednesday Morning Rebel Brief: Roku Acquisition Rumors

The indices are set to open marginally lower this morning, with the S&P 500 trading lower by 0.41%, the Nasdaq trading lower by 0.36%, and the Dow Jones Industrial Average trading lower by 0.59% in the premarket. 

Oil continues to march higher, driving prominent energy stocks like Exxon ($XOM), Occidental Petroleum ($OXY) and Chevron ($CVX) higher along with it. 

Here’s a look at three other stocks that are moving higher this morning, and one that isn’t. 

Roku Acquisition Rumors Lead to Big Stock Surge

Shares of Roku ($ROKU) traded higher by more than 8% in the premarket this morning off of brand new acquisition rumors. 

The rumors were generated from a Business Insider article, and claim that higher-ups within Roku were discussing a possible acquisition by streaming giant Netflix ($NFLX).

Campbell’s Soup ($CPB) Beats Earnings, Raises Revenue Guidance

Campbell Soup ($CPB) reported a top and bottom line earnings beat this morning. The food company reported an EPS surprise of 14.8% ($0.70 vs an estimated $0.61), and a revenue surprise of 3.9% ($2.13 billion vs an estimated $2.05 billion).

Revenue and profit margins grew by 7.4% and 22.8% year-over-year, respectively. 

The canned-food proprietors reiterated EPS guidance of $2.75-$2.85 and gave a mild raise in revenue guidance: From a previous $8.306B-$8.476B, to a newly expected $8.476B-$8.561B.

The stock is currently trading higher by more than 3.5% in the premarket.

Lovesac Posts Big EPS Surprise

Lovesac ($LOVE) reported a top and bottom line earnings beat this morning. The furniture company reported an EPS surprise of 160% ($0.12 vs an estimated -$0.20), and a revenue surprise of 11.9% ($129.4M vs an estimated $115.6M).

Revenue grew by 56% year over year and profit margins fell by 7.7% year-over-year. 

The luxury beanbag brand reiterated EPS guidance of $2.75-$2.85 and gave a mild raise in revenue guidance: From a previous $8.306B-$8.476B, to a newly expected $8.476B-$8.561B.

The stock has been all over the map in premarket, at one point trading higher by 5%, and at another point trading lower by 11%. Currently, the stock is up by 2% in early trading.

Credit Suisse Will Miss Profit Expectations in Q2

Shares of Credit Suisse ($CS) traded lower by more than 6% in the premarket this morning after the investment bank warned of incoming Q2 losses.

The bank blamed monetary tightening, the conflict in Europe, and volatile market conditions. 

For more quick takes on the hottest market news this morning, check out Jon Najarian’s 60 Seconds!