Hot Stocks: WBA, STZ, HELE rise on earnings news; CAG drops; OBSV releases clinical data
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Earnings news took center stage in Thursday's pre-market trading, as Wall Street looked for direction in the wake of Wednesday's massive selling spree. Walgreens (NASDAQ:WBA), Constellation Brands (NYSE:STZ) and Helen of Troy (NASDAQ:HELE) all gained ground before the opening bell following the release of their quarterly results.

ConAgra Brands (NYSE:CAG) moved in the opposite direction after the announcement of its financial figures. Shares dropped on disappointing results.
In other news, ObsEva (NASDAQ:OBSV) got a pre-market boost on positive clinical trial data.

Gainers

Walgreens (WBA) reported a quarterly profit that beat expectations, boosted by sales from continuing operations that rose nearly 8% from last year. U.S. comparable retail sales jumped almost 11%.
Fueled by the earnings beat, WBA posted a pre-market gain of nearly 3%.
Quarterly results also gave a lift to alcoholic products producer Constellation Brands (STZ). The stock rose more than 2% on non-GAAP EPS that topped analysts' projection by more than 20%. Revenue slipped 5% to $2.32B.
The maker of beer, wine and spirits also offered an upbeat forecast for the full year. It predicted non-GAAP EPS of $10.50-$10.65, compared to an analyst consensus of $9.97.
Helen of Troy (HELE) also edged higher in pre-market action following the release of its latest financial figures. The household products maker exceeded projections with its top and bottom lines and raised its guidance for the full year. Shares climbed about 2% on the news.
Looking at non-earnings news, ObsEva (OBSV) advanced nearly 4% in pre-market action on positive clinical trial data. The company released positive findings from a Phase 3 study of linzagolix in women with moderate-to-severe endometriosis-associated pain.


Decliner

ConAgra Brands (CAG) lost ground on earnings news, falling by about 2% in pre-market action. The packaged food maker missed expectations with its EPS figure, revealing revenue that advanced about 3% from last year.
CAG also slightly reduced its adjusted operating margin forecast for the full year, saying it now expects a figure around 15.5%. Previously, the company had issued guidance calling for a result around 16%.
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