KB Home (KBH) – KB Home reported quarterly earnings of $2.32 per share, beating the $2.03 consensus estimate, and the home builder’s revenue also came in above analyst forecasts. However, it said rising interest rates and higher prices were beginning to have a negative impact on sales growth. KB Home jumped 3% in premarket trading.
Occidental Petroleum (OXY) – Berkshire Hathaway (BRK.B) bought an additional 9.6 million shares of Occidental Petroleum, raising its stake in the energy producer to 16.3%. Occidental rallied 2.9% in premarket action.
Steelcase (SCS) – Steelcase shares rose 3.1% in premarket trading after the office furniture maker reported better-than-expected quarterly results. Higher prices and increased demand helped offset rising costs stemming in part from supply chain difficulties.
WeWork (WE) – The office-sharing company’s stock rose 3.3% in the premarket after Credit Suisse initiated coverage of the stock with an “outperform” rating. Credit Suisse feels WeWork is among the companies that will benefit from the increase in hybrid work and co-working, as well as demographic trends.
