Take a look at the companies that appear in the headlines before the bell:
Macy’s (M) – Macy’s grew 15% in the pre-market after reporting better-than-expected first-quarter earnings and revenue and raising its full-year earnings forecast. The results were boosted by strong demand for clothing as people returned to work and other activities outside the home.
Dollar General (DG) – Dollar General shares rose 10.1% in pre-market trading after its quarterly results exceeded Wall Street forecasts and sales in comparable stores fell less than expected. Dollar General also raised its forecast for sales in the same store, as more and more buyers are turning to discount stores amid rising inflation.
Dollar Tree (DLTR) – Like its rival Dollar General, Dollar Tree reported better-than-expected results for its last quarter with increased sales in comparable stores, doubling Street forecasts. Dollar Tree rose 12.3% in pre-marketing.
Twitter (TWTR) – Shares of Twitter rose 5.6% in the pre-market after the news that Elon Musk will allocate more of his own wealth to finance his deal to take over the company worth $ 44 billion. An SEC document showed that Musk had invested $ 33.5 billion in equity, up from a previous $ 27.25 billion.
Medtronic (MDT) – The latest quarterly results from the medical device manufacturer do not meet analysts’ forecasts, as they are feeling the impact of global supply chain problems. Medtronic fell 3.3% in the trailer.
Alibaba (BABA) – The latest quarterly profits and revenues of the China-based e-commerce giant have surpassed analysts’ estimates, aided by increased online demand amid the blocking of Covid-19 in China. Shares of Alibaba added 4.5% before market action.
Baidu (BIDU) – Baidu jumped 5.6% in pre-market trading as the search engine giant surpassed estimates in its last quarter despite the negative impact of the blockade of Covid in China. Baidu saw strong growth in the quarter for its cloud services.
Nvidia (NVDA) – Nvidia fell 4.2% in the pre-market after the graphics chip maker issued weaker-than-expected guidance for the current quarter, pointing to supply chain problems and slower business in Russia. Nvidia reported better-than-expected earnings and revenue for the last quarter.
Williams-Sonoma (WSM) – Williams-Sonoma jumped 8.2% in pre-market trade after a three-month profit and revenue strike and a comparable increase in sales that more than tripled consensus estimates. The home furnishings retailer repeated its previous year-round guidelines and – unlike many other retailers – expects profit margins to remain stable.
Snowflake (SNOW) – Snowflake reported better-than-expected earnings and revenue for the last quarter, but the cloud data platform provider said some of its customers are spending more cautiously due to an uncertain macroeconomic environment. As a result, shares fell 13.3% before market action.
Nutanix (NTNX) – Nutanix shares fell 35.4% in pre-market trading after the cloud computing company issued a weaker-than-expected forecast. Nutanix cites supply chain issues that have affected its hardware partners, among other factors.
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