Take a look at the companies that appear in the headlines before the bell:
Capri Holdings (CPRI) – The mother of luxury brands such as Michael Kors, Versace and Jimmy Choo, jumped 11% on the pre-market after posting better-than-expected quarterly figures before returning almost all of those gains. Capri won an adjusted $ 1.02 per share, 20 cents above forecasts, and managed to widen profit margins in the face of pandemic problems. However, the company issued a lighter-than-expected revenue forecast for the full year.
HP Inc. (HPQ) – HP surpassed forecasts by 3 cents with adjusted quarterly earnings of $ 1.08 per share. The computer and printer maker’s revenue also exceeded Street’s forecasts. HP raised its profit forecast by taking advantage of strong commercial demand from customers despite supply chain disruptions.
Salesforce (CRM) – Salesforce rose 9.1% in the premarket after beating analysts’ forecasts by 4 cents with adjusted quarterly earnings of 98 cents per share. The business software giant also surpassed revenue forecasts and raised its full-year forecasts amid continuing strong demand.
Victoria’s Secret (VSCO) – Victoria’s Secret jumped 6.8% in pre-market trade, despite publishing a mixed quarter. Adjusted earnings retailer earnings of $ 1.11 per share for the last quarter exceeded the consensus estimate of 84 cents, and revenue matched forecasts. Profit guidelines for the current quarter fell below some forecasts. The company was able to deny the ultimate impact of supply chain problems and muted consumer spending.
Weibo (WB) – China-based social media company reported better-than-expected earnings and revenue for the last quarter. The company added users and called its advertising business “relatively sustainable” in the face of blocking Covid in the country. Weibo jumped 5.5% before market action.
Ambarella (AMBA) – Ambarella fell 3.8% in pre-market trade after the chipmaker issued a quarterly revenue forecast below analysts’ estimates due to the negative impact of the Covid blockade in China. Ambarella published the best and final results for its last quarter.
ChargePoint Holdings (CHPT) – ChargePoint’s adjusted loss for the last quarter was 21 cents a share, 2 cents more than analysts had expected. Revenues of the network operator for charging electric vehicles exceeded forecasts. ChargePoint also issued lighter-than-expected revenue guidelines for the current quarter and full year, as it tackles global supply constraints. Shares fell 2.3% in pre-market action.
Li Auto (LI) – China-based electric vehicle maker delivered 11,496 vehicles in May, up 166% from a year earlier. Li shares added 2% on the preliminary market.
Nio (NIO) – Nio delivered 7,024 vehicles in May, up 4.7% from a year earlier. The China-based electric vehicle maker also said vehicle deliveries increased by 11.8% in 2022 compared to the first five months of 2021. Nio grew 1.6% in pre-market trade.
Xpeng (XPEV) – Xpeng delivered 10,125 electric vehicles last month, 78% more than a year ago, with year-to-date deliveries doubling from a year earlier. Shares of the China-based company added 1.3% to the preliminary market.
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