Stocks making the biggest moves premarket: Macy’s, Twitter, Medtronic and more

Finance

In this article

Check out the companies making headlines before the bell:

Macy’s (M) – Macy’s surged 15% in the premarket after reporting better-than-expected profit and revenue for the first quarter and raising its full-year earnings forecast. Results got a boost from strong apparel demand as people returned to work and other out-of-home activities.

Dollar General (DG) – Dollar General shares rallied 10.1% in premarket trading after its quarterly results beat Wall Street forecasts, and comparable-store sales fell less than expected. Dollar General also boosted its same-store sales forecast as more shoppers turn to discount stores amid elevated inflation.

Dollar Tree (DLTR) – Like its competitor Dollar General, Dollar Tree reported better-than-expected top and bottom-line results for its latest quarter with its comparable-store sales increase doubling Street forecasts. Dollar Tree surged 12.3% in premarket trading.

Twitter (TWTR) – Twitter shares rose 5.6% in the premarket, following news that Elon Musk will commit more of his own wealth to finance his $44 billion takeover deal for the company. An SEC filing showed Musk committed $33.5 billion in equity, up from the prior $27.25 billion.

Medtronic (MDT) – The medical device maker’s latest quarterly results fell short of analyst estimates as it felt the impact of global supply chain issues. Medtronic fell 3.3% in the premarket.

Alibaba (BABA) – The China-based e-commerce giant’s latest quarterly earnings and revenue beat analyst estimates, helped by increased online demand amid China Covid-19 lockdowns. Alibaba shares added 4.5% in premarket action.

Baidu (BIDU) – Baidu jumped 5.6% in premarket trading, as the search engine giant beat estimates in its latest quarter despite a negative impact from Covid lockdowns in China. Baidu saw strong growth during the quarter for its cloud-based services.

Nvidia (NVDA) – Nvidia slid 4.2% in the premarket after the graphics chip maker issued weaker-than-expected guidance for its current quarter, pointing to supply chain issues and slower business in Russia. Nvidia reported better-than-expected profit and revenue for its latest quarter.

Williams-Sonoma (WSM) – Williams-Sonoma jumped 8.2% in premarket trading, following a quarterly earnings and revenue beat and a comparable-sales increase that more than tripled consensus estimates. The home furnishings retailer reiterated its prior full-year guidance and — unlike many other retailers —expects profit margins to hold steady.

Snowflake (SNOW) – Snowflake reported better-than-expected profit and revenue for its latest quarter, but the cloud data platform provider said some of its customers are spending more cautiously because of an uncertain macroeconomic environment. As a result, the shares slumped 13.3% in premarket action.

Nutanix (NTNX) – Nutanix stock plunged 35.4% in premarket trading after the cloud computing company issued a weaker-than-expected forecast. Nutanix cited supply chain issues that impacted its hardware partners, among other factors.

Products You May Like

Articles You May Like

Inflation Reduction Act extends ‘pass-through’ tax break limits for 2 more years. Here’s what that means for entrepreneurs
The lesson for Main Street from the Walmart, Target inventory failures
What ‘crypto winter?’ Schwab launches ETF giving investors significant cryptocurrency exposure
‘I work just 5 hours a week’: This 39-year-old makes $160,000 a month in passive income—a look at his typical day
Berkshire Hathaway reports operating earnings surge, but posts big investment loss amid market rout

Leave a Reply

Your email address will not be published.