Check out the companies that make headlines before the alarm goes off:
Big number (HUGE) – Shares of the discount retailer fell 21.2% in money markets after missing Wall Street’s forecast for quarterly earnings and revenue. The company also reported a more-than-expected drop in comparable-store sales and offered cautious guidance for the full year, arguing that inflationary pressures dampened discretionary spending.
Hibbett (HIBB) – Shares of the sportswear retailer fell 6.5% in pre-market trading after falling short of analysts’ profit and sales estimates in the latest quarter. Hibbett said its customers had less discretionary income than they did in the first quarter of the year as stimulus payments boosted spending.
Pinduoduo (PDD) – The China-based e-commerce platform operator’s quarterly results were better than expected as China’s Covid-19 lockdown helped boost online spending. Pinduoduo is up 8.8% in pre-market trading.
Canopy growth (CGC) – The cannabis producer reported a larger-than-expected quarterly loss, with revenue also falling short of analysts’ forecasts. The company said it expects to be profitable on an adjusted basis in fiscal 2024. Growth Canopy fell 10.5% in pre-market trading.
Costco (COST) – Costco beat top and bottom estimates for the most recent quarter, but the warehouse retailer’s profit margin fell nearly 1 percentage point due to labor and shipping costs. chemistry increased. Costco said it is raising prices on some food items to make up for those increases. Its shares lost 1.3% in money markets.
Dell Technology (DELL) – Dell jumped 9.8% in pre-market trading, following better-than-expected profits and revenue in the latest quarter. The computer hardware maker has benefited from skyrocketing demand from businesses for desktops and laptops.
Distance (GPS) – Gap stock fell 17.8% after the clothing retailer cut its full-year earnings forecast and posted a larger-than-expected quarterly loss. Gap results are influenced by higher shipping costs and deeper discounts.
Ulta Beauty (ULTA) – Shares of Ulta jumped 8.4% in pre-market trading after the cosmetics retailer beat Street forecasts with its latest quarterly report and issued an upbeat outlook. Ulta has been supported by strong demand for beauty products.
American Eagle Outfitters (AEO) – American Eagle fell 13.4% in pre-market trading after its quarterly profit and revenue fell short of Wall Street estimates. The clothing retailer’s CEO, Jay Schottenstein, said the quarter was a challenging one with demand below the company’s expectations.
Red Robin Gourmet Burgers (RRGB) – Shares of the restaurant chain jumped 12.9% in presales after reporting a smaller-than-expected quarterly loss and revenue that beat analysts’ forecasts. Red Robin also updated its commodity cost guidance for the full year due to the effects of inflation.
