Business

Dollar Tree, Peloton, Salesforce and more

Check out the companies that make headlines before the alarm goes off:

Dollar Tree (DLTR) Shares of the discount retailer fell 6.6% in money markets after cutting its full-year earnings forecast, driven by the impact of price-related investments at Family Dollar stores. Dollar Tree reported better-than-expected profit for its most recent quarter, with revenue matching Wall Street estimates.

Peloton (PTON) Peloton fell 17.5% in pre-market trading after reporting a larger-than-expected loss and much lower revenue than Street forecasts. Peloton also said its connected fitness business will remain challenging in 2023.

Abercrombie & Fitch (ANF) – Shares of Abercrombie fell 10.5% in money markets after the clothing retailer reported an unexpected quarterly loss and lower-than-expected revenue numbers. It also cut its full-year sales forecast, citing the impact of inflation.

Total Dollars (DG) Dollar General reported better-than-expected quarterly results, as well as more-than-expected same-store sales. The discount retailer also increased its share buyback authorization. Shares edged higher in money markets but fell to the negative after rival Dollar Tree cut its full-year forecast.

Salesforce (CRM) – Salesforce fell 6.3% in pre-market trading after the business software giant cut its full-year guidance, as economic uncertainty slowed the pace of customer transactions. Salesforce posted better-than-expected revenue and profit for its most recent quarter.

Nvidia (NVDA) Nvidia fell 3.6% in money markets after missing quarterly revenue and results estimates. The graphics chip maker also offered a cautious forecast, as its games business continues to cope with weakening demand.

Autodesk (ADSK) – Shares of the design software maker rose 9.2% in trading before giving an upbeat financial forecast and calling demand “strong.” It also reported better-than-expected results for the most recent quarter.

Snowflake (Snow) Snowflake shares rose 19% in after-hours trading after the data software company reported better-than-expected quarterly revenue. CEO Frank Slootman says the company’s consumption-based model – which allows customers to tailor how much they use Snowflake’s services after signing a contract – is proving to be an advantage.

Telehealth Stocks – Shares of telehealth companies soar on news that Amazon.com (AMZN) is discontinuing telehealth to employees. Teladoc Health (TDOC) up 5.5%, His & His Health (HIMS) add 1.1% and Amwell (AMWL) up 7.7%.

Callaway Golf (ELY) – Callaway Golf gained 2.1% in the currency market after it announced plans to change its name to Topgolf Callaway Brands, to reflect its lifestyle approach to golf equipment and apparel. The name change will take effect around September 6.

Victoria’s Secret (VSCO) – Victoria’s Secret lost 3.7% in pre-market trading after the womenswear maker slashed its full-year outlook. The company said it expected its customers to be impacted by inflation and other financial challenges.

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