Check out some of the largest moving companies on the pre-market:
Best Buy (BBY) – Best Buy stock rose 3.8% in the pre-market after the electronics retailer posted quarterly earnings of $ 2.23 per share, beating consensus estimate of $ 1.39 per share. Like-for-like sales and sales also exceeded Wall Street forecasts, and Best Buy increased its forecast for full-year like-for-like sales.
Snowflake (SNOW) – Snowflake lost 11 cents per share in the first quarter, less than the 16 cents per share forecast by analysts. The cloud computing company’s revenue also beat forecasts, but stocks fell 3.3% in the pre-market as losses grow at a rate similar to revenue.
Okta (OKTA) – Okta shares fell 4.4% in premarket trading after the identity management software maker forecast an above-expected loss for the current quarter and announced the impending departure of Chief Financial Officer Mike Kourey.
Dollar General (DG) – The discounter reported quarterly earnings of $ 2.82 per share, beating consensus estimate of $ 2.19 per share. Sales exceeded estimates and sales in comparable stores declined less than expected. Dollar General also raised its full-year guidance after benefiting from a new round of government business reviews for its clients. Despite the beat, Dollar General shares fell 1.5% in premarket trading.
Medtronic (MDT) – The medical device maker beat estimates by 8 cents per share with quarterly earnings of $ 1.50 per share. Revenues also beat estimates as medical procedures recovered amid a receding pandemic. Medtronic also increased its dividend 9%.
Dollar Tree (DLTR) – The discounter’s shares fell 2.7% in the pre-market after releasing a below-expectations earnings outlook for the full year. Dollar Tree top and bottom beat estimates for the last quarter, and like-for-like store sales grew faster than expected.
Williams-Sonoma (WSM) – Williams-Sonoma earned $ 2.93 per share in the most recent quarter, beating the consensus estimate of $ 1.83 per share. The homewares retailer’s revenues were above projections and also gave an optimistic outlook as shoppers continue to invest in their homes. The share rose 3.3% in premarket trading.
American Eagle (AEO) – American Eagle beat estimates 2 cents per share with quarterly earnings of 48 cents per share. Sales were slightly above Wall Street forecasts. The clothing retailer benefited from increased spending by customers who received stimulus checks, which increased demand and reduced the need for discounts.
Nvidia (NVDA) – Nvidia reported quarterly earnings of $ 3.66 per share, compared to a consensus estimate of $ 3.28 per share. Sales exceeded Street forecasts, and the chipmaker also issued an optimistic sales outlook. Nvidia said it couldn’t tell how much of its revenue surge was generated by sales to cryptocurrency miners who use both crypto-specific chips and Nvidia’s gaming chips.
HSBC (HSBC) – HSBC is pulling out of the US retail market. It sells its East Coast banks to Citizens Financial Group (CFG) Citizens Bank and its West Coast business to Cathay Bank, a unit of Cathay General Bancorp (CATY).
Walmart (WMT) – Walmart has signed an agreement with clothing retailer Gap (GPS) to sell a new line of Gap branded housewares. The new products will go online on June 24th and will eventually be available at Walmart’s locations. The gap in the pre-market increased by 1.3%, while the Walmart shares hardly changed.
Vir Biotechnology (VIR) – The Food and Drug Administration issued an emergency use antibody treatment for Covid-19 developed by Vir and partner GlaxoSmithKline (GSK). The treatment is designed for patients aged 12 and over with mild to moderate cases of Covid-19. Vir rose 9.1% in the pre-market.
Working Day (WDAY) – The working day beat estimates by 14 cents per share on quarterly earnings of 87 cents per share. The turnover of the manufacturer of personal software is also highly valued. Despite the pace and an optimistic outlook, Workday shares fell 1.1% in the pre-market.