Check out the companies that make the headlines before the doorbell rings:
Big Lots (BIG) – The discount trader’s shares fell 9.5% in early trading after missing top and bottom results estimates for the last quarter. Big Lots earned $ 1.09 per share, 3 cents below analyst forecasts, and comparable store sales plummeted 13.2% more than expected. The company also said it was hit by supply chain issues and inflationary pressures.
Hibbett Sports (HIBB) – The sportswear retailer rose 6.1% in premarket after reporting better-than-expected sales and earnings for its final quarter and increasing its full-year forecast. Hibbett earned $ 2.86 per share, nearly double the consensus estimate of $ 1.44.
Peloton (PTON) – Peloton lost 8.1% in the premarket after posting an unexpectedly large loss. The fitness equipment maker lost $ 1.05 per share last quarter, compared to an estimate of 45 cents. Paid digital subscriptions also fell short of estimates. In addition, Peloton said in an SEC filing that it had been subpoenaed by the government on infringement documents related to its products.
Gap (GPS) – Gap reported adjusted quarterly earnings of 70 cents per share, beating the consensus estimate of 46 cents, and the clothing retailer’s sales were also above Wall Street forecasts. Gap also raised its guidance for the full year, largely due to the strength of its Old Navy and Athleta brands. The share gained 8.5% in pre-trading.
Apple (AAPL) – Apple has reached an agreement with smaller developers that extends a commission cut by three years and allows them to educate consumers about alternative payment schemes for Apple’s App Store.
HP Inc. (HPQ) – HP Inc. beat estimates by 16 cents with adjusted quarterly earnings of $ 1.00 per share, despite sales below analyst forecasts. The personal computer and printer maker saw global chip shortages affecting its ability to meet demand, and the company said it sells anything it can produce. HP lost 4.6% in premarket promotions.
Dell Technologies (DELL) – Dell reported adjusted quarterly earnings of $ 2.24 per share, 21 cents above estimates, with revenue also beating analyst forecasts. Dell benefited from the continuing boom in demand for PCs and successfully overcame supply chain challenges. However, the share lost 1.8% before the trading day.
Workday (WDAY) – Workday made an adjusted $ 1.23 per share last quarter, with the cloud-based HR and finance software provider also reporting better-than-expected revenue. Subscription sales increased more than 23% year over year. Workday shares rose 7.2% in pre-trading hours.
Marvell Technology (MRVL) – Marvell was 3 cents above estimates with adjusted quarterly earnings of 34 cents per share. However, the chipmaker’s revenue was only in line with Street’s projections, and the cost of goods sold increased year over year. The share lost 3.6% in the pre-trading period.
Ollie’s Bargain Outlet (OLLI) – Ollie’s tumbled 13.3% in pre-market trading after falling 3 cents below Wall Street projections with adjusted quarterly earnings of 52 cents per share. The sales of the discounter also lagged, with the comparable store sales falling by 28% compared to the previous year.
Johnson & Johnson (JNJ) – J&J is allowed to segregate its talc-related liabilities from the rest of its business after a judge declined to prohibit the company from doing so. Personal injury attorneys tried to prevent the move, fearing that thousands of claims could go bankrupt.
VMWare (VMW) – VMWare reported adjusted quarterly earnings of $ 1.75 per share, beating the consensus estimate of $ 1.64, while the enterprise software company’s revenue was slightly above Wall Street projections. However, sales in the cloud business fell short of some analysts’ predictions, and stocks fell 5.7% ahead of market launch.