Check out the companies that make the headlines before the doorbell rings:
Dick’s Sporting Goods (DKS) – The sporting goods retailer’s shares rose 4.9% ahead of the IPO as quarterly earnings beat estimates. The company also announced a special dividend of $ 5.50 per share and a 21% increase in the quarterly dividend. Dick’s earned an adjusted $ 5.08 per share last quarter, beating the consensus estimate of $ 2.80.
Johnson & Johnson (JNJ) – Johnson & Johnson said study data support the benefits of booster vaccination for recipients of its Covid-19 vaccine. The dose greatly increased antibody levels in two early-stage studies.
Express (EXPR) – The clothing retailer’s shares rose 4.1% in the premarket after the company reported an unexpected profit for its final quarter. Express made 2 cents per share compared to 30 cents per share projections, and revenue was also above analysts’ forecasts.
Shoe Carnival (SCVL) – The shoe retailer reported quarterly earnings of $ 1.54 per share, more than double the consensus estimate of 75 cents. Revenue also exceeded Wall Street forecasts, with like-for-like revenue up 11.4%. Shoe Carnival gained 1.2% in the premarket.
Cassava Biosciences (SAVA) – The biotechnology company said claims made online yesterday that challenged its scientific integrity are false and misleading. The topic revolved around study data for a treatment for Alzheimer’s disease. Cassava released a statement refuting each of the 15 claims the company calls “fiction”. Cassava fell 23.1% in the premarket.
Urban Outfitters (URBN) – Urban Outfitters earned $ 1.28 per share last quarter, beating the consensus estimate of 77 cents. The clothing retailer’s sales were also above forecasts. Urban Outfitters benefited from a significant increase in digital sales compared to pre-pandemic levels. However, the company also mentioned that it deals with supply chain issues, and its shares lost 4.7% in pre-trading.
Nordstrom (JWN) – Nordstrom slumped 11.3% in pre-trading after its quarterly report showed revenue for the final quarter was still below pre-pandemic levels. The department store operator topped the 27-cent estimate for its final quarter with earnings of 49 cents per share and sales above forecasts. Nordstrom has also raised its outlook for the full year.
Toll Brothers (TOL) – Toll Brothers reported quarterly earnings of $ 1.87 per share, 32 cents above consensus estimate, with the luxury home builder’s revenues largely in line with Wall Street projections. The overall low inventory levels in the housing market and low mortgage rates contributed to an increase in the company’s results. Toll Brothers gained 2.1% in the premarket business.
Intuit (INTU) – Intuit beat estimates 38 cents with adjusted quarterly earnings of $ 1.97 while revenue for the financial software company beat estimates. The maker of TurboTax also gave an optimistic outlook, increased its dividend and stepped up its share buyback program. The share gained 2.2% before the trading session.
Meme Stocks – So-called “meme” stocks remain on the alert after the rallies on late Tuesday. GameStop (GME), AMC Entertainment (AMC), Koss (KOSS), Robinhood (HOOD) and ContextLogic (WISH) rose despite a lack of news about one of these companies. Koss rose 4.2% in premarket, AMC rose 4.4% and Robinhood rose 1%.
Campbell Soup (CPB) – Campbell Soup has been downgraded from “overweight” to “neutral” at Piper Sandler, which indicates, among other things, rising raw material costs. Campbell shares lost 1.2% in pre-trading.