Check out the companies that make the headlines before the doorbell rings:
Macy’s (M) – The retailer reported adjusted quarterly earnings of $ 1.29 per share, well above the consensus estimate of 19 cents, with sales also ahead of projections. Macy’s reported a better-than-expected increase in sales in similar stores, raised its annual sales forecast, and also announced a share buyback and reinstatement of its dividend. Before the IPO, the shares rose by 3.7%.
Kohl’s (KSS) – Kohl’s fell 2.6% in pre-listing measures despite quarterly results that beat analyst forecasts. Kohl’s reported adjusted quarterly earnings of $ 2.48 per share, well above the consensus estimate of $ 1.21.
Tapestry (TPR) – The company behind the Coach and Kate Spade brands beat estimates 5 cents with adjusted quarterly earnings of 74 cents per share and above-estimates sales as the reopening of economies around the world increased demand for luxury goods cranked. Tapestry also resumed its dividend, but shares fell 2.3% in pre-trading hours.
Petco (WOOF) – The pet products retailer beat estimates 5 cents with adjusted quarterly earnings of 25 cents per share and sales that also beat analyst projections. Petco has also raised its full year earnings and sales outlook.
BJ’s Wholesale (BJ) – The warehouse retailer beat estimates for sales and earnings for its final quarter, making an adjusted 82 cents per share for the second quarter, 17 cents above estimates. It also reported unexpected growth in sales in the same store.
Robinhood (HOOD) – Robinhood slumped 9.9% in the premarket after the company behind the popular trading app warned of a slowdown in trading activity this quarter. In its first report as a publicly traded company, Robinhood reported that its quarterly revenue was up 131% year over year, driven by an increase in cryptocurrency activity.
Cisco Systems (CSCO) – The network equipment and services company beat estimates 2 cents with adjusted quarterly earnings of 84 cents per share and revenue that was also above estimates. Cisco released a profit forecast for the current quarter that fell short of analysts’ guidance due to supply chain issues, and stocks lost 1.4% in pre-trading hours.
Bath & Body Works (BBWI) – The personal care retailer’s stock rose 2.7% in pre-market trading after hitting the Street forecast in its first quarterly report since L Brands spun off Victoria’s Secret and renamed Bath & Body Works. Body Works had surpassed.
Victoria’s Secret (VSCO) – The womenswear company’s shares plunged 8.6% ahead of its launch after reporting quarterly sales that fell short of analysts’ expectations. Victoria’s Secret saw an improvement in profit margins as stocks were kept tight and fewer promotions were conducted.
Nvidia (NVDA) – The graphics chip maker was 3 cents above estimates with adjusted quarterly earnings of $ 1.04 per share, while revenue also beat estimates. The Nvidia share gained 1.4% in the premarket after it had forecast better than expected sales for the current quarter.
Toyota Motor (TM) – The automaker’s stock fell 3.1% in pre-market trading after Japan’s Nikkei News service reported that Toyota would cut planned September production by 40% due to global chip shortages.
Wells Fargo (WFC) – The bank has reversed an earlier decision to discontinue revolving credit lines following complaints from customers. However, Wells Fargo will not be offering these lines of credit to new customers. The share lost 1.7% in the pre-trading period.
Red Robin Gourmet Burgers (RRGB) – The restaurant chain’s shares fell 9.4% in pre-trading hours after posting an unexpected quarterly loss and lower-than-expected sales. Red Robin said a labor shortage resulted in reduced hours in certain restaurants during the quarter.