Take a look at some of the biggest pre-market engines:
Best Buy (BBY) – Shares of the electronics retailer fell 10.4% in pre-release, after forecasting comparable sales for the holiday season well below Wall Street expectations as it faces possible product shortages. However, Best Buy posted quarterly earnings decline, with earnings of $ 2.08 per share, or 17 cents per share above estimates.
Zoom Video (ZM) – Zoom broke estimates by 2 cents per share, with quarterly earnings of $ 1.11 per share. Revenue also exceeded Street’s forecast and Zoom raised its forecast for the full year. The return of many workers to offices, however, is slowing sales growth, and the share has fallen 9.6% in pre-market trading.
Urban Outfitters (URBN) – Urban Outfitters gained 89 cents per share for its most recent quarter, 5 cents per share above estimates. The turnover is very slightly higher than analysts’ forecasts. However, the clothing retailer’s inventory is being hit hard, as the shift to more online sales increases costs for the company, and the stock has fallen 11.5% in the pre-market share.
Dick’s Sporting Goods (DKS) – The sporting goods retailer earned $ 3.19 per share for the third quarter, well above the consensus estimate of $ 1.97 per share. Revenue also beat expectations, and a 12.2% same-store sales increase was significantly better than StreetAccount’s consensus estimate of 1.9%. The stock added 1% to the pre-market stock.
Abercrombie & Fitch (ANF) – The clothing retailer broke estimates by 20 cents per share, with adjusted earnings of 86 cents per share. Revenue also exceeded expectations. Abercrombie’s profit margin fell 30 basis points. Its shares fell 3.8% in pre-market.
Dollar Tree (DLTR) – Dollar Tree matches estimates with quarterly earnings of 96 cents per share. The turnover of the discount retailer is slightly higher than estimated. Dollar Tree’s freight costs during the quarter were significantly higher than expected, and its stock fell 1.4% in pre-market trading.
Medtronic (MDT) – Medtronic had a mixed quarter, with revenues below Street’s expectations. Profit for the medical device maker topped plan by 3 cents per share, with earnings of $ 1.32 per share. Medtronic also lowered its outlook for the full year, citing the resurgence of Covid-19 and healthcare staffing issues.
JM Smucker (SJM) – The food producer reported quarterly profit of $ 2.43 per share, beating the consensus estimate of $ 2.05 per share. Revenue also exceeded expectations and Smucker raised its guidance for the full year amid strong consumer demand for its flagship brand as well as Jif, Folgers and Milk-Bone. Smucker grew 1.2% pre-market.
Xpeng (XPEV) – Xpeng jumped 3% in pre-market after the Chinese electric vehicle maker reported a larger-than-expected quarterly loss, but also saw revenue exceed estimates while putting out an optimistic outlook for the current quarter.
Agilent Technologies (A) – Agilent gained 3 cents per share ahead of Street’s forecast, with quarterly profit of $ 1.21 per share. The life sciences company revenue was as estimated. Agilent drew particular strength during the quarter from its diagnostics and genomics unit. The company also released an outlook that partially falls short of analysts’ estimates, causing the shares to drop 4.2% before the shares go to market.