Kohl’s, BJ’s Wholesale, Estee Lauder and more

Check out the companies making headlines before the bell:

Kohl’s (KSS) – Shares of Kohl’s fell 7.2% in premarket after the retailer cut its full-year guidance due to increased promotional activity and higher costs. Kohl’s latest quarter beat Street’s revenue and profit forecasts.

BJ’s Wholesale (BJ) – The warehouse retailer beat estimates by 26 cents with adjusted quarterly earnings of $1.06 per share and revenue also beat forecasts. Same-store sales rose more than expected, and the stock rose 5.4% in premarket trading.

Tapestry (TPR) – Tapestry fluctuated between gains and losses in the premarket stock after its earnings beat consensus despite selling slightly below expectations. The company behind luxury brands Coach and Kate Spade also increased its quarterly dividend by 20%.

Estee Lauder (EL) – Shares of Estee Lauder fell 1.3% pre-market after the cosmetics maker forecast annual sales below consensus, due to Covid-related lockdowns in China. Estee Lauder’s earnings and revenue for its latest quarter beat Wall Street estimates.

Canadian Solar (CSIQ) – The solar equipment and services company reported better-than-expected quarterly earnings and solar module shipments that were at the upper end of its previous guidance. Canadian Solar also raised its full-year revenue forecast and its stock jumped 6.2% in premarket trading.

Bath & Body Works (BBWI) – Bath & Body Works reported better-than-expected quarterly profit and revenue, but gave a forecast for the current quarter that was weaker than expected. The personal care retailer also said it cut 130 positions as it strives to control costs and become more efficient.

Cisco Systems (CSCO) – Cisco rose 5% in premarket trading after beating revenue and net income estimates for its latest quarter. The networking equipment maker also gave a stronger-than-expected outlook for the current quarter as supply chain issues ease.

Bed Bath & Beyond (BBBY) – Bed Bath & Beyond fell 14.4% premarket after investor Ryan Cohen filed a notice of intent to sell 7.78 million shares of the home goods retailer . Earlier purchases of Cohen’s call options had contributed to a buying spree in Bed Bath & Beyond, with the stock rising in 15 of the past 16 sessions and more than quintupling in value over that period.

Wolfspeed (WOLF) – Wolfspeed climbed 20.9% pre-market after the semiconductor company reported a loss and quarterly revenue below expectations, above consensus estimates. It also forecast a loss for the current quarter that is well below what analysts had anticipated.

DCP Midstream (DCP) – DCP Midstream added 1.7% in premarket trading after refiner Phillips 66 offered to buy the pipeline operator’s publicly held shares for $34.75 per share.

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