Check out the companies that are trending in pre-market trading. Macy’s — The department store operator posted a profit of about 3% after beating first-quarter profit expectations and raising its full-year outlook. Macy’s touted its turnaround plan as a driver of strong results. Lowe’s — Home improvement store shares rose more than 2% after the company’s first-quarter results beat expectations. Lowe’s reported earnings per share of his $3.06 on revenue of $21.36 billion. Analysts surveyed by LSEG had expected earnings of $2.94 per share on revenue of $21.12 billion. AutoZone — The auto parts retailer’s stock fell more than 2% after third-quarter sales fell short of analysts’ expectations. AutoZone reported revenue of $4.24 billion, compared to the $4.29 billion expected by analysts surveyed by FactSet. The company’s third-quarter earnings per share were $36.69, beating expectations of $36.02. XPeng — Shares rose 5% after the Chinese electric car company beat expectations for first quarter sales and bottom line. XPeng also expects vehicle deliveries to increase by nearly 25% to 40% year over year in the second quarter. Cheers — Restaurant software company falls more than 2% after downgrade from Baird, with analyst David Corning arguing the stock may be overvalued after a 27% year-to-date rise did. Palo Alto Networks — Cybersecurity stocks fell nearly 7% after current quarter guidance met expectations and total claims were lower than expected. Li Auto — His Chinese EV company fell more than 3% after reporting disappointing first-quarter results. The company reported sales of 25.6 billion yuan, down 38.6% from the fourth quarter of 2023. Peloton — Shares fell 4% after the connected fitness company announced plans to begin a “global refinancing” process that includes issuing $275 million in convertible debt. The company will issue senior notes due in 2029 and enter into a $1 billion five-year term loan. It also plans to repurchase $800 million of existing debt. Peloton has been suffering from declining sales and recently announced restructuring plans. Keysight Technologies — The electronics testing and software company fell more than 2% after a weaker-than-expected outlook for the current quarter. Keysight currently expects non-GAAP earnings per share to be between $1.30 and $1.36 and revenue between $1.18 billion and $1.2 billion. Analysts polled by FactSet had expected sales of $1.45 per share and revenue of $1.21 billion. Lam Research — The semiconductor equipment maker soared 4.4% after Lam Research said its board of directors approved a $10 billion share buyback and a 1-for-1 stock split. GAP — Clothing retailer’s stock rises more than 2% after Citi begins active monitoring of the company, analyst Paul LeJuet predicts Gap’s first quarter forecast next week expressed the view that it is likely to exceed the Zoom Video — Shares fell nearly 3% even though the video conferencing company reported better-than-expected earnings and earnings in the first quarter. The video communications company reported earnings of $1.35 per share and revenue of $1.14 billion, compared to analyst estimates compiled by LSEG of earnings of $1.20 per share and revenue of $1.13 billion. Zoom also released a full-year earnings outlook that was broadly in line with that. — CNBC’s Michelle Fox, Sarah Ming and Jesse Pound contributed reporting
M, LOW, PTON, ZM etc.
Services
© 2024 Business Investopedia. All Rights Reserved.