Lowe’s, Target, TJX and more


Check out the companies making headlines before the bell:

Lowe’s (LOW) – Lowe’s rose 1% in the premarket after it reported quarterly earnings of $4.67 per share, 9 cents above estimates. The home improvement retailer saw both revenue and comparable store sales come in below analyst forecasts but predicted full-year earnings would come in at the top end of its guidance range.

Target (TGT) – Target fell 3.3% in premarket trading after the retailer reported quarterly earnings of 39 cents per share, well short of the 72-cent consensus estimate. Target’s revenue matched estimates, but it cut prices significantly during the quarter to reduce excess inventory. Target said the 1.2% operating margin rate during the second quarter would improve to about 6% in the back half of the year.

TJX (TJX) – The parent of the T.J. Maxx and Marshalls retail chains beat estimates by 3 cents with a quarterly profit of 69 cents per share, but revenue and comparable store sales came in less than expected. TJX cut its full-year forecast as well, saying inflation impacted the spending habits of its customers, and the stock fell 1.2% in the premarket.

Krispy Kreme (DNUT) – Krispy Kreme tumbled 14.7% in premarket action after the doughnut chain reported lower-than-expected profit and revenue for the second quarter. Krispy Kreme said it is seeing significant deceleration in commodity costs in recent weeks.

Manchester United (MANU) – Manchester United rose 4.6% in the premarket after Elon Musk tweeted that he was buying the British football team and then subsequently said he was joking.

Bed Bath & Beyond (BBBY) – Bed Bath & Beyond surged 22.8% in the pre-market after registering over 20% gains in each of the past three sessions. The retailer’s shares – which have been popular with “meme stock” investors, are up in 14 of the past 15 sessions, more than quadrupling in value over that stretch.

Agilent Technologies (A) – Agilent rallied 6.6% in premarket trading after the life sciences and diagnostics company reported better-than-expected quarterly profit and revenue. Agilent also raised its full-year forecast on strong order flow.

Southwest Gas (SWX) – Southwest Gas rose 4.7% in premarket action after investor Carl Icahn raised his stake in the utility company to 8.7% from 7.6%.

Sanofi (SNY) – Sanofi shares slid 5.4% in premarket trading after the French drug maker halted development of breast cancer treatment amcenestrant. The halt came after a trial showed no signs that the drug was effective.

Read original article here

Denial of responsibility! Verve Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment