Stock Groups

Alibaba, JD.com, Cisco, Nvidia and more

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See which companies are making the headlines even before the bell rings.

Macy’s (M) – Macy’s surged 8% in the premarket after the retailer reported better-than-expected quarterly sales and profit, and raised its full-year outlook. Macy’s reported an adjusted $1.23 per stock for the quarter. This is well over the consensus 31-cent estimate. The raised forecast eases concerns about holiday inventory shortages.

BJ’s Wholesale (BJ) – The warehouse retailer beat estimates by 11 cents with adjusted quarterly earnings of 91 cents per share, while revenue and comparable-store sales also topped forecasts. BJ’s has also launched a stock buyback program that could be worth as much as $500 million.

Kohl’s (KSS) – Kohl’s rallied 6% in premarket trading as the retailer reported adjusted quarterly earnings of $1.65 per share compared with a consensus estimate of 64 cents. Kohl’s posted higher than expected revenue and sales in comparable stores, as well as raising its full year sales forecast.

Petco (WOOF) – The pet products retailer beat estimates by 2 cents with adjusted quarterly earnings of 20 cents per share and revenue also above estimates. Petco also saw comparable store sales rise above expectations, as well as an increase in its full-year outlook.

Alibaba (BABA) – The Chinese e-commerce giant slid 5% in premarket action after top- and bottom-line misses in its latest quarterly report. Alibaba attributes the decline in profits from last year to the declining value of its equity investments.

JD.com (JD) – JD.com beat estimates on both the top and bottom lines with the China-based e-commerce company continuing to benefit from sustained and elevated demand for online shopping. The premarket saw shares rise 1.4%.

Cisco Systems (CSCO) – Cisco tumbled 6.3% in premarket trading after forecasting current-quarter revenue below forecasts. Cisco, a networking equipment manufacturer is experiencing supply chain issues and other problems that are driving up its costs. Although Cisco reported better earnings than expected for the most recent quarter of its fiscal year, revenue fell slightly below Wall Street’s expectations.

Nvidia (NVDA) – Nvidia came in 6 cents above estimates with adjusted quarterly earnings of $1.17 per share, and the graphics chip maker saw revenue come in above forecasts as well. Nvidia’s high demand for data center and videogame chips is helping to boost its profits. Premarket, the stock rose 8.5%.

Sonos (SONO) – Sonos matched estimates in reporting a quarterly loss of 7 cents per share, but the maker of wireless home audio equipment saw revenue come in slightly below analyst projections. The stock gained 1.9% premarket, despite Sonos’s better than expected fiscal 2022 sales projection, despite supply issues that have been affecting its production.

Bath & Body Works (BBWI) – Bath & Body Works reported an adjusted quarterly profit of 92 cents per share, beating the 60 cents consensus estimate, while the personal care products retailer also saw revenue beat Wall Street forecasts. The quarterly report was the first for Bath & Body Works as a standalone company following the split-up of L Brands. In premarket trading, the stock rose 5%.

Victoria’s Secret (VSCO) – Victoria’s Secret shares surged 11.5% in premarket trading after the company beat estimates by 10 cents with adjusted quarterly earnings of 81 cents per share. Victoria’s Secret’s first quarterly report as an independent company was published. It is also part of L Brands’ split-up.

Deere (DE) – Deere workers approved a new six-year contract after rejecting two previous tentative deals, ending a strike that began October 14. The premarket saw Deere rise 1.4%.

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