Stock Groups

Foot Locker, Deere, DoorDash and others

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Take a look at the top companies that made headlines long before the bell rang.

Foot Locker (FL) – The athletic footwear and apparel retailer reported an adjusted quarterly profit of $1.60 per share, 5 cents above estimates. Analysts expected a slight decrease in revenue and a decline of half the same-store sales. Foot Locker shares gained 1% on the premarket.

Deere (DE) – The heavy equipment maker’s stock fell 4.4% in premarket trading after quarterly revenue missed Street forecasts. Deere posted $6.81 per sen share and beat its earnings forecasts by 10cs. The increase in crop prices worldwide helped to spur demand. It also improved its annual profit outlook.

DoorDash (DASH) – Door Dash announced the authorization of a $400 million stock buyback program. According to the food delivery firm, this will compensate for dilution caused by its stock compensation program. Premarket, the stock gained 2.2%.

VF Corp. (VFC) – VF shares added 2.6% in premarket trading despite slight misses on the top and bottom lines for the latest quarter. Based on the expectation that no Covid-19 lockdowns will affect production or that inflation won’t worsen, North Face, Vans, and Timberland are apparel brands, this company raised its full year earnings outlook.

Deckers Outdoor (DECK) – Deckers surged 13.8% in the premarket after the footwear company beat top and bottom-line estimates for its latest quarter. Deckers posted net income of $2.51 per shareholder, which is more than twice the consensus estimate at $1.32.

Boeing (BA) – Boeing rose 2% in premarket action following the successful launch of its Starliner aircraft, which is now heading toward the International Space Station. Months of delays led to the successful launch of an uncrewed aircraft.

Ross Stores (ROST) – Ross Stores slumped 27.4% in the premarket after the discount retailer posted top and bottom-line misses for its latest quarter and gave a downbeat forecast. Ross Stores stated that inflationary pressures are being exacerbated due to the Ukraine conflict, and it is issuing cautious guidance because of uncertain macroeconomic conditions.

Palo Alto Networks (PANW) – Palo Alto Networks rallied 12.1% in premarket trading after the cybersecurity company reported better-than-expected profit and revenue for its latest quarter. The company also increased its guidance for full year for the third consecutive time.

Applied Materials (AMAT) – Shares of the semiconductor manufacturing equipment maker fell 1.2% in the premarket after missing top and bottom-line estimates for its latest quarter. Also, the forecast for next quarter was weaker than anticipated. The Covid-19 lockdowns by China have exacerbated supply chain problems for Applied Materials.

Ollie’s Bargain Outlet (OLLI) – The discount retailer’s shares jumped 6.4% in premarket trading after Bank of America Securities double-upgraded the stock to “buy” from “underperform.” BofA recommended that there be a significant increase in closeout merchandise supply due to retailer overordering and lower consumer spending on durable products.

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