Business

Big Lots, Hibbett, Pinduoduo and others

Check out the companies that make headlines before the call:

Big Lots (BIG) – Shares of the discount retailer fell 21.2% in premarket trading after Wall Street missed quarterly earnings and revenue guidance. The company also reported a larger-than-expected drop in like-for-like sales and posted a cautious full-year outlook, saying inflationary pressures are dampening discretionary spending.

Hibbett (HIBB) – Shares of the sporting goods retailer fell 6.5% in premarket trading after analysts missed earnings and sales estimates for the latest quarter. Hibbett said its clients had less discretionary income than in the previous quarter, when stimulus payments helped boost spending.

Pinduoduo (PDD) — The Chinese e-commerce platform operator’s quarterly results came in better than expected as China’s Covid-19 lockdown measures helped boost online spending. Shares of Pinduoduo rose 8.8% in premarket trading.

Canopy Growth (CGC) – The cannabis maker posted larger-than-expected quarterly losses, with revenue also falling short of analysts’ forecasts. The company said it expects to become profitable on an adjusted basis in fiscal 2024. Canopy’s growth fell 10.5% in premarket trading.

Costco (COST) – Costco outperformed high and low estimates for the most recent quarter, but the warehouse retailer’s margins fell nearly 1 percentage point due to higher labor and shipping costs. Costco said it was raising the prices of certain food items to offset this increase. Its shares lost 1.3% in premarket trading.

Dell Technologies (DELL) – Shares of Dell rose 9.8% in premarket trading after higher-than-expected earnings and revenue for the latest quarter. The computer hardware manufacturer has benefited from a surge in business demand for desktop and laptop computers.

Gap (GPS) – Shares of Gap fell 17.8% before going public after the clothing retailer cut its full-year profit forecast and posted higher-than-expected quarterly losses. Gap’s results were impacted by higher shipping costs and higher discount levels.

Ulta Beauty (ULTA) – Shares of Ulta jumped 8.4% in premarket trading after the beauty retailer outperformed Street in its latest quarterly report and issued an upbeat outlook. Ulta was helped by high demand for beauty products.

American Eagle Outfitters (AEO) – American Eagle stock fell 13.4% in premarket trading after its quarterly earnings and revenue fell short of Wall Street estimates. Clothing retailer CEO Jay Schottenstein said the quarter was challenging as demand was well below the company’s expectations.

Red Robin Gourmet Burgers (RRGB) – Shares of the restaurant chain rose 12.9% in premarket trading after it reported smaller-than-expected quarterly losses and earnings that beat analysts’ forecasts. Red Robin has also updated its full-year merchandise cost forecast due to the impact of inflation.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button