Best Buy, Dick’s, Abercrombie & Fitch and others
Check out the companies making headlines before the bell:
best buy (BBY) – Best Buy rebounded 7% in premarket after its third-quarter results beat analysts’ estimates. The electronics retailer also saw a smaller-than-expected drop in same-store sales. The discounts helped keep customer traffic to its stores, and Best Buy also raised its full-year guidance.
Dick Sporting Goods (DKS) – The sporting goods retailer reported better-than-expected third-quarter earnings and revenue and an unexpected increase in same-store sales. The company also raised its forecast for the full year. Dick’s initially jumped more than 7% in premarket trading before falling back into negative.
dollar tree (DLTR) – Dollar Tree fell 4.4% pre-market despite higher and lower sales for its latest quarter and better than expected same-store sales. The discount retailer forecasts full-year earnings in the lower half of its previous guidance range.
Abercrombie & Fitch (ANF) – Abercrombie & Fitch climbed 12.8% in premarket action after reporting unexpected quarterly profit and beating Street’s revenue forecast. The clothing retailer has seen an upsurge in demand for clothes, such as jeans and dresses, as consumers return to work and attend more social events.
Medtronic (MDT) – The medical device maker’s stock fell 3% in premarket trading after reporting a slight decline in earnings on revenue below the consensus estimate. Medtronic’s results were hit by a stronger US dollar and a slower-than-expected rebound in procedures using its devices.
Focus on video communications (ZM) – Zoom fell 9.3% in premarket after posting weaker-than-expected guidance for the current quarter. The video communications company reported better-than-expected results for its latest quarter, but overall growth seen during the pandemic has slowed significantly.
Dell Technologies (DELL) – Dell fell 1.6% in premarket trading amid weaker-than-expected current-quarter revenue expectations. Dell beat analysts’ estimates for the third quarter, but said a slowing economy, inflation and other economic factors would put pressure on customer spending.
Urban outfitters (URBN) – Urban Outfitters reported quarterly profits slightly below estimates, but the clothing retailer’s revenue beat Street’s forecast. The company said it was encouraged by the trends seen so far in the holiday quarter. Urban Outfitters gained 2.2% in premarket stock.
AgilentTechnologies (A) – Agilent jumped 4.4% in after-hours trading after the lab instrument maker reported better-than-expected quarterly results. Agilent’s sales increased across all of its business units during the quarter.