Stocks moving the most before market: Petco, Brinker International, Nordstrom
Check out the companies making headlines before the bell:
Petco (WOOF) – The pet products retailer missed Street’s guidance for higher and lower numbers for its latest quarter, and cut its full-year outlook as it faced costs higher. Shares of Petco fell 5.3% premarket.
Brinker International (EAT) – The parent company of restaurant chains Chili’s and Maggiano’s saw its shares fall 8.1% in premarket trading after it missed quarterly profit estimates, hit by rising costs. It also released a full-year outlook that fell short of expectations.
Nordstrom (JWN) – Nordstrom shares fell 13.2% in premarket after the retailer cut its full-year outlook, saying foot traffic fell at the end of its latest quarter and it was working aggressively to reduce inventory levels. Nordstrom reported better-than-expected earnings and revenue for its second quarter.
Toll Brothers (TOL) – Toll Brothers fell 2.6% in premarket trading after the luxury homemaker cut its full-year shipment forecast due to supply chain issues and shortages labor. For its latest quarter, Toll Brothers reported better-than-expected earnings, but its revenue fell short of Street’s forecast.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond jumped 15.6% in premarket action after the Wall Street Journal reported the home goods retailer lined up financing to shore up cash.
Urban Outfitters (URBN) – Urban Outfitters fell 2.8% in premarket after the clothing retailer reported quarterly profit below expectations. Urban Outfitters saw improved sales in its stores as customer traffic increased, but also reported a decline in digital sales.
La-Z-Boy (LZB) – Shares of La-Z-Boy staged a 6.6% premarket rally after the furniture retailer reported a better-than-expected quarter and issued an upbeat outlook. He made cautious comments regarding the possible impact of macroeconomic uncertainty.
Advance Auto Parts (AAP) – Advance Auto Parts fell 6.5% in the pre-market after missing analysts’ estimates of higher and lower results for its latest quarter, as well as a lower outlook. The auto parts retailer said inflation and rising fuel costs had a negative effect on its DIY business in the quarter.
Intuit (INTU) – Intuit jumped 5.8% in premarket trading after beating Street’s forecast for quarterly profit and revenue and issuing an upbeat forecast. The financial software company also increased its quarterly dividend by 15% and increased its authorization to buy back shares.
Farfetch (FTCH) – The luxury e-commerce specialist’s stock jumped 15.9% pre-market, following its deal to buy 47.5% of Swiss online fashion retailer YNAP Richemont for over 50 million Farfetch shares.