Stocks making the biggest moves premarket: Macy’s, BJ’s Wholesale, Kohl’s and others
Check out the companies making headlines before the bell:
Macy’s (M) – Macy’s stock leaped 9.6% in the premarket after the retailer reported better-than-expected profit and revenue. Same-store sales fell less than expected and the company also raised its earnings outlook.
BJ’s Wholesale (BJ) – BJ’s added 2.4% in premarket trading after beating analyst forecasts on both the top and bottom lines for its latest quarter. The warehouse retailer also reported better-than-expected comparable store sales and raised its full-year forecast.
Kohl’s (KSS) – Kohl’s slid 3.8% in premarket action after it withdrew its financial forecast, citing various uncertainties including macroeconomic conditions and the departure of CEO Michelle Gass.
Alibaba (BABA) – The China-based e-commerce giant reported better-than-expected earnings but revenue fell short of analyst forecasts. The company also increased its share buyback program. Alibaba fell 1.8% in the premarket.
Nvidia (NVDA) – Nvidia rose 1.2% in the premarket following better-than-expected revenue for the third quarter and a number of analysts predicting a rebound in the spring of 2023. The company also missed bottom-line estimates for its latest quarter and issued a tepid sales forecast as demand for its video gaming chips wanes.
Cisco Systems (CSCO) – Cisco rallied 4.5% in off-hours trading after the networking equipment and software company reported better-than-expected quarterly results and issued an upbeat forecast. Cisco also said it would implement a “limited business restructuring.”
Bath & Body Works (BBWI) – Bath & Body Works shares surged 21.9% in the premarket after the personal goods retailer raised its full-year earnings forecast. CEO Sarah Nash said the company is pleased with its holiday season product assortment and it is focused on inventory and expense management.
Sonos (SONO) – Sonos jumped 3.3% in premarket action after the high-end speaker maker’s sales for the latest quarter exceeded analyst forecasts. Sonos also said supply chain issues have eased and it has sufficient inventory for the holiday shopping season.
Norwegian Cruise Line (NCLH) – The cruise line operator’s stock slid 5% in premarket trading after a double-downgrade from Credit Suisse to underperform from outperform, with the firm citing a number of factors including valuation.
