Stocks making the biggest moves premarket: Foot Locker, JD.com, Gap and others
Check out the companies making headlines before the bell:
Foot Locker (FL) – Foot Locker shares soared 14% in the premarket after beating top and bottom line estimates for its latest quarter. The apparel and footwear retailer also raised its full-year forecast and reported an unexpected rise in comparable store sales.
JD.com (JD) – The China-based e-commerce company reported better-than-expected quarterly results as Covid-related lockdowns in China prompted more consumers to shop online. JD.com shares jumped 5.2% in premarket trading.
Gap (GPS) – Gap shares rallied 5.1% in premarket trading after an unexpected return to profitability and better-than-expected sales. The apparel retailer is in the midst of a turnaround effort that has involved scaling down inventories and streamlining its brand portfolio.
Williams-Sonoma (WSM) – Williams-Sonoma slumped 8.1% in the premarket after the housewares retailer said it would not reiterate or update its outlook through fiscal 2024 due to economic uncertainty. Williams-Sonoma reported better-than-expected sales and profit for its latest quarter.
Ross Stores (ROST) – The discount retailer’s shares soared 16.9% in premarket trading after reporting better-than-expected quarterly results and an increased forecast, even in the face of higher prices and holiday season promotions.
Palo Alto Networks (PANW) – Palo Alto surged 9.2% in premarket action after it beat Wall Street’s top and bottom line estimates for the latest quarter. The cybersecurity company also issued slightly improved guidance as companies increase spending on network security.
Applied Materials (AMAT) – Applied Materials beat top and bottom line estimates for its latest quarter and the maker of semiconductor manufacturing equipment also issued upbeat current quarter guidance. Shares gained 4.4% in the premarket.
Farfetch (FTCH) – Farfetch reported a wider-than-expected quarterly loss with sales that also came in below analyst forecasts. The online luxury platform operator’s stock slumped 9.7% in off-hours trading.
