Stocks making the biggest moves premarket: Walmart, Take-Two Interactive, Bath & Body Works and more
Check out the companies making headlines before the bell Thursday.
Walmart – Shares of the retail giant rose more than 1.5% in premarket trading after the company raised its full-year forecast and reported an almost 8% gain in sales for the fiscal first quarter, pointing to strength in its large grocery business that helped offset weaker sales in clothing and electronics. Walmart also reported stronger-than-expected adjusted earnings and revenue, according to Refinitiv.
Take-Two Interactive Software — The video game company surged 14% after posting better-than-expected revenue for its fiscal fourth quarter. Take-Two Interactive shared a weaker-than-expected outlook, but signaled that a strong future gaming slate could fuel strong growth thereafter.
Bath & Body Works — The retailer of body care and fragrance saw its stock surge nearly 10% in premarket after the company posted stronger-than-expected earnings and revenue for the latest quarter. Bath & Body Works also raised its full-year earnings guidance.
Boot Barn — The western footwear brand shed more than 13% before the bell. Boot Barn reported fiscal third-quarter revenue and guidance that fell short of Wall Street’s expectations.
Cisco Systems — Shares of Cisco Systems lost 4% after the company reported a 23% decline in orders for the fiscal third quarter.
Regional bank stocks — Shares of many hard-hit regional banks stocks rose before the bell, building on Wednesday’s gains. PacWest, Western Alliance and Zions Bancorporation gained 7%, 3.9% and 1.3%, respectively. The SPDR S&P Regional Banking ETF added more than 1%.
Alibaba — The Chinese e-commerce company lost 1% after posting mixed results for the recent quarter. Revenue fell short of Wall Street’s expectations. Alibaba also said it plans to list its cloud division.
Micron Technology — The memory chipmaker’s stock rose 2% on news that it plans to make a multibillion-dollar investment in Japan to foster dynamic random access memory chip production there.
Synopsys — Synopsys added 2% after reporting better-than-expected quarterly results. The software company also shared stronger-than-expected revenue and earnings growth guidance for the full year.
Sony — The stock added nearly 4% after the company announced it will begin assessing a partial spin-off of its financial services business. Sony would list shares of Sony Financial Group in about two to three years and still own about 20% of the business.
— CNBC’s Yun Li, Tanaya Macheel and Michelle Fox contributed reporting