Tuesday Oct 04, 2022

Stocks making the biggest moves premarket: Deere, Foot Locker, Bed Bath & Beyond and more – CNBC

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Check out the companies making headlines before the bell:

Deere (DE) – Deere slid 5.2% in premarket trading after the heavy equipment maker missed quarterly earnings estimates despite higher-than-expected sales. Deere earned $6.16 per share, below the consensus estimate of $6.69, as it successfully implemented price hikes but also faced higher costs. The company also cut its full-year forecast.

Foot Locker (FL) – Foot Locker surged 17.4% in the premarket after the athletic footwear and apparel retailer’s quarterly earnings beat analyst forecasts, and the company also announced a CEO transition. Former Ulta Beauty (ULTA) CEO Mary Dillon will replace Richard Johnson as CEO on Sept. 1.

Bed Bath & Beyond (BBBY) – Bed Bath & Beyond plunged 42.7% in premarket trading following news that investor Ryan Cohen had sold his entire stake in the housewares retailer, garnering a profit of more than $58 million.

Ross Stores (ROST) – Ross Stores reported better-than-expected earnings for its latest quarter, but its revenue was below Wall Street forecasts, and the company issued a weaker than expected full-year outlook. The company said its results were impacted by higher costs as well as increased promotional activity. The stock fell 1% in premarket action.

Applied Materials (AMAT) – Applied Materials beat estimates by 15 cents with adjusted quarterly profit of $1.94 per share, and the maker of semiconductor manufacturing equipment saw revenue top forecasts as well. It also gave an upbeat current quarter revenue forecast as chipmakers increase production.

Coinbase (COIN) – The crypto exchange operator’s stock slid 8.6% in premarket trading, falling in sympathy with the sudden overnight drop in bitcoin prices. Microstrategy (MSTR), the business analytics company with extensive bitcoin holdings, saw its stock fall 9.3%.

Home Depot (HD) – Home Depot announced a new $15 billion share repurchase program, replacing a prior authorization. The home improvement retailer also announced that CEO Ted Decker will replace former CEO Craig Menear as chairman, effective October 1.

Madison Square Garden Entertainment (MSGE) – Madison Square Garden Entertainment rallied 7.3% in the premarket following news that its board is mulling a spin-off that would contain the company’s live entertainment and MSG Networks businesses.

Bill.com (BILL) – Bill.com surged 18.5% in premarket trading after the financial back-office software provider reported better-than-expected quarterly results and issued upbeat guidance.

Source: https://www.cnbc.com/2022/08/19/stocks-making-the-biggest-moves-premarket-deere-foot-locker-bed-bath-beyond-and-more.html

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