Check out some of the biggest manufacturers in the pre-market:
Target (TGT) – Shares of the big retailer rose 11% in pre-market trade after Target said it expects growth to continue even after the gains of the pandemic era. Target posted adjusted fourth-quarter earnings of $ 3.19 per share on revenue of $ 31 billion. Analysts polled by Refinitiv expected earnings of $ 2.86 per share on revenue of $ 31.39 billion.
Kohl’s (KSS) – Kohl’s shares rose more than 5% on the market after the company gave optimistic guidance for the financial year 2022. The retailer exceeded expectations for profits in the fourth quarter, but missed the consensus assessment of Refinitiv’s sales.
AutoZone (AZO) – AutoZone shares gained 3.6% early in the morning after a better-than-expected earnings report. The company reported second-quarter earnings of $ 22.30 per share on revenue of $ 3.37 billion. Analysts polled by Refinitiv expected earnings of $ 17.79 per share on revenue of $ 3.17 billion.
Kroger (KR) – Kroger shares rose more than 2% in the pre-market after Telsey renewed its grocery chain before its earnings report. “We believe we have greater visibility and confidence in Kroger’s multi-channel multi-channel growth track,” said Joseph Feldman of Telsey.
Foot Locker (Florida) – Foot Locker shares fell 3% in pre-market trading after Goldman Sachs became the newest Wall Street company to downgrade the retailer after a disappointing update on Friday. Barclays and B. Riley also downgraded Foot Locker on Tuesday.
Workday (WDAY) – Workday shares rose more than 7% in pre-market trading after the software company exceeded expectations for its quarterly results. The company reported earnings of 78 cents per share, exceeding Refinitiv’s estimate of 71 cents per share. Revenues also exceeded forecasts.
HP Inc. (HPQ) – HP shares fell 2% in pre-market trading even after falling profits. The company posted an adjusted earnings of $ 1.10 per share compared to Refinitiv’s estimate of $ 1.02 per share. Sales also exceeded expectations.
Lucid Group (LCID) – Shares of Lucid Group fell more than 12% in pre-marketing after a disappointing quarterly report. The electric vehicle manufacturer reported a larger-than-expected loss of 64 cents per share compared to Refinitiv’s consensus estimate of a loss of 25 cents per share. Revenues also exceeded expectations.
Zoom Video (ZM) – Zoom shares lost 2.5% in pre-market trading after the video conferencing platform issued year-round guidelines below analysts’ forecasts. The company exceeded expectations for profits and revenues.
Novavax (NVAX) – Novavax shares fell 6.6% before the market after the company missed the top and bottom of its quarterly report. Novavax reported a loss of $ 11.18 per share on revenue of $ 222.2 million.