Check out some of the biggest manufacturers in the pre-market:
Tesla (TSLA) – Shares fell 1.2% in pre-market trading after CEO Elon Musk challenged the United Auto Workers union to try to set up his company’s assembly plant in Fremont, California.
Sweetgreen (SG) – Shares of Sweetgreen jumped 19.9% in pre-market trading after the salad chain saw strong sales growth in its first quarterly report since its release in November. The company also reported growing losses.
Gap (GPS) – Shares rose 7% in pre-market trading after the retailer reported less-than-expected fourth-quarter loss and issued strong earnings guidelines. Gap reported a loss of 2 cents per share, compared to the forecast of 14 cents by analysts at Refinitiv. Revenues also exceeded forecasts.
Costco Wholesale (COST) – Retail stock withdrew 2% after a better-than-expected quarterly report. Costco reported second-quarter fiscal earnings of $ 2.92 per share on revenue of $ 51.9 billion. Analysts polled by Refinitiv expected a profit of $ 2.74 with revenue of $ 51.47 billion.
Marvell Technology (MRVL) – Shares fell 2.3% despite a slight decline in earnings. Marvell reported fourth-quarter earnings of 50 cents a share, excluding items, on revenue of $ 1.34 billion. Analysts had expected earnings of 48 cents per share on revenue of $ 1.32 billion, according to Refinitv.
Broadcom (AVGO) – Chip availability rose more than 3% before the market after Broadcom exceeded Wall Street expectations for its first fiscal quarter. The company reported adjusted earnings of $ 8.39 per share, while analysts surveyed by Refinitiv were looking for $ 8.08 per share. The company’s revenue guidelines for the second quarter were also above expectations.
Best Buy (BBY) – Retail shares fell 2% in early morning trading after Raymond James downgraded Best Buy to market performance from exceeding. “We’re putting our stock recommendation on hold for now,” said Raymond James.