See which companies are trending in premarket trading.
Macy’s — The department store operator gained roughly 3% after exceeding first-quarter earnings estimates and upgrading its outlook for the entire year. The company attributed the strong performance to its turnaround plan.
Little’s – The company’s first-quarter earnings exceeded expectations, and the home improvement stock increased by more than 2%. With $21.36 billion in revenue, Lowe’s produced $3.06 earnings per share. In a survey conducted by LSEG, analysts projected $2.94 in earnings per share on $21.12 billion in revenue.
AutoZone: After its third-quarter revenue fell short of analyst expectations, the stock of the retailer of automotive parts fell more than 2%. While FactSet’s poll of analysts predicted $4.29 billion in revenue, AutoZone reported $4.24 billion. The business’s $36.69 per share fiscal third-quarter earnings beat $36.02 analysts had predicted.
XPeng: After exceeding both top and bottom line first-quarter projections, the Chinese electric car company’s shares increased by 5%. Additionally, XPeng projects that in the second quarter, car deliveries will rise by 25% to almost 40% year over year.
Toast: After receiving a downgrade from Baird, the restaurant software company saw a decrease of more than 2%. Analyst David Koning stated that the stock might be overpriced given its 27% year-to-date increase.
PALOO ADVANCED Networks After overall billings fell short of expectations and outlook for the upcoming quarter was in line with estimates, the cybersecurity stock fell by almost 7%.
Li Auto-— Following the release of unimpressive first-quarter statistics, the Chinese electric vehicle company saw a more than 3% decrease. Revenue for the company came in at 25.6 billion yuan, down 38.6% from the same period in 2023.
— Peloton Following the announcement by the connected fitness firm that it will begin a “global refinancing” process that would involve a $1 billion five-year term loan and the issuance of $275 million in convertible senior notes due in 2029, shares slumped 4%.
Keysight Technologies: After releasing a lower-than-expected projection for the current quarter, the electronics testing and software company saw a more than 2% decline. Keysight now projects non-GAAP profits per share on revenue ranging from $1.18 billion to $1.2 billion to be between $1.30 and $1.36. FactSet polled analysts, who predicted $1.21 billion in sales and $1.45 per share.
Lam Research: Following news that its board of directors had approved a $10 billion share buyback and a 10-for-1 stock split, the maker of semiconductor equipment saw a 4.4% increase in stock price.
Gap: The clothes retailer’s stock surged more than 2% following Citi’s initiation of a positive catalyst watch on the business.
Zoom Video: Despite the video conferencing company’s first-quarter results and revenue exceeding expectations, its shares fell by over 3%.
Source (CNBC)
