by See the companies that make headlines before the bell:
Macy’s (M) – Macy’s rose 15% in premarket after reporting better-than-expected earnings and revenue for the first quarter and raising earnings forecasts for the full year. The results were boosted by strong demand for clothing as people returned to work and other activities outside the home.
Dollar General (DG) – Dollar General shares rallied 10.1% in preliminary trading as quarterly results exceeded Wall Street forecasts and comparable store sales fell less than expected. Dollar General also boosted its in-store sales forecast as more shoppers turned to discount stores amid rising inflation.
Dollar Tree (DLTR) – Like its Dollar General competitor, Dollar Tree reported better-than-expected top-and-bottom results for the last quarter, with sales in comparable stores doubling Street forecasts. The Dollar Tree rose 12.3% in pre-market trading.
Twitter (TWTR) – Twitter shares rose 5.6% in the premarket, after the news that Elon Musk will commit more than his own wealth to finance the $ 44 billion acquisition agreement of the company. An SEC report showed that Musk had $ 33.5 billion in equity, up from $ 27.25 billion a year earlier.
Medtronic (MDT) – The latest quarterly results from the medical device maker fell short of analysts’ estimates as it felt the impact of global supply chain problems. Medtronic fell 3.3% in premarket.
Alibaba (BABA) – The latest quarterly earnings and revenue of the China-based e-commerce giant exceeded analysts’ estimates, helped by increased online demand amid a lockdown in China Covid-19. Alibaba shares added 4.5% to pre-market action.
Baidu (BIDU) – Baidu jumped 5.6% in pre-market trading as the search engine giant surpassed estimates in the last quarter despite the negative impact of Covid lockdowns in China. Baidu recorded strong growth during the quarter for cloud-based services.
Nvidia (NVDA) – Nvidia fell 4.2% in the preliminary market after the graphics chip maker issued weaker-than-expected guidance for the current quarter, indicating supply chain problems and slower business activity in Russia. Nvidia showed better-than-expected earnings and revenue for the last quarter.
Williams-Sonoma (WSM) – Williams-Sonoma jumped 8.2% in pre-market trading, after a quarterly drop in earnings and a comparable increase in sales that more than tripled consensus estimates. The home furniture retailer repeated its previous instructions for the whole year and – unlike many other retailers – expects profit margins to remain stable.
Snowflake (SNOW) – Snowflake reported better-than-expected earnings for the last quarter, but cloud data platform provider said some of its customers were spending more cautiously due to an uncertain macroeconomic environment. As a result, shares fell 13.3% in pre-market traffic.
Nutanix (NTNX) – Nutanix shares plunged 35.4% in preliminary trading after cloud computing company released a weaker-than-expected forecast. Nutanix cited supply chain issues affecting its hardware partners, among others.
