Check the companies that make headlines before the bell:
Capri Holdings (CPRI) – The parent of luxury brands, such as Michael Kors, Versace and Jimmy Choo, saw their stock rise 11% in the advance market after posting better-than-expected quarterly figures before returning almost all of these gains. Capri earned an adjusted $ 1.02 per share, 20 cents above estimates, and managed to expand profit margins in the face of pandemic-related issues. However, the company gave a lower revenue forecast than expected for the full year.
HP Inc. (HPQ) ̵[ads1]1; HP beat estimates by 3 cents with an adjusted quarterly earnings of $ 1.08 per share. The computer and printer manufacturer’s revenues also topped Street forecasts. HP increased its profit prospects, taking advantage of strong commercial customer demand despite supply chain disruptions.
Salesforce (CRM) – Salesforce increased 9.1% in the advance market after beating analyst estimates by 4 cents with an adjusted quarterly earnings of 98 cents per share. The business software giant also beat the revenue forecasts and raised its year-round guide amid continued strong demand.
Victoria’s Secret (VSCO) – Victoria’s Secret jumped 6.8% in pre-market trading despite a mixed quarter. The intimate clothing retailer’s adjusted earnings of $ 1.11 per share for the last quarter beat the consensus estimate at 84 cents, and earnings were in line with forecasts. The earnings guidance for the current quarter fell below some forecasts. The company was able to eliminate the bottom line of supply chain problems and curb consumption costs.
Weibo (WB) – The China-based social media company reported better-than-expected earnings and revenue for its last quarter. The company added users and called its advertising business “relatively robust” in the face of the country’s Covid shutdowns. Weibo jumped 5.5% in premarket action.
Ambarella (AMBA) – Ambarella fell 3.8% in pre-market trading after the chip maker issued a revenue forecast for the current quarter under analyst estimates, due to the negative effect of China’s Covid shutdowns. Ambarella laid out a top and bottom line for its final quarter.
ChargePoint Holdings (CHPT) – ChargePoint’s adjusted loss for the last quarter was 21 cents per share, 2 cents more than analysts expected. The network operator for charging networks for electric cars topped the forecasts. ChargePoint also issued a lighter-than-expected revenue guide for the current quarter and full year, as it addresses global supply constraints. The stock fell 2.3% in premarket action.
Li Auto (LI) – The China-based electric car manufacturer delivered 11,496 cars in May, up 166% from the previous year. Li shares increased by 2% in the advance market.
Nine (NIO) – Nio delivered 7,024 vehicles in May, an increase of 4.7% from the previous year. The China-based electric car maker also said vehicle deliveries are up 11.8% for 2022 compared to the first five months of 2021. Nine rose 1.6% in pre-market trade.
Xpeng (XPEV) – Xpeng delivered 10,125 electric vehicles last month, 78% more than a year ago, with year-to-date deliveries more than doubling compared to the previous year. The China-based company’s shares increased by 1.3% in the pre-market.