Business

Deere, Gap, Nordstrom, VMware, HP and more




Check the companies that make headlines before the bell:

Deere & Co. (DE) – The agricultural equipment manufacturer reported quarterly earnings of $ 4.12 per share, beating the consensus estimate of $ 3.90, although earnings fell slightly below analysts’ forecasts. Deere said solid demand for their products helped dampen the effects of a month-long labor strike. Deere rose 3.7% in the advance market.

Nordstrom (JWN) – Nordstrom fell 25% in pre-market trading after reporting earnings of 39 cents per share for the last quarter, excluding the consensus estimate of 56 cents. The dealer was hurt by rising labor costs and stock problems and said that inventories were particularly short in women̵[ads1]7;s clothing and shoes, where demand recovered more strongly than expected.

Gap (GPS) – Gap reported an adjusted quarterly result of 27 cents per share, well below the 50 cents analysts had expected, and also cut the full-year forecast. The clothing retailer has been hit by higher shipping costs, as well as expanded factory closures in Vietnam where it picks up around 30% of its products. Gap plunged 20% in pre-market trading.

Booking Holdings (BKNG) – The parent of Priceline and other online travel services buys Swedish travel agency Etraveli from private equity firm CVC Capital for $ 1.83 billion.

VMware (VMW) – VMware beat forecasts by 18 cents with adjusted quarterly earnings of $ 1.72 per share. The software company also provided an optimistic forecast for the current quarter amid growing global demand for cloud computing services. Nevertheless, the stock fell 2.6% before the market.

HP Inc. (HPQ) – HP Inc. came in 6 cents above consensus with an adjusted quarterly profit of 94 cents per share, with the data maker also offering strong prospects as consumer and corporate demand for personal computers and printers remains robust. HP jumped 5.6% in pre-market trading.

Dell Technologies (DELL) – Dell reported adjusted quarterly earnings of $ 2.37 per share, beating the consensus estimate of $ 2.18, and Dell saw strong demand for its personal computers and servers. Dell also posted a stronger-than-expected forecast for the current quarter. Dell increased by around 2% in the advance market.

Pure Storage (PSTG) – Pure Storage increased by 11.1% in pre-market trading after beating estimates by 10 cents with an adjusted quarterly profit of 22 cents per share. The manufacturer of flash-based storage systems also provided better-than-expected revenue prospects for the current quarter.

Chevron (CVX) – The energy producer was upgraded to “outperform” from “sector performance” at RBC Capital Markets, which said that Chevron has a relatively stable portfolio compared to its industry peers.

Jack In The Box (JACK) – The restaurant chain’s shares were downgraded to “hold” from “buy” at Stifel Financial, which points to a number of factors, including weak comparable restaurant sales. Jack In The Box fell 3% in the advance market.



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