Macy’s, Twitter, Medtronic and more
Check the companies that make headlines before the bell:
Macy’s (M) – Macy’s rose 15% in the advance market after reporting better-than-expected first-quarter profits and earnings and raising its full-year earnings forecast. The results were boosted by strong demand for clothing when people returned to work and other activities outside the home.
Dollar General (DG) – Dollar General shares rose 10.1% in pre-market trading after quarterly results beat Wall Street̵[ads1]7;s forecasts, and sales in similar stores fell less than expected. Dollar General also increased its sales forecast for the same store as more buyers turn to discount stores in the midst of high inflation.
Dollar Tree (DLTR) – Like competitor Dollar General, Dollar Tree reported better-than-expected top- and bottom-line results for the past quarter, with sales in comparable stores doubling Street forecasts. Dollar Tree rose 12.3% in pre-market trading.
Twitter (TWTR) – Twitter shares rose 5.6% in the advance market, following the news that Elon Musk will commit to more of its own fortune to finance its $ 44 billion takeover deal for the company. An SEC file showed that Musk committed $ 33.5 billion in equity, up from the previous $ 27.25 billion.
Medtronic (MDT) – The medical device manufacturer’s latest quarterly results were worse than analyst estimates as they felt the impact of global supply chain problems. Medtronic fell 3.3% in the advance market.
Alibaba (BABA) – The China-based e-commerce giant’s latest quarterly revenue and earnings beat analyst estimates, helped by increased online demand amid China’s Covid-19 shutdown. Alibaba shares increased by 4.5% in premarket action.
Baidu (BIDU) – Baidu jumped 5.6% in pre-market trading, as the search engine giant beat the estimates in its last quarter despite a negative impact from Covid shutdowns in China. Baidu saw strong growth during the quarter for its cloud-based services.
Nvidia (NVDA) – Nvidia fell 4.2% in the advance market after the graphics chip maker provided weaker-than-expected guidance for its current quarter, pointing to supply chain problems and slower operations in Russia. Nvidia reported profits and revenues that were better than expected for its last quarter.
Williams-Sonoma (WSM) – Williams-Sonoma jumped 8.2% in pre-market trading, after quarterly earnings and sales and a comparable sales increase that more than tripled the consensus estimates. The home furnishing retailer repeated its previous year-round guidance and – unlike many other retailers – expects profit margins to remain stable.
Snowflake (SNOW) – Snowflake reported better-than-expected earnings and revenue for its most recent quarter, but the provider of cloud data platforms said some customers are using it more cautiously due to an uncertain macroeconomic environment. As a result, the shares fell 13.3% in premarket action.
Nutanix (NTNX) – The Nutanix share plunged 35.4% in pre-market trading after the cloud computing company gave a weaker forecast than expected. Nutanix cited, among other things, supply chain problems that affected their hardware partners.
