Take a look at some of the biggest moves in the premarket:
Zoom Video Communications ( ZM ) – Zoom fell 11.5% in the premarket after the video conferencing company cut its full-year forecast. Zoom reported better-than-expected earnings for the latest quarter, but revenue fell short of forecasts. Zoom’s CFO said the company is having some trouble attracting new paying subscribers, though he added that enterprise sales are strong.
Palo Alto Networks (PANW) ̵[ads1]2; Palo Alto surged 9.3% in premarket trading after the cybersecurity company reported better-than-expected quarterly results and issued an upbeat forecast. Palo Alto also announced that its board had approved a 3-for-1 stock split.
Macy’s ( M ) — The retailer’s shares rose 2.5% in premarket trading after it beat second-quarter sales and earnings forecasts and comparable-store sales fell less than expected. However, Macy’s lowered its full-year guidance to include risks from a slowing economy.
Dick’s Sporting Goods ( DKS ) — The sporting goods retailer beat top- and bottom-line estimates for the second quarter and raised its full-year forecast. Comparable store sales fell 5.1% during the quarter, but that was less than the 6.9% decline expected by analysts. The share rose 2.3% in the premarket.
Medtronic ( MDT ) – Medtronic rose 1% in the premarket after reporting quarterly profit and revenue that beat analysts’ forecasts. Revenue fell from a year ago as the medical products maker was affected by supply chain challenges.
JD.com ( JD ) – The China-based e-commerce company reported better-than-expected quarterly results and saw a 9.2% increase in active customer accounts. JD.com jumped 4.3% in premarket action.
Warner Bros. Discovery (WBD) – Nearly 10 million viewers watched the “Game of Thrones” prequel “House of the Dragon” on the company’s HBO Max service, a record for an HBO series debut. Warner Bros. Discovery rose 1.4% in the premarket.
JM Smucker (SJM) — The food maker’s shares rose 1.8% in premarket trading after it reported better-than-expected quarterly earnings and raised its full-year outlook.
XPeng (XPEV) – XPeng fell 4.9% in premarket action after the China-based electric car maker reported a wider-than-expected quarterly loss, although revenue beat analysts’ forecasts as total shipments nearly doubled from a year earlier.
Pinduoduo (PDD) – Pinduoduo plans to launch an international e-commerce platform next month, according to a source with direct knowledge of the matter who spoke to Reuters. Pinduoduo rose 2.6% in pre-market trading.