Finance News

Shares with the largest worth strikes forward of the market: Chewy, Lululemon, Past Meat, Peloton & extra

Before the doorbell rings, check out the companies that are making the headlines:

Chewy (CHWY) – The online pet products retailer stock plunged 10% in the premarket after posting an unexpectedly high quarterly loss. Revenue was in line with Street forecasts, but profits were impacted by higher staffing costs and supply chain issues.

Lululemon (LULU) – The sportswear maker reported adjusted quarterly earnings of $ 1.62 per share, 21 cents above estimates, with revenue also slightly above forecast. However, Lululemon also warned that new Covid-19 flavors could hurt demand for “athleisure” apparel if virus concerns lead to temporary store closures and other problems in the supply chain. The share lost 1.5% before the market.

Broadcom (AVGO) – The chipmaker's stocks rose nearly 7% in pre-trading hours after beating Street forecasts for last quarter's revenue and earnings. Broadcom made an adjusted $ 7.81 per share, 7 cents above estimates, and was also optimistic about continued high demand from its cloud computing customers.

Costco (COST) – The warehouse retailer earned $ 2.98 per share last quarter, compared to a consensus estimate of $ 2.64, with sales also beating Street forecasts. The blow came despite higher costs and supply chain problems, which Costco claims to have largely mitigated. Costco rose 1.8% in the premarket.

Oracle (ORCL) – Oracle shares rose 12% premarket after quarterly sales and earnings hit estimates and the enterprise software company announced a $ 10 billion increase in its share buyback program. Oracle made an adjusted $ 1.21 per share, 10 cents above estimates, with particular strength for its cloud infrastructure business.

Beyond Meat (BYND) – Restaurant chain Taco Bell has given up plans to try Beyond Meat's plant-based version of Carne Asada, according to a Bloomberg report. Taco Bell is said to have been dissatisfied with the samples received in October, although the companies are still working on new products. Beyond Meat lost 1.6% in pre-trading.

C3Ai (AI) – The artificial intelligence software company rose 20% in the premarket after winning a $ 500 million contract from the US Department of Defense for its AI product suite.

American Outdoor Brands (AOUT) – The manufacturer of outdoor products reported adjusted quarterly earnings of 58 cents per share, well below the consensus estimate of 76 cents, with sales also falling short of analyst forecasts. The company said sales slowed due to a shift in the timing of customer purchases to the previous quarter to alleviate supply chain concerns. American Outdoor shares fell 19% ahead of its launch.

Vail Resorts (MTN) – The resort operator lost $ 3.44 per share in the most recent quarter, less than analysts' forecasted loss of $ 3.62 thanks to a surge in season ticket sales. However, the receipts were below estimates.

Peloton (PTON) – The fitness equipment manufacturer's share lost 3.5% pre-trading after Credit Suisse downgraded the share from “outperform” to “neutral”. The company experienced a number of headwinds for Peloton, including a return to out-of-home fitness and a shift in consumer spending.

AMC Entertainment (AMC) – The theater operator's shares fell 1% in early trading after SEC filings revealed a sale of 312,500 shares by CEO Adam Aron and a sale of 18,000 shares by CFO Sean Goodman. In November Aron had indicated that he would soon start selling shares as part of estate planning.

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