Take a look at some of the biggest movers in the premarket:
Macy’s (M) – The retailer lost 19 cents per share for its latest quarter, smaller than the 79 cents a share loss that Wall Street was anticipating. Revenue beat estimates, however. Same-store sales dropped 20.2%, but that was smaller than the 23.3% loss anticipated by analysts surveyed by Refinitiv. The shares fell 2% in premarket trading as of 7:35 a.m. ET.
BJ’s Wholesale (BJ) – The warehouse retailer earned 92 cents per share for the third quarter, beating the 64 cents a share consensus estimate. Revenue topped estimates as well. Comparable-store sales rose 18.5%, compared to a FactSet estimate of up 16.7%. The stock lost 2% in premarket trading as of 7:35 a.m. ET.
Nasdaq (NDAQ) – The exchange operator is buying Verafin for $2.75 billion in cash. Verafin is a provider of technology designed to detect and fight financial crimes. The shares fell 3% in premarket trading as of 7:35 a.m. ET.
Nvidia (NVDA) – Nvidia reported quarterly earnings of $2.91 per share, beating the consensus estimate of $2.57 a share. The graphics chipmaker’s revenue also beat forecasts, however the shares are coming under pressure after the company said data center chip revenue would fall slightly during the current quarter. Nvidia shares fell 2% in premarket trading as of 7:35 a.m. ET.
L Brands (LB) – L Brands earned $1.13 per share for its latest quarter, well above the 9 cents a share consensus estimate. Revenue exceeded estimates as well. L Brands saw record sales growth at its Bath & Body Works chain, and a rebound at its Victoria’s Secret operation. The shares jumped 16% in premarket trading as of 7:35 a.m. ET.
AstraZeneca (AZN) – The drugmaker said the Covid-19 vaccine candidate being developed with Oxford University produced a strong immune response in older adults. Late-stage trials are currently being conducted to confirm those findings.
Starbucks (SBUX) – Starbucks plans to hike pay for U.S. employees by at least 10%, effective Dec. 14. The coffee chain will also raise starting pay to help attract new workers.
JOYY Inc. (YY) – JOYY is on watch once again after shares in the Chinese social media platform plummeted more than 26% Wednesday. That followed accusations by short-seller Muddy Waters that JOYY was a “multibillion-dollar fraud.” JOYY responded by saying Muddy Waters was ignorant about its business and that the report contains numerous errors.
Coca-Cola (KO) – The beverage giant was ruled to have placed too much of its profit in foreign operations rather than its higher-taxed U.S. unit, according to a ruling from a U.S. Tax Court judge. The IRS has been seeking more than $3.3 billion in taxes for the years 2007 through 2009, although the ruling does not yet set an actual amount that Coca-Cola may owe. Coca-Cola has maintained that the IRS claims are without merit.
Sinclair Broadcast Group (SBGI) – Sinclair is partnering with casino operator and sports betting company Bally’s (BALY) to rebrand its 21 regional sports networks under the Bally name. Sinclair had acquired regional Fox Sports networks from Walt Disney (DIS) last year, in a deal that cleared the way for Disney’s purchase of 21st Century Fox’s film and TV assets.
Jack In The Box (JACK) – Jack In The Box earned $1.61 per share for its latest quarter, compared to a $1.14 a share consensus estimate. The restaurant chain’s revenue topped forecasts as well. Comparable-restaurant sales were up 12.2%. The shares gained 6% in premarket trading as of 7:35 a.m. ET.
Sonos (SONO) – Sonos earned 15 cents per share for its latest quarter, compared to expectations of a breakeven quarter. The maker of smart speakers and other audio equipment saw revenue beat estimates as sales jumped 15%, including 67% growth in its direct-to-consumer business. Sonos is benefiting from purchases by consumers spending more time at home amid the pandemic. The stock surged 18% in premarket trading as of 7:35 a.m. ET.
GoPro (GPRO) – The high definition camera maker is planning to raise $100 million through the sale of senior convertible notes.
Nuance Communications (NUAN) – The provider of artificial intelligence services for a variety of businesses beat estimates by 2 cents a share, with quarterly earnings of 18 cents per share. Revenue also came in above Wall Street forecasts. Nuance cited particularly strong results in its cloud-based health care industry solutions, among other factors.
Source: Finance - cnbc.com
