- Deere shares fell 5.2% after the heavy equipment maker missed quarterly earnings estimates, even though sales were better than expected.
- Foot Locker shares went up 17.4% after its quarterly earnings beat expectations.
- Bed Bath & Beyond shares fell 42.7% after it was reported that an investor sold all his shares in the home goods store for a profit.
- The company makes equipment for making semiconductors. Shares of Bill.com rose 18.5% after the company reported better-than-expected results.
Deere (DE) – In premarket trading, Deere fell 5.2% after the heavy equipment maker missed quarterly earnings estimates, even though sales were better than expected.
Deere made $6.16 per share, which was less than the average estimate of $6.69 per share because it was able to raise prices but also had to pay more. The company also lowered its forecast for the whole year.
Foot Locker (FL) – In the premarket, shares of Foot Locker went up 17.4% after the athletic shoe and clothing store’s quarterly earnings beat analyst predictions and the company announced a new CEO. Richard Johnson’s job as CEO will be taken over by Mary Dillon on September 1.
Bed Bath & Beyond (BBBY): Shares of Bed Bath & Beyond fell 42.7% in premarket trading after it was reported that investor Ryan Cohen had sold all of his shares in the home goods store for a profit of more than $58 million.
Ross Stores, Inc. (ROST) – Ross Stores‘ latest quarterly earnings were better than expected, but its revenue was lower than what Wall Street had predicted, and the company gave a weaker-than-expected outlook for the whole year. The company said that its results were hurt by both higher costs and more advertising. The stock dropped 1% before the market opened.
Applied Materials (AMAT): With an adjusted quarterly profit of $1.94 per share, Applied Materials beat estimates by 15 cents.
The company, which makes equipment for making semiconductors, also beat estimates for revenue. It also gave a positive revenue forecast for the current quarter because chipmakers are making more chips.
Coinbase (COIN): The stock of the company that runs a cryptocurrency exchange fell 8.6% in premarket trading, following the sudden drop in bitcoin prices overnight. Microstrategy (MSTR), a company that does business analytics and holds a lot of bitcoin, saw its stock drop by 9.3%.
Home Depot (HD) –Home Depot has replaced an earlier announcement with an announcement of a new share repurchase program that will cost $15 billion. Also, the home improvement store said that former CEO Craig Menear would step down as chairman on October 1 and be replaced by CEO Ted Decker.
Madison Square Garden Entertainment (MSGE) went up 7.3% in premarket trading after it was reported that the company’s board is considering a spin-off of its live entertainment and MSG Networks businesses.
Bill.com (BILL): Shares of Bill.com went up 18.5% before the market opened after the company that makes software for financial back-office operations reported better-than-expected quarterly results and gave optimistic guidance.