Take a look at some of the biggest moves on the market ahead of time:
AMC Entertainment (AMC) – The movie theater operator’s shares jumped 15.4% in pre-market trading. After four straight days of gains and nearly 36 percent gains over Thursday alone, AMC, which is popular among so-called “meme” stocks, more than doubled this week.
Ulta Beauty (ULTA) – Ulta Beauty reported quarterly results of $4.07 per share. More than double the estimate of $1.95 per share. The cosmetics retailer also reported better-than-expected revenue, and Ulta raised its full-year guidance. Sales of cosmetics increased as the pandemic subsided. The company’s stock is up 6% in pre-market action.
Salesforce.com (CRM) – Salesforce shares jumped 5.2 percent in premarket after reporting quarterly earnings of $1.21 per share, up from 88 cents per share estimated by consensus. The business software giant’s earnings have also exceeded analyst expectations. This was driven by the strength of the “Customer 360” platform.
Boeing (BA) – Boeing tumbled 1.2 percent in its premarket on news that the jet maker has stopped deliveries of the Boeing 787 Dreamliner. Boeing’s proposed solutions for the quality control problems identified earlier.
Big Lot (BIG) – Discount retailers are becoming popular. But then fell 1.5% in pre-market trading. Despite reporting a better-than-expected quarter Big Lot earned $2.62 per share. That compares to consensus estimates of $1.69 per share. Revenues were higher than estimates as well. Comparable store sales were up 11.3%, compared to the 5.7% FactSet estimate.
Hibbett Sports (HIBB) – Shares of the sporting goods retailer surged 5.8 percent in premarket after reporting quarterly earnings of $5.00 per share. Better-than-expected $2.77 Revenue exceeded expectations, with same-store sales up 87.3%. Hibbett also raised its full-year forecast, expecting to benefit from pent-up demand.
Dell Technologies (DELL) – Dell earned $2.13 per share for the first quarter. Above the consensus estimate of $1.61, the computer maker’s revenue also surpassed estimates. Dell continued to benefit from growing demand for desktop PCs and notebooks. But it also knows the potential impact of computer chip shortages on consumables.
HP Inc. (HPQ) – HP is also benefiting from growing demand for computers. It beat expectations of 4 cents per share, with quarterly profit of 93 cents per share. Revenue also beat estimates. HP also benefited from better-than-expected results in its printer business. HP has raised its guidance throughout the year. But it also warned of the potential impact of chip shortages. This resulted in a 5.6% drop in stock in the premarket.
BOX – Box beat estimates by pennies per share. With quarterly revenue of 18 cents per share, revenue also beat Wall Street forecasts for cloud computing company Box also raised its full-year forecast.
Costco (COST) – Costco earned $2.75 per share for the latest quarter. Compared to the consensus estimate of $2.35 per share. The warehouse retailer saw revenue that beat expectations as well. Costco also warned of rising costs for products and employee salaries.
Gap (GPS) – Gap reported quarterly profit of 48 cents per share, astonishing analysts expected a loss of 5 cents per share. And the company has released bright forecasts amid strength in categories such as apparel and dresses. Despite the good results, Gap dropped 1.3% in the premarket.
Bristol-Myers Squibb (BMY) – The drugmaker has been approved by the Food and Drug Administration to use Zeposia to treat ulcerative colitis. The oral treatment – acquired when Bristol Myers bought Celgene for $74 billion in 2019 – was approved to treat multiple sclerosis.