Check out the companies making headlines ahead of the hour:
Foot Locker (FL) – Foot Locker shares rose 14% in the premarket after beating top- and bottom-line estimates for its latest quarter. The apparel and footwear retailer raised its full-year forecast and reported unexpected growth in comparable store sales.
JD.com (JD) – China-based e-commerce companies reported better-than-expected quarterly results as Covid-related lockdowns in China prompted more consumers to shop online. JD.com shares jumped 5.2% in premarket trading.
the gap (GPS) – Gap shares rose 5.1% in premarket trading after unexpected profit and better-than-expected sales. The apparel retailer is in the midst of a turnaround effort that involves reducing inventories and streamlining its brand portfolio.
Williams-Sonoma (WSM) – Williams-Sonoma fell 8.1% in the premarket after the household retailer would not reiterate or update its outlook through 2024 due to economic uncertainty. Williams-Sonoma reported better-than-expected sales and profit for its latest quarter.
Ross Store (ROST) – Shares of the discount retailer rose 16.9% in premarket trading after reporting better-than-expected quarterly results and an increased forecast, even in the face of higher prices and holiday season promotions.
Palo Alto Networks (PANW) – Palo Alto rose 9.2% in premarket action after beating Wall Street’s top and bottom line estimates for the latest quarter. Cybersecurity companies have also issued slightly improved guidelines as companies increase spending on network security.
Applied materials ( AMAT ) – Applied Materials beat top and bottom line estimates for its latest quarter, and the semiconductor manufacturing equipment maker also issued current quarter guidance. Shares rose 4.4% in the premarket.
Farfetch (FTCH) – Farfetch reported an expected quarterly loss with sales below analyst forecasts. The online luxury platform operator’s stock fell 9.7% in after-hours trading.