December 9, 2022

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Macy's, BJ's Wholesale, Kohl's, and more

Macy’s, BJ’s Wholesale, Kohl’s, and more

Check out the companies making headlines before the bell:

Messi (M) — Macy’s stock jumped 9.6% in the primary market after the retailer reported better-than-expected earnings and revenue. Same-store sales fell less than expected and the company also raised its earnings forecast.

Wholesale BJ’s (BJ) — BJ’s added 2.4% in pre-market trading after beating analyst expectations in both top and bottom earnings for the most recent quarter. The warehouse retailer also reported better-than-expected comparable store sales and raised its forecast for the full year.

kohl (KSS) — Kohl’s fell 3.8% in pre-market activity after it pulled its financial forecast, citing several uncertainties including macroeconomic conditions and the departure of CEO Michael Gass.

Ali Baba (Alibaba) — The China-based e-commerce giant reported better-than-expected earnings, but revenue fell short of analyst expectations. The company also increased its stock repurchase program. Alibaba shares fell 1.8 percent in the primary market.

nvidia (NVDA) — Nvidia rose 1.2% in the primary market after better-than-expected third-quarter revenue and a number of analysts predicted a rebound in spring 2023. The company also missed final estimates for the fourth quarter and issued a tepid sales forecast as demand for video game chips waned.

Cisco systems (CSCO) – Cisco rose 4.5% in off-hours trading after the software and networking equipment company reported better-than-expected quarterly results and issued an upbeat forecast. Cisco also said it would implement a “limited business restructuring.”

Bath and Body Works (BBWI) – Shares of Bath & Body Works rose 21.9% in the primary market after the personal goods retailer raised its full-year earnings forecast. The company’s CEO, Sarah Nash, said the company is pleased with the lineup of products for the holiday season and is focusing on managing inventory and expenses.

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Sonos (SONO) — Sonos jumped 3.3% in pre-market activity after the high-end speaker maker’s latest quarter sales beat analyst expectations. Sonos also said supply chain issues have eased and it has enough inventory for the holiday shopping season.

Norwegian Cruise Line (NCLH) — The cruise line operator’s stock fell 5% in premarket trading after a two-time downgrade from Credit Suisse to underperform from outperforming, as the company cited a number of factors including valuation.