Stocks making the biggest moves premarket: Home Depot, Macy’s, Medtronic and others

In this article

Check out the companies making headlines before the bell:

Home Depot (HD) – The home improvement retailer’s stock rose 1% in the premarket after its quarterly profit and revenue beat Wall Street forecasts. Home Depot earned $3.21 per share, 3 cents above estimates, and comparable-store sales also beat estimates. Home Depot also announced a 15% dividend increase.

Macy’s (M) – Macy’s beat estimates by 45 cents with adjusted quarterly earnings of $2.45 per share, and the retailer’s revenue beat estimates as well. Macy’s also authorized a new $2 billion share buyback program and announced a 5% dividend increase. The stock rallied 7.9% in premarket action.

Tempur Sealy (TPX) – The mattress company’s stock slid 5% in the premarket after its adjusted quarterly earnings of 88 cents per share missed estimates by 8 cents, and revenue fell short of Street forecasts. Tempur Sealy’s results were impacted by costs that grew faster than sales.

Medtronic (MDT) – The medical device maker’s shares reported a mixed quarter. Revenue missed forecasts and its adjusted quarterly profit beat estimates by a penny at $1.37 per share. Medtronic said it is seeing improved procedure volumes, and its most recent quarter was driven by strong demand for its heart devices. The stock initially slid 1.2% in the premarket but then erased that loss.

Houghton Mifflin (HMHC) – The publishing company agreed to be bought by private equity firm Veritas Capital for $21 per share in cash or about $2.8 billion. The stock surged 14.9% in premarket trading.

SoFi Technologies (SOFI) – The financial technology firm announced a deal to buy banking software maker Technisys for about $1.1 billion stock, saying the addition will generate up to $800 million in additional revenue through 2025. SoFi fell 2.7% in premarket action.

Tegna (TGNA) – The TV station operator’s shares jumped 7.4% in the premarket after agreeing to a $24 per share buyout deal with private equity firms Standard General and Apollo Global Management (APO).

McDonald’s (MCD) – Investor Carl Icahn launched a proxy fight for two board seats at the restaurant chain, as part of his push for more ethical treatment of pigs by McDonald’s suppliers. McDonald’s fell 1% in the premarket.

Krispy Kreme (DNUT) – The doughnut chain fell a penny shy of forecasts with adjusted quarterly earnings of 8 cents per share, although revenue topped Wall Street forecasts. Krispy Kreme was able to offset wage and commodity inflation with price increases. Krispy Kreme added 1.2% in premarket trading.

DraftKings (DKNG) – The sports betting company’s stock slid 5.5% in the premarket after Wells Fargo downgraded it to “equal weight” from “overweight” and cut the price target to $19 per share from $41. Wells Fargo is concerned with the company’s path to profitability given the pace of the increase in expenses. DraftKings has fallen for the past three sessions, including a 21.6% plunge Friday following its quarterly report.

Products You May Like

Articles You May Like

People are spending lots of money on makeup and beauty, and retailers are cashing in
Tencent, the $370 billion Chinese tech giant, posts first ever revenue decline
Bitcoin Miner Selling Softens
Fed expected to stick with hawkish rate hikes until data show further slowing in inflation
NFL, Deshaun Watson agree to 11-game suspension over sexual misconduct claims

Leave a Reply

Your email address will not be published.