Check out the companies writing before the bell:
Macy’s (M) – Shares of Macy’s jumped 9.6% in premarket trading after the retailer reported better-than-expected profit and revenue. Same-store sales fell less than expected, and the company also raised its earnings outlook.
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BJ’s Wholesale (BJ) – BJ added 2.4% in premarket trading after beating analysts’ forecasts on both the top and bottom lines for the latest quarter. The warehouse retailer also reported better-than-expected comparable-store sales and raised its full-year forecast.
Kohl’s (KSS) – Kohl’s fell 3.8% in premarket trading after it withdrew its financial forecast, citing various uncertainties, including macroeconomic conditions and the departure of CEO Michelle Gass.
Alibaba (BABA) – The Chinese e-commerce giant reported better-than-expected earnings, but revenue fell short of analysts’ forecasts. The company also increased its share buyback program. Alibaba fell 1.8% in presale.
Nvidia (NVDA) — Nvidia rose 1.2% in premarket trading after better-than-expected third-quarter revenue and many analysts predicting a recovery in the spring of 2023. The company also missed bottom-line estimates for the latest quarter and issued a weak sales forecast as demand for of video game chips is declining.
Cisco Systems (CSCO) — Cisco rallied 4.5% in after-hours trading after the networking equipment and software company reported better-than-expected quarterly results and issued an upbeat forecast. Cisco also said it would implement “limited business restructuring.”
Bath & Body Works (BBVI) – Shares of Bath & Body Works rose 21.9% in premarket trading after the personal goods retailer raised its full-year earnings forecast. Chief executive Sarah Nash said the company was pleased with its product range for the holiday season and was focused on inventory and cost management.
Sonos (SONO) — Sonos jumped 3.3% in premarket trading after the premium speaker maker’s latest quarter sales beat analysts’ forecasts. Sonos also said supply chain issues have eased and it has enough inventory for the holiday shopping season.
Norwegian Cruise Line (NCLH) – Shares of the cruise operator fell 5% in premarket trading after a double downgrade from Credit Suisse to underperform, with the company citing a number of factors, including valuation.