Yelp, AutoZone, Lowe’s, Dick’s Sporting Goods and more
Cars are seen parked in front of a Dick’s Sporting Goods store at Monroe Marketplace in Pennsylvania.
Paul Weaver | SOPA images | Light Rocket | Getty Images
Check out the companies making headlines before the bell:
howl – Yelp shares are up 11.4% in premarket trading. Activist investor TCS Capital Management confirmed reports that it has built a stake of more than 4% in Yelp and is urging the company to explore strategic alternatives including a sale, a report said Open letter to Yelp board of directors on Tuesday.
AutoZone — AutoZone shares fell more than 2% after the specialty retailer’s third-quarter sales fell short of expectations. AutoZone reported earnings per share of $34.12 on sales of $4.09 billion. Analysts polled by Refinitiv were expecting earnings per share of $31.51 and revenue of $4.12 billion. AutoZone’s inventory rose 7.4% year over year.
Lowe’s company – Shares fell about 1% after the home improvement retailer cut its full-year guidance for total sales, comparable sales and adjusted earnings per share. However, Lowe’s beat first-quarter earnings and sales.
Dick’s sporting goods – Shares of the sporting goods retailer were up more than 2% before the bell, posting a surge in sales and earnings in the most recent quarter. Dick’s Sporting Goods beat earnings expectations by 22 cents a share and reiterated its guidance for 2023.
Zoom video communication – Zoom slipped 0.7% in premarket trading after releasing first-quarter results. The video conferencing company reported adjusted earnings of $1.16, up from the expected 99 cents per share, according to Refinitiv consensus estimates. Revenue was $1.11 billion, up from $1.08 billion in revenue. However, the forecast for the second quarter was essentially in line with expectations.
chevrons — Chevron shares are up 1.2% in premarket. HSBC upgraded the oil giant to “buy from waitlist” and said the stock would be boosted by rising oil prices.
BJ’s Wholesale – Wholesale retail fell almost 1% before the start of trading. BJ’s Wholesale reported sales slightly below Refinitiv’s estimates. Comparable club sales excluding petrol were slightly weaker than expected.
— CNBC’s Michelle Fox, Hakyung Kim, Jesse Pound and Samantha Subin contributed coverage
https://www.cnbc.com/2023/05/23/stocks-making-the-biggest-moves-premarket-yelp-autozone-lowes-dicks-sporting-goods-more-.html Yelp, AutoZone, Lowe’s, Dick’s Sporting Goods and more
