Stocks making the biggest moves premarket: Macy’s, GameStop, Dick’s Sporting Goods, Joby Aviation and more
Check out the companies making headlines in premarket trading. Macy’s — The department store added more than 2% after the company reported earnings that beat estimates . Macy’s also slashed its profit outlook as a result of higher tariffs and more aggressive company promotions. Okta — The identity management software firm pulled back about 10% after standing by its guidance, citing macroeconomic uncertainty. The company did beat fiscal first-quarter expectations on the top and bottom line, however. Freshpet — The pet food stock dipped nearly 2% following a downgrade to hold from buy at TD Cowen. The investment firm said Freshpet’s refrigerated dog food concept is “nearing a saturation point” and sales growth could decelerate. Vail Resorts — Shares of the ski resort firm surged more than 12% on the heels of news that Rob Katz returned as CEO . Katz, executive chair of Vail Resorts, previously served as chief executive from 2006 to 2021. He takes the place of Kirsten Lynch. Abercrombie & Fitch — The retailer advanced more than 26% after first-quarter results surpassed analyst estimates. Abercrombie earned $1.69 per share on revenue of $1.10 billion. Analysts polled by FactSet were looking for $1.36 per share and revenue pf $1.06 billion. The firm also issued a higher-than-expected second-quarter earnings outlook. Dick’s Sporting Goods — The sporting goods chain climbed 4% after Dick’s reported better-than-expected first-quarter results. The firm posted earnings per share of $3.37, excluding items, on revenue of $3.18 billion. Analysts polled by FactSet were looking for $3.21 in earnings per share and revenue of $3.12 billion. Dick’s also reaffirmed its full-year outlook. Noble Corp — Shares of the offshore drilling contractor gained nearly 2% after a JPMorgan upgrade to overweight from neutral. The firm said it sees signs of stabilization in offshore drilling, citing new contract activity for Noble. Box — The stock jumped nearly 11% following the cloud storage company’s earnings and revenue beat for its fiscal first quarter. Box also issued second-quarter and full-year guidance that topped expectations. Nvidia — Shares gained roughly 1% ahead of first-quarter results due out after the closing bell on Wednesday. Investors will be looking for any information pertaining to export restrictions to China and the impact on its chips. Joby Aviation — The aviation stock gained more than 10% after the firm announced the closing of the first tranche of a $250 million investment from Toyota. That’s part of a total $500 million investment first announced last year. GameStop — The video game retailer added more than 3% after announcing the purchase of nearly 5,000 bitcoin . — CNBC’s Sean Conlon, Jesse Pound and Michelle Fox contributed reporting.
