August 16, 2022

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Foot Locker, Cinemark, Dell and others

Foot Locker, Cinemark, Dell and others

Check out the companies making headlines before the bell:

foot locker (FL) — Foot Locker shares tumbled 16.1% in premarket after apparel and athletic shoe retailer gave a weaker-than-expected full-year profit and comparable store sales forecast. The company cited changes in the vendor mix as well as a decrease in fiscal stimulus compared to last year. Foot Locker reported better-than-expected results for the fourth quarter of the fiscal year, including an unexpected rise in corporate sales.

Cinemark (CNK) — Cinemark stock jumped 3.7% in the primary market after the movie theater operator reported unexpected quarterly earnings and revenue that beat Wall Street expectations. Attendance jumped as Covid-19 restrictions eased.

Dell Technologies (DELL) — Dell tumbled 9% in pre-market action after saying it expects its order backlog to swell this quarter, as supply chain issues limit its ability to meet strong demand.

roadblock (SQ) — Block rose 16.5% in pre-market trading after the payments company formerly known as Square reported better-than-expected earnings and revenue for the fourth quarter. Block also provided an optimistic forecast for the current quarter and full year amid the growing success of the Cash app.

LendingTree (TREE) — The financial services company’s stock added 2.6% in the primary market after reporting a loss and lower-than-expected revenue that beat analysts’ expectations. LendingTree saw a strong performance in the consumer segment during the quarter.

Queen Piece (COIN) — Coinbase reported quarterly earnings of $3.32 per share, well above the consensus estimate of $1.85, with the cryptocurrency firm seeing revenue also beat Wall Street expectations. However, Coinbase said that volatility in the cryptocurrency market will result in lower transaction volumes this quarter. Coinbase stock is down 2% in pre-market trading.

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Beyond Meat (BYND) — Beyond Meat fell 10.8% in premarket after reporting a wider-than-expected quarterly loss and revenue slightly below Wall Street expectations. The maker of plant-based meat alternatives also released a weaker-than-expected outlook as it expects a temporary disruption to US retail growth.

etsy (ETSY) — Shares of Etsy rose 17.4% in pre-market activity after the online craft market beat quarterly estimates and issued a strong outlook. Etsy earned $1.11 a share last quarter, compared to a consensus estimate of 79 cents, as it continues to see the surge in demand that first emerged during the pandemic.

Zscaler (ZS) – Zscaler gained 11.6% in pre-market despite beating quarterly estimates in both the top and bottom yields. Investors are focusing on the weaker-than-expected outlook for the cybersecurity company, even though it posted the strongest year-over-year revenue growth in three years.

Farfetch (FTCH) — Farfetch rose 30.5% in pre-market activity even though its adjusted quarterly loss of 3 cents a share matched estimates and revenue fell below consensus estimates. The luxury fashion retailer posted earnings on an adjusted basis for 2021, cheering investors after the recent crash in its share price.

Car Auction Services (Kar) – Carvana (CVNA) US auto auctions buy KAR Auction Services for $2.2 billion as the online used-car seller moves to strengthen its physical presence. Carr’s stock jumped 66.2% while Carvana’s stock rose 0.8% in the primary market.