Dick’s Sporting, J&J, Express, Shoe Carnival, others
Find out which companies are making the headlines before the bell:
Dick’s Sporting Goods (DKS) – Shares of the sporting goods retailer jumped 4.9% in pre-release, as its quarterly profits beat estimates. The company also announced a special dividend of $ 5.50 per share and a 21% increase in its quarterly dividend. Dick’s earned adjusted $ 5.08 per share for its most recent quarter, beating the consensus estimate of $ 2.80.
Johnson & Johnson (JNJ) – Johnson & Johnson said study data supports the benefits of a booster for recipients of its Covid-19 vaccine. The dose sharply increased antibody levels in two early stage trials.
Express (EXPR) – Shares of the clothing retailer rose 4.1% in pre-release after the company reported unexpected earnings for its final quarter. Express gained 2 cents per share, compared to expectations of a loss of 30 cents per share, and earnings also exceeded analysts’ expectations.
Shoe Carnival (SCVL) – The shoe retailer reported quarterly profit of $ 1.54 per share, more than double the consensus estimate of 75 cents, with revenue also exceeding Wall Street forecasts and comparable sales in 11.4% increase. Shoe Carnival gained 1.2% in pre-release.
Cassava Biosciences (SAVA) – The biotech company has said that claims posted online last night challenging its scientific integrity are false and misleading. The question revolved around study data for a treatment for Alzheimer’s disease. Cassava issued a statement refuting each of the 15 claims the company calls “fiction.” Cassava fell 23.1% in pre-marketing.
Urban Outfitters (URBN) – Urban Outfitters earned $ 1.28 per share for its most recent quarter, beating the consensus estimate of 77 cents. The clothing retailer’s revenue was also higher than expected. Urban Outfitters has benefited from a significant increase in digital sales from pre-pandemic levels. However, the company also mentioned that it faces supply chain issues and that its shares lost 4.7% in pre-market trading.
Nordstrom (JWN) – Nordstrom fell 11.3% in pre-market trade after its quarterly report showed its latest quarter earnings were still below pre-pandemic levels. The operator of the department store beat the estimate of 27 cents for its most recent quarter with earnings of 49 cents per share and higher than expected revenues. Nordstrom also raised its outlook for the full year.
Toll Brothers (TOL) – Toll Brothers reported quarterly earnings of $ 1.87 per share, 32 cents above the consensus estimate, as the luxury home builder’s earnings were mostly in line with Wall Street forecasts. Low overall inventory in the housing market and low mortgage rates helped boost the company’s results. Toll Brothers gained 2.1% in the pre-market share.
Intuit (INTU) – Intuit broke estimates by 38 cents with adjusted quarterly profit of $ 1.97, while the financial software company’s revenue exceeded estimates. The maker of TurboTax also issued a bullish outlook, increased its dividend and stepped up its share buyback program. The title added 2.2% in pre-market.
Meme Stocks – So-called “meme” stocks remain under scrutiny after Tuesday night’s rallies. GameStop (GME), AMC Entertainment (AMC), Koss (KOSS), Robinhood (HOOD) and ContextLogic (WISH) have all risen despite the lack of news on any of these companies. Koss was up 4.2% pre-market, AMC jumped 4.4%, and Robinhood fell 1%.
Campbell Soup (CPB) – Campbell Soup was demoted to “neutral” from “overweight” at Piper Sandler, who cited rising commodity costs among other factors. Campbell shares slipped 1.2% in pre-market trading.