Dick’s Sporting Goods spirals on profit warning
Dick's Sporting Goods (NYSE:DKS) stock was slapped 19% lower, trading at US$119.25, in Tuesday morning’s deals after quarterly results missed Wall Street expectations and the retailer downgraded its outlook with a profit warning.
Macy's stays conservative on outlook
Less dramatically, Macy's, Inc. (NYSE:M) stock was 1.5% lower, at US$14.50, after reporting tronger-than-expected sales and earnings in the second quarter - albeit, held guidance relfecting a cautious economic outlook.
Baidu: 'China's Google' comfortably beats expectations
Baidu.com (NASDAQ:BIDU) stock was up over 4% in New York’s early dealing as ‘China’s Google’ reported strong quarterly results, blowing past fears that China’s economic sluggishness had dented its financials.
Revenue for the three months ended 30 June amounted to US$4.7 billion (34.1 billion yuan), whilst on a per share basis, Baidu made a US$3.09 profit (22.55 yuan) – eclipsing Wall Street expectations pitched at 33.3 billion and 16.80 yuan respectively.
Coty drops despite ‘beauty’s resilience’
Coty Inc (NYSE:COTY) stock extended Monday's losses, down 1.6% in premarket deals, as it reported fourth-quarter revenue that edged ahead of Wall Street forecasts, but, earnings that missed analyst expectations.
BJ's Wholesale held back by gasoline
BJ's Wholesale Club (NYSE:BJ) has reported lower second-quarter sales and earnings as it was held back by lower gasoline sales. While the earnings decline wasn’t as bad as expected, the company’s shares fell close to 2% in Tuesday premarket trading.
Zoom tops Wall Street expectations
Zoom Video Communications Inc (NASDAQ:ZM) is set to start Tuesday’s session on the front foot after last night’s second-quarter results topped Street expectations.
In New York, in premarket, the video calling stock was up nearly 4% in early premarket deals changing hands at US$69.81.
Fabrinet earnings boosted by AI products
Fabrinet (NYSE:FN) stock was seen some 18% higher in Tuesday’s early premarket trade after the manufacturer's fourth-quarter earnings beat expectations, driven by new artificial intelligence (AI) products that saw strong growth.
Trading at US$138, the stock was up US$21.22 or 18.17% in early trading.
Faraday stock slide pauses
Faraday Future Intelligent Electric (NYSE:NASDAQ) stock stopped falling and is slightly higher in premarket deals after the EV-challenger last night announced a narrower second-quarter loss.
Having fallen 17% in the hours running up to the results, the stock steadied and was up 2.93% in early premarket deals.
Agora earnings miss lightly punished
Agora Inc (NASDAQ:API) stock is slightly lower in Tuesday’s early premarket dealing, trading at US$2.79 after the Zoom-challenger video communications app failed to meet Street expectations on the top or bottom line with its second-quarter results.