As Wall Street futures point to a lower start, one company before the bell racing north is fashion group Michael Kors (NYSE:KORS), whose shares raced up as the firm posted better than expected first quarter results and posted strong guidance for the year ahead.
Shares in pre-market are up 13.62% to US$42.30.
Net income for the quarter came in at US$125.5mln , down from US$147.1mln, but adjusted EPS (earnings per share ) was 90 cents per share, beating the 62-cent consensus.
Michael Kors surges as turnaround efforts pay off https://t.co/sIxTtumbv6 pic.twitter.com/4P0Z3Ue8zE
— Bloomberg (@business) 8 August 2017
Elsewhere, biotech FibroGen Inc (NASDAQ:FGEN) gained over 64% after the firm posted a wider-than-expected loss and reported successful topline results from Phase 2 study of pamrevlumab in idiopathic pulmonary fibrosis.
It said its idiopathic pulmonary fibrosis (IPF) drug pamrevlumab succeeded in a mid-stage trial. IPF is a serious life -threatening disease that causes lung tissue to become scarred.
Car rental firm Avis Budget Group Inc (NASDAQ:CAR) plunged over 8% in pre-market trade after the company posted downbeat quarterly earnings
The firm missed forecasts for sales and EPS (earnings per share).
Later today (after the bell), the hotel and holiday comparison firm Tripadvisor Inc (NASDAQ:TRIP) will report and is forecast to post quarterly earnings at US$0.3 per share on revenues of US$422.41mln. Shares gained over 1% after hours.