Another series of earnings reports are due today and luxury jeweller Tiffany & Co (NYSE:TIF) is perhaps the standout mover in pre-market deals.
Shares tanked 9.68% to $94.79 as it missed estimates for same-store sales in its latest quarterly results.
The group was affected by lower-than-expected spending by Chinese tourists at US and Hong Kong stores.
The group's comparable-store sales, not including the impact of currency changes, rose 3%, but analysts were looking for a rise of 5.3%.
Looking ahead, however, Tiffany sees full-year net sales increasing by a high-single-digit percentage compared to last year and it repeated its full-year 2019 EPS (earnings per share) guidance of between $4.65 and $4.80 versus $4.83 consensus.
Elsewhere, J.M. Smucker Co (NYSE:SJM) saw shares sink 5.66% to $103 in pre-market, having nudged up yesterday, as its numbers fell short of expectations.
The consumer foods giant, with brands including Folgers and Meow Mix, missed profit and sales expectations and cut its outlook for the full year.
Not including non-recurring items, adjusted earnings per share rose to $2.17 from $2.02 but missed consensus of $2.29. Sales increased 5% to $2.02 billion, which was below the consensus of $2.05 billion.
Elsewhere, Burlington Stores Inc (NYSE:BURL) saw shares surge 8.37% to $161 as it posted a 3Q beat.
The Burlington, New Jersey-based discount retailer revealed for the three months that it recorded a profit of $1.12. Earnings, adjusted for one-time gains and costs, were $1.21 per share, while the average estimate of analysts was for earnings of $1.06 per share.
The discount retailer posted revenue of $1.64 billion in the period. Its adjusted revenue was $1.63 billion, also exceeding Wall Street forecasts.
Last but not least, Nutanix Inc (NASDAQ:NTNX) posted a share gain over 9% on Wednesday to $44.70 as it posted an adjusted net loss, which beat expectations and a rise in revenue.
The cloud-computing group reported an adjusted net loss of $0.13 per share, beating the net loss of $0.27 a share, which analysts had pencilled in.