Check out the companies making headlines before the bell:
Dick’s Sporting Goods (DKS) — Shares of the sporting goods retailer fell 14.4% in premarket after it released a weaker-than-expected full-year outlook as it adjusts to what it calls challenging macroeconomic conditions. Dick’s posted better-than-expected earnings and revenue for the fourth quarter, and comparable store sales fell less-than-expected.
Express (EXPR) — Shares of the apparel retailer jumped 11.8% in premarket trading after reporting better-than-expected quarterly results. Express lost an adjusted 10 cents per share, narrower than the 15-cent loss analysts had expected, and revenue also beat expectations. Express also raised its full-year forecast for comparable store sales.
Wendy’s (WEN) — Wendy’s rose 8.8% in pre-market activity after long-time contributor Trian Fund Management said it was exploring an acquisition or other potential deal for the restaurant chain. Trian is the company’s largest shareholder, with a 19.4% stake.
Dell Technologies (DELL) Dell added 1% in pre-market trading after Evercore added the IT company to its “Tactical Outperform” list. Evercore believes that IT demand trends remain strong enough to result in better earnings and forecasts when Dell reports quarterly earnings on Thursday.
Lyft (LYFT) — Lyft plans to cut budgets and slow hiring, steps similar to those recently announced by ride-sharing competitor Uber Technologies (UBER). Lyft shares are down more than 60% this year, including more than 17% that fell on Tuesday.
Nordstrom (JWN) – Nordstrom rose 5.3% in premarket after the retailer raised its annual sales and earnings forecast, unlike other major retailers. Nordstrom posted a slightly larger-than-expected loss in the first quarter, while sales at Nordstrom brand stores rose 23.5% to exceed pre-pandemic levels.
Intuit (INTU) – Intuit shares are up 2.5% in premarket trading after posting better-than-expected quarterly earnings and returns. The financial software company also raised its forecast for the current quarter on the improvement in the QuickBooks business and the addition of recently acquired email marketing company Mailchimp.
Toll Brothers (TOL) — Toll Brothers stock rose 3.5% in pre-market activity after the luxury home builder beat top estimates last quarter. Toll Brothers said that while demand remains strong, it is moderating amid high mortgage rates and changing macroeconomic conditions.
Urban Outfitters (URBN) – Urban Outfitters fell 1.6% in pre-market trading after first-quarter results that missed analysts’ expectations on both the top and bottom lines. Like other retailers, Urban Outfitters has highlighted the negative impact of inflation on its operations including higher costs for raw materials and transportation.
Correction: Nordstrom posted a slightly wider-than-expected loss for the first quarter, while sales at flagship Nordstrom brand stores rose 23.5% to exceed pre-pandemic levels. A previous version mischaracterized the number.