A car is seen parked in front of the Dick’s Sporting Goods store in Monroe Marketplace, Pennsylvania.
Paul Weaver | SOPA Images | Light Rocket | Getty Images
Check out the companies that make headlines before the bell.
Yelp — Yelp shares surged 11.4% in pre-market trading. Activist investor TCS Capital Management has confirmed reports that it owns more than 4% of Yelp, and is reportedly urging the company to explore strategic alternatives, including a sale. Open Letter to Yelp Board of Directors on tuesday.
AutoZone — Shares of AutoZone fell more than 2% following the specialty retailer’s lower-than-expected third-quarter earnings. AutoZone reported earnings per share of $34.12 on sales of $4.09 billion. Analysts polled by Refinitiv had expected earnings of $31.51 a share and revenue of $4.12 billion. AutoZone’s inventory increased by 7.4% year-on-year.
Lowe’s Companies — Shares fell about 1% after home improvement retailers lowered their full-year forecasts for total sales, comparative sales and adjusted earnings per share. However, Lowe’s outperformed in first quarter profit and sales.
Dick’s Sporting Goods — The sporting goods retailer’s shares rose more than 2% before the bell, as sales and bottom line earnings rose in the most recent quarter. Dick’s Sports Goods beat earnings expectations by 22 cents a share, reaffirming its 2023 outlook.
Zoom Video Communications — Zoom is down 0.7% in premarket after reporting Q1 results. The videoconferencing company reported adjusted earnings of $1.16, beating expectations of 99 cents a share, according to Refinitiv consensus estimates. Sales of $1.11 billion surpassed sales of $1.08 billion. However, the outlook for the second quarter was essentially in line with expectations.
Chevron — Chevron shares rose 1.2% before the market. HSBC upgraded the company from hold to buy, citing higher oil prices would boost the stock.
BJ’s Wholesale — Wholesale retailers fell nearly 1% before the bell. BJ’s Wholesale reported sales slightly below Refinitiv’s expectations. Sales of comparable clubs excluding petrol were slightly below expectations.
— CNBC’s Michelle Fox, Hakyung Kim, Jessie Pound and Samantha Soobin contributing to the report
