VF Corp, The Buckle, Palo Alto Networks, and extra
Check out some of the largest moving companies on the pre-market:
VF Corp (VFC) – The company behind apparel brands such as North Face, Timberland and Vans had a mixed quarter and beat estimates but posted earnings that were below expectations. VF said the majority of its supply chain is operational, although there have been isolated product delays. The VF share fell 6% in the pre-market.
The Buckle (BKE) – The accessory retailer’s shares rose 7.9% in the pre-market after posting better-than-expected earnings and sales in the most recent quarter. The Buckle earned $ 1.16 per share, compared to a consensus estimate of 43 cents a share backed by the reopening of its stores.
Palo Alto Networks (PANW) – Palo Alto reported quarterly earnings of $ 1.38 per share, beating estimates by 10 cents per share. The cybersecurity company’s earnings were also above Wall Street’s projections. Palo Alto raised its guidance for the full year in light of increasing security issues and challenges in remote working. The Palo Alto share gained 5.7% before the IPO.
Deere (DE) – Deere was up 1.1% in premarket trading after beating income estimates and increasing full-year guidance. Deere earned $ 5.68 per share for the second quarter of fiscal year, compared to a consensus estimate of $ 4.52 per share. Revenues also exceeded estimates as a recovering global economy boosts demand for agricultural and construction equipment.
Foot Locker (FL) – Foot Locker stock rose 3.3% in the pre-market after the shoe and apparel retailer reported quarterly earnings of $ 1.96 per share. That was way above the consensus estimate of $ 1.09 per share, with sales also beating projections and sales in like-for-like stores rising 80.3% better than expected.
Deckers Outdoor (DECK) – Deckers earned $ 1.18 per share in the fourth quarter of fiscal year, well above the consensus estimate of 64 cents per share. The shoe and apparel maker, whose brand names include UGG and Teva, also reported better-than-expected sales, but gave a mixed outlook. Deckers gained 6% in the pre-market.
Ross Stores (ROST) – Ross Stores reported earnings of $ 1.34 per share for the first quarter, compared to a consensus estimate of 88 cents per share. The sales of the discounter were well above the forecasts. Results were boosted by stimulus payments to consumers and an overall improvement in the economic environment. Ross also announced a new $ 1.5 billion share buyback program and the stock gained 1.4% in premarket trading.
Applied Materials (AMAT) – Applied Materials was 12 cents per share above estimates, with quarterly earnings of $ 1.63 per share. The maker of semiconductor manufacturing equipment also achieved better than expected sales. Applied Materials also issued an optimistic forecast for the full year, with chipmakers looking to ramp up production in the face of a global chip shortage. Applied Materials gained 1.1% in the pre-market.
Kansas City Southern (KSU) – The rail operator is set to officially end its merger agreement with the Canadian Pacific Railway (CP) today, according to people familiar with the matter who spoke to the Wall Street Journal. Kansas City Southern will instead accept a competing bid from the Canadian National Railway (CNI) after Canadian Pacific refused to increase its original bid.
Moderna (MRNA) – Moderna’s Covid-19 vaccine has been officially approved by regulators in Japan and South Korea. Japan also approved the Covid-19 vaccine manufactured by AstraZeneca (AZN) and Oxford University. Moderna gained 1.5% in the pre-market.
Carnival (CCL) – Carnival said its flagship brand – as well as its Holland America line – would resume cruises to Alaska in July. Princess Cruises made a similar announcement after the House and Senate passed new laws. The legislation temporarily waives the rule that Alaskan cruises must make a stopover in Canada. Carnival shares rose 1.6% in premarket trading.
Oatly (OTLY) – Oatly rose 5.9% in premarket trading after debuting the oat milk maker on Wall Street. Oatly’s initial public offering was priced at $ 17 per share, its first trade at $ 22.12, and its closing price on Thursday at $ 20.20.