Check out some of the biggest movers in the premarket:
Dollar General (DG) – Dollar General shares plummeted 6.1% in premarket action after the discount chain missed estimates by 10 cents a share, with quarterly earnings of $ 2.62 a share. The company exceeded sales expectations as sales at comparable stores increased more than expected.
Signet Jewelers (SIG) – The jewelry store’s stock rose 5.7% in premarket trading after a positive quarterly report. Signet earned $ 4.15 per share, compared to a consensus estimate of $ 3.54 per share. Sales also exceeded estimates with strong comparable store sales.
Petco (WOOF) – In its first report since its release in January, the pet supplies retailer reported quarterly earnings of 17 cents per share, 6 cents per share above estimates. Sales were also above Wall Street’s forecasts, with sales growth in comparable stores of 17%. Shares gained 3.2% in the premarket.
Accenture (ACN) – The consulting firm reported quarterly earnings of $ 2.23 per share, surpassing the consensus estimate of $ 1.90 per share. Sales also exceeded expectations. Accenture also raised its earnings forecast as more companies use its services to transition to cloud-based operations. Accenture added 2.2% in premarket trading.
Apple (AAPL) – According to a Bloomberg report, Apple plans to launch a new line of iPads as early as next month. IPad sales have increased in the past year as more people worked remotely and went to school due to the pandemic. Apple was down 1% in premarket action.
Five Below (FIVE) – The discount chain beat estimates by 9 cents a share, with quarterly earnings of $ 2.20 a share. Sales were also above Wall Street’s forecasts, boosted by a 14% increase in comparable store sales. Shares were up 5.7% in premarket trading.
Coherent (COHR) – The bidding war for the maker of laser products continues, with a new bid from optical component manufacturer II-VI (IIVI) worth approximately $ 7 billion in cash and stock. Coherent had originally agreed to be acquired by telecom equipment manufacturer Lumentum (LITE) in January, but then became the target of a three-way competition between II-VI, Lumentum and MKS Instruments (MKSI) that has now resulted in a total of 9 bids. Coherent added 3.4% in the premarket, while II-VI was down 1.6%.
Williams-Sonoma (WSM) – Williams-Sonoma reported quarterly earnings of $ 3.95 per share, compared to a consensus estimate of $ 3.39 per share. The retailer’s turnover in household goods also exceeded estimates, aided by people who spent more time at home during the pandemic. The company also announced an 11% dividend increase and approved a $ 1 billion share buyback program. Williams-Sonoma was up 11.1% in premarket action.
PagerDuty (PD) – PagerDuty lost 7 cents a share for the last quarter, less than the 11 cents a share analysts expected from Wall Street. The business software company’s revenue is ahead of forecast, but expects a larger loss for the full year than analysts predicted. Shares fell 4.4% in the premarket.
Nikola (NKLA) – Nikola said South Korean stakeholder Hanwha plans to sell up to half of its stake in the electric truck manufacturer this year, reducing its 5.65% stake. Nikola added that the optoelectronic component maker remains an “important strategic partner”. Its shares lost 3.6% in premarket action.
Lordstown Motors (RIDE) – Shares fell 4.2% in premarket trading after Lordstown said it received a request from the Securities and Exchange Commission for information on allegations in a report by short-seller Hindenburg Research. The report accused the electric vehicle manufacturer of misleading consumers and investors, but Lordstown has said the report was full of “lies and half-truths.”
Sundial Growers (SNDL) – Shares of the Canada-based cannabis producer rose 8.4% in premarket trading after reporting better-than-expected earnings for the last quarter. The company also said it has successfully restructured and positioned the company for future success in 2020. The share rose by 7.8% in the premarket.
National Grid (NGG) – National Grid acquires the UK distribution grid unit from Pennsylvania-based PPL Corp. (PPL) for $ 10.9 billion. At the same time, the multinational energy company is selling Rhode Island-based Narragansett Electric Company to PPL for $ 3.8 billion. PPL added 1.7% in premarket trading.
Peloton (PTON) – Peloton CEO John Foley told Bloomberg news that the fitness equipment manufacturer has expanded its manufacturing capacity by 700% over the past year and that its exercise bike offering is now close to meeting demand. Platoon fell 1.7% in the premarket