Peloton (PTON) – Peloton dove 8.1% in premarket, after reporting a bigger losses then expected. Peloton lost $1.05 per share for its latest quarter, compared with estimates of a 45-cent loss. Paid digital subscriptions fell as well. I’m addition to that, Peloton stated in an SEC filing that it has been subpoenaed by the government for documents on injuries related to its products which, depending on how that goes could be a big loss in share prices.
Hibbett Sports (HIBB) – The athletic apparel retailer jumped 6.1% in premarket after reporting better sales and profit for the companies latest quarter. Hibbett earned $2.86 per share, and effectively almost doubled the $1.44 estimate
Big Lots (BIG) – The discount retailer’s shares tumbled 9.5% during premarket trading after it missed the estimates for the latest quarter. Big Lots earned $1.09 per share, and its store sales slid a greater then expected 13.2%. The company also stated that it was hit by supply chain issues and inflation pressures, like that’s not going around everywhere.
Apple (AAPL) – Apple has been on the prowl stricking deals with smaller developers that extends a commission cut for three years and allows them to alert consumers about alternate payment systems to Apple’s app store. Hopefully a crypto payment is coming soon. “Fingers crossed”
Gap (GPS) – Gap reported adjusted quarterly earnings of 70 cents per share, beating the 46 cents estimate, and the apparel retailer’s revenue was also above a lot of Wall Street forecasts. I guess they didn’t expect that many privileged individuals to go back to the Gap. In addition Gap also made a hefty profit, largely on the strength of its Old Navy and Athleta brands which are packed to the brim with students for the new school year. The stock rallied 8.5% in premarket trading.
Dell Technologies (DELL) – Dell reported adjusted quarterly earnings of $2.24 per share, 21 cents above estimates, with revenue also topping any market forecast shown. Dell benefited from the ongoing boom in demand for personal computers due to the quarantine stage of the pandemic and said it is dealing successfully with supply chain challenges. However, the stock fell 1.8% in premarket.
HP Inc. (HPQ) – HP Inc. beat estimates just by 16 cents with adjusted quarterly earnings of about $1.00 per share, though revenue was down below most forecasts. The tech company stated that it was hurt in its ability to meet demand, with the company saying it is selling everything it can produce. Wether it’s a staffing issues or a raw material issue is too soon to tell but if it’s staffing then I can’t really excuse them for that. The company lost 4.6% in premarket action.
Workday (WDAY) – Workday earned $1.23 per share for the latest quarter, with the provider of cloud-based human resources and financial software also reporting better revenue then what was expected. Subscription revenue soared more than 23% from a year earlier. Workday shares surged 7.2% in premarket.
Marvell Technology (MRVL) – Marvell came in 3 cents above estimates with quarterly profit of 34 cents per share. However the company met expectations but just barely , and its cost of goods sold rose from a year earlier. Shares declined 3.6% in premarket.
VMWare (VMW) – VMWare reported quarterly earnings of $1.75 per share, beating the $1.64 estimate, while the enterprise software company’s revenue was slightly higher then expected revenue. However, cloud business revenue did fall short of some analyst forecasts, and shares declined 5.7% in premarket.
Ollie’s Bargain Outlet (OLLI) – Ollie’s stock shot down 13.3% in premarket after it fell 3 cents short, with adjusted quarterly earnings of 52 cents per share. The discount retailer’s revenue fell short also, with store sales falling 28% from a year earlier.
Johnson & Johnson (JNJ) – J&J will be allowed to separate its talc-related liabilities from the rest of its business after a judge declined to prohibit the company from doing so. Personal injury lawyers had sought to prevent the move, fearing that it could put thousands of claims into bankruptcy.