Stocks with the biggest gains before the market: SMCI, ANF, BOX, FL | Wilnesh News
Check out the companies making headlines before the market opens. Abercrombie & Fitch — Shares of the retailer that owns the Abercrombie and Hollister brands fell more than 9% after reporting fiscal second-quarter revenue growth of 21% and issuing bullish guidance for the period. Abercrombie reported earnings of $2.50 per share on revenue of $1.13 billion, beating earnings of $2.22 per share on revenue of $1.10 billion, according to analysts surveyed by LSEG. expected. Nordstrom — Shares of Nordstrom rose more than 1% after the retailer beat second-quarter profit expectations and raised the lower end of its full-year forecast. Nordstrom expects fiscal 2024 earnings per share to be between $1.75 and $2.95, compared with the previous forecast of $1.65 to $2.05. The department store earned 96 cents a share in the second quarter, compared with 71 cents expected by analysts polled by LSEG. JM Smucker — The consumer food company’s shares fell about 4% after it lowered its full-year guidance, reporting quarterly revenue of $2.13 billion, in line with analysts’ expectations, according to FactSet. However, earnings of $2.44 per share beat expectations, with analysts expecting earnings of $2.17 for the period. Nvidia — Shares of NVIDIA were little changed as Wall Street prepared for the chip giant’s earnings report after the bell. Following the delayed report, analysts will be closely watching the company’s forecasts and comments on its Blackwell wafer production. Bath & Body Works — The fragrance seller reported disappointing second-quarter revenue and lowered its full-year guidance, sending its shares down about 4%. Bath & Body Works reported quarterly earnings of 37 cents per share, excluding items, on $1.53 billion. Meanwhile, analysts polled by FactSet were calling for adjusted earnings of 36 cents per share on revenue of $1.54 billion. The company’s management said it was “taking a cautious approach” to the outlook given sales trends and the tough macroeconomic environment. Box — Shares of the cloud storage company rose 6% as second-quarter earnings and revenue beat expectations. Box reported adjusted earnings of 44 cents per share on revenue of $270 million, while analysts polled by LSEG expected Box to earn 40 cents per share on revenue of $269 million. Foot Locker — Shares of Foot Locker fell more than 8% in premarket trading after the company reported poor second-quarter results. The company reported a loss of 5 cents per share, excluding items, on revenue of $1.9 billion. Analysts polled by London Stock Exchange Group (LSEG) expected a loss of 7 cents per share on revenue of $1.89 billion. However, the retailer reported same-store sales growth for the first time in six quarters. nCino — Shares fell nearly 14%. The cloud-based banking platform issued weaker-than-expected third-quarter guidance, but second-quarter results beat expectations. nCino expects third-quarter adjusted earnings of 15 cents to 16 cents per share, slightly below the FactSet consensus of 16 cents per share. Revenue guidance was $136 million to $138 million, below expectations of $138.6 million. Super Micro Computer – Shares of the server company fell more than 2% on Tuesday as investors continued to digest reports from short sellers about the company’s accounting practices. The stock closed down 2.6% during Tuesday’s trading session following the report. PVH—the company that owns Tommy Hilfiger and Calvin Klein—slumped more than 8% after issuing a bleak outlook for the third quarter. PVH expects third-quarter adjusted earnings of $2.50 per share, well below the $3.12 per share expected by analysts surveyed by LSEG. The company also expects revenue to fall 6% to 7% from the same period last year, higher than analysts’ expectations for a 4.6% decline. Ambarella — Shares of the semiconductor developer rose nearly 20% after giving a positive outlook for third-quarter revenue of $77 million to $81 million. That compares with $69 million forecast by analysts polled by London Stock Exchange Group (LSEG). Ambarella also beat analysts’ top- and bottom-line expectations for the second quarter. Coinbase, MicroStrategy – Cryptocurrency-related stocks edged lower as a wave of liquidations on Bybit exchange sent Bitcoin prices below $60,000. Coinbase and MicroStrategy shares fell more than 1% each. —CNBC’s Fred Imbert, Samantha Subin, Jesse Pound, Brian Evans and Sarah Min contributed reporting.
