Check out the companies making headlines in pre-market trading. Macy’s — Shares of Macy’s fell 9% after the department store chain lowered its forecast for the current fiscal year. Macy’s now expects adjusted earnings to be between $2.25 and $2.50, compared with previous guidance of $2.34 to $2.69, adjusted for delivery charges, according to FactSet data. GE Vernova — Shares fell 2.4% after the energy equipment maker issued lower-than-expected full-year revenue guidance for fiscal 2024 and 2025. GE Vernova also announced a dividend of 25 cents per share and authorized an initial $6 billion in share repurchases. Dave & Buster’s — Shares of Dave & Buster’s plunged more than 14% after the operator of amusement parks and restaurants posted disappointing third-quarter results and announced the departure of its chief executive. The company reported a loss of 45 cents per share on revenue of $453 million. Analysts expected a loss of 40 cents per share and revenue of $463.7 million. Duolingo — Shares of Duolingo fell about 2% after Bank of America downgraded the language-learning company to “neutral” from “buy.” The investment firm said Duolingo appears to be trading at “peak valuations” and that its next quarterly report beating investor expectations is a high bar. GameStop — Shares of GameStop rose more than 3% in premarket trading after the video game retailer reported an unexpected profit in its latest quarter. GameStop’s net profit in the third quarter was US$17.4 million, compared with a net loss of US$3.1 million in the same period last year. Rigetti Computer — Shares rose more than 7% and were up 45.2% from the previous day. Google’s stock rose on Tuesday after saying its new chip, Willow, has achieved new breakthroughs in quantum computing. Rigetti develops quantum integrated circuits for quantum computers. Patterson Companies – Shares of Patterson Companies soared more than 34% on news that the dental and animal health company will be acquired by Patient Square Capital for $31.35 per share. The transaction is expected to close during Patterson’s fourth quarter of fiscal 2025. Stitch Fix — Shares of Stitch Fix surged more than 20% after the online personal styling company raised its second-quarter revenue forecast. The company now expects revenue of $290 million to $300 million for the quarter, while analysts polled by FactSet expected revenue guidance of $283.5 million. Stitch Fix also raised the upper end of its full-year revenue forecast, which now stands at $1.14 billion to $1.18 billion. The company’s previous forecast was $1.11 billion to $1.16 billion. General Motors — Shares of General Motors rose more than 1% after the Detroit automaker dropped its Cruise robo-taxi service. General Motors said it will no longer fund the development of robotaxis and will integrate the unit into its technology team. The automaker has spent more than $10 billion on its robotaxi unit. Bausch + Lomb – The contact lens stock fell nearly 12% after Citigroup downgraded its rating on the stock to neutral, citing increased competition as a headwind for Bausch moving forward. Wolverine World Wide – Shares of the footwear and apparel company rose 3% after Stifel upgraded its rating to “buy” from “hold.” The company said 2025 will be a “transition year” for Saucony’s parent company. C3.ai — Shares fell 5% after JPMorgan downgraded the stock to underperform from neutral. The bank said the rating change resulted in higher valuations. —CNBC’s Yun Li, Lisa Kailai Han, Hakyung Kim, Michelle Fox, Samantha Subin, Jesse Pound and Spencer Kimball contributed reporting
