Stocks making the biggest moves in the premarket: VF Corp, The Buckle, Palo Alto Networks & more
Take a look at some of the biggest movers in the premarket:
VF Corp (VFC) – The company behind apparel brands like North Face, Timberland and Vans posted a mixed quarter, beating top line estimates but reporting lower-than-expected per-share profit. VF said the majority of its supply chain is operational, although it has seen isolated product delays. VF shares tumbled 6% in the premarket.
The Buckle (BKE) – The accessories retailer's shares jumped 7.9% in the premarket after reporting better-than-expected profit and revenue for its latest quarter. The Buckle earned $1.16 per share, compared to a consensus estimate of 43 cents a share, helped 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 a share. The cybersecurity company's revenue also came in above Wall Street projections. Palo Alto raised its full-year forecast amid an increase in remote working security issues and challenges. Palo Alto shares surged 5.7% in premarket action.
Deere (DE) – Deere rose 1.1% in premarket trading after beating estimates on the top and bottom line and raising its full-year forecast. Deere earned $5.68 per share for its fiscal second quarter, compared to a consensus estimate of $4.52 a share. Revenue also beat estimates as a rebounding global economy boosts demand for farm and construction equipment.
Foot Locker (FL) – Foot Locker shares rallied 3.3% in the premarket after the footwear and apparel retailer reported quarterly profit of $1.96 per share. That was well above the $1.09 a share consensus estimate, with revenue also topping forecasts and comparable-store sales surging a better than expected 80.3%.
Deckers Outdoor (DECK) – Deckers earned $1.18 per share for its fiscal fourth quarter, well above the consensus estimate of 64 cents a share. The footwear and apparel maker — which counts UGG and Teva among its brand names — also reported better-than-expected revenue, but issued a mixed outlook. Deckers rallied 6% in the premarket.
Ross Stores (ROST) – Ross Stores reported first-quarter earnings of $1.34 per share, compared to an 88 cents a share consensus estimate. The discount retailer's revenue came in well above forecasts. Results got a boost from stimulus payments to consumers and an overall improvement in the economic environment. Ross also announced a new $1.5 billion stock buyback program, and the stock added 1.4% in premarket trading.
Applied Materials (AMAT) – Applied Materials came in 12 cents a share above estimates, with quarterly profit of $1.63 per share. The maker of semiconductor manufacturing equipment reported better-than-expected revenue as well. Applied Materials also gave an upbeat full-year forecast, with chip manufacturers trying to ramp up production in the face of a worldwide chip shortage. Applied Materials added 1.1% in the premarket.
Kansas City Southern (KSU) – The railroad operator is expected to officially end its merger agreement with 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 Canadian National Railway (CNI) after Canadian Pacific declined to raise its original bid.
Moderna (MRNA) – Moderna's Covid-19 vaccine was officially approved by regulators in Japan and South Korea. Japan also gave approval to the Covid-19 vaccine produced by AstraZeneca (AZN) and Oxford University. Moderna was up 1.5% in the premarket.
Carnival (CCL) – Carnival said its flagship brand — as well as its Holland America line — would resume Alaska cruises in July. Princess Cruises made a similar announcement, after the passage of new legislation by the House and Senate. The legislation temporarily waives the rule that required Alaska cruises to make a stop in Canada. Carnival shares gained 1.6% in premarket trading.
Oatly (OTLY) – Oatly soared 5.9% in premarket trading following the oat milk maker's debut Wall Street session. Oatly's IPO was priced at $17 per share, with the first trade at $22.12 and a closing Thursday price of $20.20.
Source: Read Full Article