Companies making headlines in premarket trading include Lowe’s, Dick’s Sporting Goods, American Eagle Outfitters, Burlington Stores, Best Buy, Kohl’s, Baidu, Medtronic, DigitalOcean, Vale, Gen Digital, and Cloudflare.
Lowe’s dropped 3.9% after cutting its sales outlook for the full year and missing analyst expectations for revenue in the third quarter.
Dick’s Sporting Goods saw its shares surge 8% after posting quarterly earnings and revenue for its fiscal third quarter that beat analysts’ expectations.
American Eagle Outfitters dived 12.2% despite beating expectations on both lines in the third quarter and offering solid guidance.
Burlington Stores jumped 11% after raising the lower end of its full year earnings guidance and reporting a strong start to November.
Best Buy fell 5.9% after cutting its full year sales outlook, despite beating Wall Street’s quarterly earnings expectations.
Kohl’s shares fell more than 4.9% after reporting weaker than expected revenue for the third quarter and lowering the low end of its full year same-store sales outlook.
Baidu U.S. shares climbed 1% after revenue came in slightly better than Wall Street anticipated.
Medtronic traded nearly 2% higher after delivering a better-than-expected report for the fiscal second quarter.
DigitalOcean gained 2.8% after being upgraded to outperform, citing strong demand for artificial intelligence set to accelerate growth for cloud services.
Vale rose 1.4% after Goldman Sachs upgraded the metal and mining company to buy from neutral.
Gen Digital added 4.9% following an upgrade Morgan Stanley to overweight from equal weight.
Cloudflare advanced 1.2% after receiving an upgrade to outperform from perform Oppenheimer, benefiting from its abilities to offer technology around artificial intelligence and edge computing.