Foot Locker, Deere, DoorDash and others

Check out the companies making headlines before the bell:

Foot Locker (FL) – The athletic footwear and apparel retailer reported adjusted quarterly earnings of $1.60 per share, 5 cents above estimates. Revenue was slightly lower than expected and same-store sales fell less than half of what analysts had expected. Foot Locker shares added 1% in the pre-market.

Deere (DE) – The heavy equipment maker’s stock fell 4.4% in premarket trading after quarterly earnings missed Street’s forecast. Deere beat earnings estimates by 10 cents, returning $6.81 a share, as a surge in global crop prices helped boost demand. The company also raised its full-year earnings outlook.

DoorDash (DASH) – Door Dash announced the authorization of a $400 million share buyback program. The food delivery company said the move would offset the dilution resulting from its employee stock compensation program. The stock added 2.2% in premarket action.

VF Corp. (VFC) – Shares of VF added 2.6% in premarket trading despite slight gaps on the top and bottom lines last quarter. The company behind clothing brands, such as North Face, Vans and Timberland, has raised its full-year profit forecast, based on expectations that there will be no additional Covid lockdowns -19 which will have an impact on production and that inflation will not worsen.

Deckers Outdoor (DECK) – Deckers jumped 13.8% in the pre-market after the footwear company topped high and low estimates for its latest quarter. Deckers earned $2.51 per share, versus a consensus estimate of $1.32, as net profit more than doubled from a year earlier.

Boeing (BA) – Boeing has increased its premarket shares by 2% following the successful launch of its Starliner aircraft, which is now heading to the International Space Station. The unmanned flight came after months of delays.

Ross Stores (ROST) – Ross Stores fell 27.4% in the pre-market after the discount retailer posted top and bottom misses for its latest quarter and issued a pessimistic forecast. Ross Stores said inflationary pressures had been exacerbated by the conflict in Ukraine and he was issuing a cautious forecast due to uncertain macroeconomic conditions.

Palo Alto Networks (PANW) – Palo Alto Networks rose 12.1% in premarket trading after the cybersecurity company reported better-than-expected earnings and revenue for its latest quarter. It also raised its full-year forecast for the third time.

Applied Materials (AMAT) – Shares of the semiconductor manufacturing equipment maker fell 1.2% pre-market after missing estimates of top and bottom numbers for its latest quarter. The company also released a weaker than expected forecast. Supply chain issues for Applied Materials have been amplified by Covid-19 lockdowns in China.

Ollie’s Bargain Outlet (OLLI) – Shares of the discount retailer jumped 6.4% in premarket trading after Bank of America Securities doubled down on the stock to “buy” from “underperform.” BofA based its recommendation on a significant improvement in the supply of clearance items, due to over-ordering by retailers and a drop in consumer spending on durable goods.

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