Zoom, Palo Alto Networks, Macy’s and more

Date:

Check out some of the biggest movers in the premarket:

Zoom Video Communications (ZM) – Zoom fell 11.5% in the premarket after the video conferencing company lowered its full-year forecast. Zoom reported better-than-expected revenue for the last quarter, but sales fell short of forecasts. Zoom’s CFO said the company is struggling to attract new paying subscribers, although he added that company sales are strong.

Palo Alto Networks (PANW) – Palo Alto rose 9.3% in premarket trading after the cybersecurity firm reported better-than-expected quarterly results and made an optimistic forecast. Palo Alto also announced that the board of directors had approved a 3-for-1 stock split.

Macy’s (M) – The retailer’s shares rose 2.5% in premarket trading after beating second-quarter sales and earnings forecasts, and comparable store sales fell less than expected. However, Macy’s lowered its full-year outlook to reflect the risks of a slowing economy.

Dick’s Sporting Goods (DKS) – The sporting goods retailer has exceeded expectations for the second quarter and has raised its full-year forecast. Comparable store sales fell 5.1% in the quarter, but that was less than the 6.9% decline that analysts had expected. The stock gained 2.3% in the premarket.

Medtronic (MDT) – Medtronic gained 1% in premarket after reporting quarterly earnings and revenue that beat analysts’ forecasts. Sales were down from a year ago as the medical device manufacturer was hit by supply chain challenges.

JD.com (JD) – The China-based e-commerce company reported better-than-expected quarterly results, seeing a 9.2% increase in active customer accounts. JD.com rose 4.3% in premarket action.

Warner Bros. Discovery (WBD) – Nearly 10 million viewers watched the “Game of Thrones” prequel “House of the Dragon” on the company’s HBO Max service, setting a record for an HBO series debut. Warner Bros. Discovery gained 1.4% in presale.

JM Smucker (SJM) – The food maker’s share rose 1.8% in premarket trading after it reported better-than-expected quarterly earnings and raised its full-year outlook.

XPeng (XPEV) – XPeng fell 4.9% in premarket action after the China-based electric vehicle manufacturer reported a larger-than-expected quarterly loss, though sales beat analysts’ forecasts as total deliveries nearly doubled from a years earlier.

Pinduoduo (PDD) – Pinduoduo plans to launch an international e-commerce platform next month, according to a source with direct knowledge of the case who spoke to Reuters. Pinduoduo rose 2.6% in premarket trading.

The Valley Voice
The Valley Voicehttp://thevalleyvoice.org
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.

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