Check out some of the biggest manufacturers in the pre-market:
Nordstrom – Retail shares rose 30.5% in pre-market trading after the company posted better-than-expected results for the fourth quarter. Nordstrom reported earnings of $ 1.23 per share, compared to Refinitiv’s expected consensus estimate of $ 1.02. Revenues also exceeded expectations. The retailer highlighted the improvements in its off-price business, Nordstrom Rack.
Salesforce – Shares of Salesforce rose 4% on the market after the software company’s report for the fourth quarter exceeded Wall Street expectations and issued optimistic guidelines. The company posted adjusted earnings of 84 cents per share on revenue of $ 7.33 billion. Analysts had expected earnings of 74 cents per share on revenue of $ 7.24 billion, according to Refinitiv.
Ford – Ford shares added 4% to pre-market trading after the carmaker announced it would split its electric vehicle business and legacy businesses into separate units. The company expects the move to streamline its growing electric vehicle business and maximize profits.
SoFi – Shares of the digital financial services company rose 15.5% in pre-marketing after the quarterly report of SoFi. SoFi reported a loss of 15 cents per share on revenue of $ 279.9 million compared to Refinitiv’s consensus estimate of a loss of 17 cents per share on revenue of $ 279.3 million.
Ross Stores – Ross Stores added 6.3% to pre-market trading after falling profits. The retailer reported fourth-quarter earnings of $ 1.04 per share on revenue of $ 5.02 billion. Analysts had expected earnings of 87 cents per share on revenue of $ 4.96 billion.
Hewlett Packard Enterprise – Hewlett Packard shares added 5.5% pre-marketing after the company reported a slight decline in earnings for the last quarter, but missed quarterly earnings. Earnings of 53 cents a share for the quarter exceeded analysts’ estimates by 7 cents. Revenue of $ 6.96 billion was below the consensus estimate of $ 7.03 billion.
Abercrombie & Fitch – Shares of Abercrombie & Fitch fell 8.1% before the market after the retailer missed the highest and final ratings. The company posted adjusted earnings of $ 1.14 per share on revenue of $ 1.16 billion. Analysts had expected earnings of $ 1.27 per share on earnings of $ 1.18 billion, according to StreetAccount.
First Solar – Shares of First Solar sank 12.4% after the company missed expectations for earnings for the fourth quarter. The manufacturer of solar panels also issued weak guidelines for the whole year.
Dollar Tree – Dollar Tree shares were 1% higher before the market after a better than expected report for the fourth quarter. The company reported earnings of $ 2.01 per share compared to StreetAccount’s consensus estimate of $ 1.78 per share. Revenues slightly missed analysts’ forecasts.
DraftKings – Shares of DraftKings rose 2.3 percent before the bell, after Morgan Stanley called sports betting stocks the best choice. “We expect the online sports betting / iGaming market in the United States to be very large, with several winning market shares, including DKNG,” said Morgan Stanley.