Check out the companies making headlines before the bell:
Messi (M) — Macy’s is up 15% in the primary market after posting better-than-expected first-quarter earnings and revenue and raising its full-year earnings forecast. The results got a boost from strong demand for clothing as people returned to work and other activities outside the home.
general dollar (DG) — General Dollar stocks rose 10.1% in premarket trading after their quarterly results beat Wall Street expectations, and comparable-store sales fell less than expected. The general dollar also boosted same-store sales expectations as more shoppers are heading to discount stores amid rising inflation.
dollar tree (DLTR) — Like its rival Dollar General, Dollar Tree reported better-than-expected results higher and lower for the fourth quarter as similar-store sales doubled street expectations. Dollar Tree is up 12.3% in pre-market trading.
Twitter (TWTR) — Twitter shares are up 5.6% in the primary market, following news that Elon Musk will commit more of his own fortune to fund the company’s $44 billion acquisition. The SEC filing showed that Musk pledged $33.5 billion in equity, up from $27.25 billion previously.
Medtronic (MDT) — The medical device maker’s latest quarterly results missed analyst estimates as it felt the impact of global supply chain issues. Medtronic shares fell 3.3 percent in the primary market.
Ali Baba (BABA) — The Chinese e-commerce giant’s latest quarterly earnings and earnings beat analyst estimates, helped by increased online demand amid China’s Covid-19 lockdowns. Alibaba shares rose 4.5 percent in pre-market trading.
Baidu (BIDU) — Baidu jumped 5.6% in pre-market trading, as the search engine giant beat estimates in its latest quarter despite the negative impact of the Covid lockdowns in China. Baidu saw strong growth during the quarter in its cloud-based services.
nvidia (NVDA) — Nvidia fell 4.2% in the primary market after the graphics chip maker issued weaker-than-expected guidance for the current quarter, indicating supply chain issues and slowing business in Russia. Nvidia reported better-than-expected earnings and revenue for the fourth quarter.
Williams Sonoma (WSM) — Williams-Sonoma jumped 8.2% in pre-market trading, after quarterly earnings and revenue and a similar sales increase more than tripled consensus estimates. The home furnishings retailer repeated its previous full-year guidance – unlike many other retailers – expects profit margins to remain flat.
snowflake (SNOW) — Snowflake reported better-than-expected earnings and revenue for the fourth quarter, but the cloud data platform provider said some of its customers are spending more cautiously due to the uncertain macroeconomic environment. As a result, the shares fell 13.3% in pre-market activity.
Nutanix (NTNX) — Nutanix stock is down 35.4% in premarket trading after the cloud computing company released a weaker-than-expected outlook. Nutanix cited supply chain issues that affected its hardware partners, among other factors.