Check out the companies making headlines before the bell:
Kohl’s (KSS) – Kohl’s shares are down 7.2% premarket after the retailer lowered its full-year guidance due to increased promotional activity and higher costs. Kohl’s latest quarter beat Street’s forecasts for sales and earnings.
BJ’s Wholesale (BJ) — The warehouse retailer topped estimates by 26 cents with adjusted quarterly earnings per share of $1.06 and revenue also beat guidance. Comparable store sales rose more-than-expected and the stock gained 5.4% in premarket trading.
Tapestry (TPR) – Tapestry ranged between gains and losses in premarket action after its gains beat consensus despite selling that fell slightly short of forecasts. The company behind luxury brands Coach and Kate Spade also increased its quarterly dividend by 20%.
Estee Lauder (EL) – Estee Lauder shares fell 1.3% premarket after the cosmetics maker forecast full-year sales amid Covid-related lockdowns in China. Estée Lauder’s earnings and revenue for the most recent quarter beat Wall Street estimates.
Canadian Solar (CSIQ) – The solar equipment and services company reported better-than-expected quarterly earnings and solar module shipments, which were at the high end of its earlier guidance. Canadian Solar also raised its full-year revenue guidance and its stock rose 6.2% in premarket trading.
Bath & Body Works (BBWI) – Bath & Body Works reported better-than-expected quarterly earnings and revenue, but issued a weaker-than-expected guidance for the current quarter. The personal care retailer also said it has cut 130 jobs to control costs and become more efficient.
Cisco Systems (CSCO) – Cisco is up 5% in premarket trading after beating estimates for revenue and earnings last quarter. The network equipment maker also provided a better-than-expected guidance for the current quarter as supply chain problems ease.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond plummeted 14.4% in the premarket after investor Ryan Cohen filed a letter of intent to sell 7.78 million shares of the home goods retailer. Cohen’s previous call option purchases had contributed to a buying spree at Bed Bath & Beyond, with the stock rising in 15 of the last 16 sessions, more than quintupling in that time.
Wolfspeed (WOLF) – Wolfspeed rose 20.9% in the premarket after the semiconductor company reported a lower-than-expected quarterly loss and earnings that beat consensus estimates. It also forecast a loss for the current quarter that’s far below analysts’ expectations.
DCP Midstream (DCP) – DCP Midstream is up 1.7% in premarket trading after Phillips 66 refiner bid to buy the pipeline operator’s publicly-held shares for $34.75 a share.