Check out the companies that make headlines before the bell:
Carmax (KMX) – Auto retailer stocks are 5.1% in premarket trading after CarMax surpasses top and bottom line estimates in the most recent quarter and records comparable dealer sales above analysts’ expectations. It soared.
Tesla (TSLA) – Tesla’s stock rose 3.4% in front of the market after CEO Elon Musk said he had sold enough stock to meet his goal of selling 10% of his stock. However, in the meantime, Musk has actually increased his holdings in Tesla by exercising his options.
BlackBerry (BB) – BlackBerry reported a break-even quarter on an adjusted basis, compared to analysts’ forecast of a loss of 7 cents per share. Telecommunications software makers have also seen outperforming estimates, supported by strong demand for cybersecurity products, but the current quarterly forecasts for these products are shy to some analysts’ estimates.
Caterpillar (CAT) – Caterpillar rose 1.6% in the premarket after Bernstein upgraded heavy equipment manufacturers’ inventories from “market performance” to “outperform”. Bernstein said concerns about the machine upgrade cycle ending in 2022 were overkill.
CalAmp (CAMP) – CalAmp lost 8 cents per share adjusted in the last quarter. This surprised analysts who were hoping for a profit of 8 cents per share. Manufacturers of wireless data and software also have lower-than-expected revenues and component shortages are a key factor in impacting performance. CalAmp plummeted 15.7% in pre-market action.
Alibaba (BABA) – Alibaba shares fell 4% in front of the market after Atlantic Equities downgraded shares of Chinese e-commerce companies from “overweight” to “neutral.” The company raises concerns that Alibaba’s shopping platforms Tmall and Taobao will not improve in the short term.
Darden Restaurant (DRI) – Darden Restaurants has been upgraded from Stiffel Financial’s “Hold” to “Buy”. This shows the bright quarterly performance of Olive Garden parents last week. After the report, stock prices fell, which Stiffel believes was due to CEO Jean Lee’s announcement that he would retire in May. Darden added 1.1% on pre-market transactions.
Williams Sonoma (WSM) – Williams-Sonoma has been upgraded from Loop Capital’s “hold” to “buy”. It believes that household goods retailers will have a “premier” brand and the tailwinds of the pandemic will continue until 2022.
Coinbase Global (COIN) – Cryptocurrency infrastructure companies were named “Top Pick” by Oppenheimer in 2022. This shows that the transition of digital assets to the mainstream is accelerating.
CarMax, Tesla, BlackBerry, etc.
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