Stocks Making The Biggest Moves In The Premarket: Best Buy, Palo Alto Networks, Camping World And More
Best Buy (BBY) – Best Buy shares rallied 4.3% in the premarket after the electronics retailer beat estimates on the top and bottom lines for the second quarter. Best Buy earned $2.98 per share, compared to a $1.85 a share. consensus estimate. Comparable-store sales rose a better-than-expected 19.6%.
Palo Alto Networks (PANW) – Palo Alto Networks surged 11.9% in the premarket, after being estimates by 16 cents a share, with quarterly earnings of $1.60 per share. The cybersecurity company’s revenue was also above estimates, and it issued an upbeat outlook as well.
Camping World (CWH) – The maker of RVs and other recreational products announced it would double its quarterly dividend to 50 cents per share from 25 cents a share, payable on September 28 to shareholders of record on September 14. Camping World shares rallied 6% in premarket trading.
Advance Auto Parts (AAP) – The auto parts retailer reported quarterly profit of $3.40 per share, beating the consensus estimate of $3.04 a share. Revenue came in slightly above forecasts. Comparable-store sales grew 5.8%, slightly shy of the 6% consensus estimate. Advance Auto raised its full-year forecast for overall sales and for comparable-store sales growth. Its shares fell 1% in premarket action.
Medtronic (MDT) – The medical device maker beat estimates by 9 cents a share, with quarterly profit of $1.41 per share. Revenue also topped consensus estimates, helped by a rebound in demand as patients underwent non-urgent procedures that had been delayed by the pandemic. Medtronic added 1.8% in the premarket.
Cigna (CI) – The insurance company’s shares rose 1.1% in premarket trading after it announced a $2 billion accelerated stock repurchase agreement.
Didi Global (DIDI) – Didi Global climbed 3.9% in the premarket, extending Monday gains on reports that it would suspend plans to launch its ride-hailing service in the U.K. and continental Europe.
Las Vegas Sands (LVS), Wynn Resorts(WYNN) – Las Vegas Sands rallied 2.6% in premarket action, with Wynn Resorts up 2.5%. The casino operators are trading higher following the easing of travel curbs in Macau, amid an improving outlook for Covid-19 cases.
Cara Therapeutics (CARA) – The drugmaker’s stock soared 19.8% in premarket trading after it received Food and Drug Administration approval for its Korsuva injection, designed to treat a kidney disease-related condition known as pruritis.
Netflix (NFLX) – The video streaming service’s stock remains on watch after rising for the past seven sessions and gaining 8.4% over that stretch.
JD.com (JD), Alibaba (BABA), Baidu(BIDU), Pinduoduo (PDD) – Investors are scooping up China-based tech stocks, in a rebound from a slump that followed the implementation of new rules for tech companies by the Beijing government. JD.com jumped 7.7% in the premarket, with Alibaba up 4.7%, Baidu up 4.2% and Pinduoduo rising 4.6%. Pinduoduo had been higher earlier but pared gains after reporting lower-than-expected revenue for its latest quarter.
– CNBC