Foot Locker, Tesla, Peloton fall premarket; Kohl's, Urban Outfitters rise
Investing.com — U.S. futures traded higher Wednesday, as investors digested more corporate earnings, particularly from the retail sector, ahead of the release of numbers from chip designer Nvidia (NASDAQ:NVDA).
Here are some of the biggest premarket U.S. stock movers today:
Kohl’s (NYSE:KSS) stock rose 3.5% after the department store operator beat quarterly profit estimates, as leaner inventories, lower costs, and fewer discounts helped to counter a broader retail slowdown.
Foot Locker (NYSE:FL) stock slumped 31.4% after the sportswear retailer reported another quarter of falling sales, paused quarterly dividends, and slashed its outlook for the second time this year, blaming “consumer softness.”
Urban Outfitters (NASDAQ:URBN) stock rose 4.8% after the apparel retailer beat expectations for the second quarter as same-store sales rose, driven by growth in retail stores and online sales.
La-Z-Boy (NYSE:LZB) stock fell 1.6% after the furniture manufacturer said the industry will remain «challenged,» with a potential seasonal boost.
Toll Brothers (NYSE:TOL) stock rose 0.4% after the homebuilder beat expectations for third quarter profit, as demand for luxury homes in a tighter resale market boosted new home sales.
WeWork (NYSE:WE) stock fell 5.1% after the New York Stock Exchange suspended trading in the workspace provider's warrants.
Tesla (NASDAQ:TSLA) stock fell 2.6% after a report by Business Insider said the EV manufacturer has lowered the production target of its German plant to 4,350 a week in July and August after hitting 5,000 a week in March and plans to reduce it further.
Stellantis (NYSE:STLA) stock fell 0.5% after Bloomberg News reported that the auto giant is exploring options to partner with a Chinese
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