Stocks making the biggest moves premarket: Petco, Brinker International, Nordstrom
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Check out the companies making headlines before the bell:
Petco (WOOF) – The pet products retailer fell short of Street forecasts on both the top and bottom lines for its latest quarter, and cut its full year outlook as it faced higher costs. Petco shares fell 5.3% in the premarket.
Brinker International (EAT) –The parent of the Chili's and Maggiano's restaurant chains saw its stock slide 8.1% in premarket trading after it missed estimates with its quarterly earnings, impacted by higher costs. It also issued a lower than expected full-year outlook.
Nordstrom (JWN) – Nordstrom shares tumbled 13.2% in the premarket after the retailer cut its full year outlook, saying foot traffic had diminished at the end of its most recent quarter and that it was aggressively working to cut inventory levels. Nordstrom reported better than expected profit and revenue for its second quarter.
Toll Brothers (TOL) – Toll Brothers slid 2.6% in premarket trading after the luxury home builder cut its deliveries guidance for the year amid supply chain issues and labor shortages. For its most recent quarter, Toll Brothers reported better than expected earnings but saw revenue fall short of Street forecasts.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond surged 15.6% in premarket action after the Wall Street Journal reported that the housewares retailer had lined up financing to shore up its liquidity.
Urban Outfitters (URBN) – Urban Outfitters fell 2.8% in the premarket after the apparel retailer reported lower than expected quarterly profit. Urban Outfitters saw improved sales in its stores as customer traffic increased, but also reported a decline in digital sales.
La-Z-Boy (LZB) – La-Z-Boy shares staged a 6.6% premarket rally
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