Stocks making the biggest moves premarket: Capri Holdings, Salesforce, Weibo and others
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Check out the companies making headlines before the bell:
Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above estimates, and managed to expand profit margins in the face of pandemic-related issues. However, the company issued a lighter-than-expected revenue forecast for the full year.
HP Inc. (HPQ) – HP beat estimates by 3 cents with an adjusted quarterly profit of $1.08 per share. The computer and printer maker's revenue also topped Street forecasts. HP raised its profit outlook, benefiting from strong commercial customer demand despite supply chain disruptions.
Salesforce (CRM) – Salesforce rallied 9.1% in the premarket after beating analyst estimates by 4 cents with an adjusted quarterly profit of 98 cents per share. The business software giant also beat revenue forecasts and raised its full-year guidance amid continued strong demand.
Victoria's Secret (VSCO) – Victoria's Secret jumped 6.8% in premarket trading despite posting a mixed quarter. The intimate apparel retailer's adjusted earnings of $1.11 per share for its latest quarter beat the 84-cent consensus estimate, and revenue matched forecasts. Current-quarter earnings guidance fell below some forecasts. The company was able to negate the bottom-line impact of supply chain issues and muted consumer spending.
Weibo (WB) – The China-based social media company reported better-than-expected profit and revenue for its latest quarter. The company added users and called its ad business «relatively resilient» in the
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