Check out the companies making headlines before the bell:
Deere (DE) – Deere slipped 5.2% in premarket trading after the heavy equipment maker missed quarterly profit estimates despite higher-than-expected sales. Deere earned $6.16 per share, below the consensus estimate of $6.69, as it successfully executed price increases but also faced higher costs. The company also lowered its full-year guidance.
FOOT LOCKER (FL) – Foot Locker rose 17.4% in the premarket market after the athletic footwear and apparel retailer’s quarterly earnings beat analysts’ forecasts and the company also announced a CEO change. Former Ulta Beauty (ULTA) CEO Mary Dillon will replace Richard Johnson as CEO on September 1st.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond plunged 42.7% in premarket trading after it was announced that investor Ryan Cohen was selling his entire stake in the home goods retailer for a gain of more than $58 million had scored.
Ross Stores (ROST) – Ross Stores reported better-than-expected earnings for the most recent quarter, but sales came in below Wall Street forecasts and the company issued a weaker-than-expected full-year outlook. The company said its results were impacted by higher costs and increased advertising activity. The stock fell 1% premarket.
Applied Materials (AMAT) — Applied Materials beat estimates by 15 cents with adjusted quarterly earnings of $1.94 per share, and the semiconductor manufacturing equipment maker also saw sales forecasts spike. It also gave an upbeat revenue forecast for the current quarter as chipmakers ramp up production.
Coinbase (COIN) – Shares of the crypto exchange operator slipped 8.6% in premarket trading, falling in sympathy with the sudden drop in bitcoin prices overnight. Microstrategy (MSTR), the business analytics firm with extensive Bitcoin holdings, saw its price fall 9.3%.
Home Depot (HD) – Home Depot announced a new $15 billion stock repurchase program, replacing a prior approval. The home improvement retailer also announced that CEO Ted Decker will replace former CEO Craig Menear as chairman effective October 1.
Madison Square Garden Entertainment (MSGE) – Madison Square Garden Entertainment rose 7.3% premarket after it was announced that its board is considering a spin-off that would include the company’s live entertainment and MSG Networks businesses.
Bill.com (BILL) – Bill.com rose 18.5% in premarket trading after the financial back-office software provider released better-than-expected quarterly results and upbeat guidance.