Take a look at some of the biggest movers in the premarket:
Target (TGT) — Shares of the big-box retailer rallied 11% in premarket trading after Target said it expects growth to continue even after its pandemic-era gains. Target posted adjusted fourth-quarter earnings of $3.19 per share on revenue of $31 billion. Analysts surveyed by Refinitiv expected a profit of $2.86 per share on revenue of $31.39 billion.
Kohl’s (KSS) — Shares of Kohl’s rose more than 5% in the premarket after the company gave upbeat guidance for fiscal year 2022. The retailer beat earnings expectations in the fourth quarter but missed the Refinitiv consensus sales estimate.
AutoZone (AZO) — AutoZone shares added 3.6% in early morning trading after a better-than-expected earnings report. The company reported second-quarter earnings of $22.30 per share on revenue of $3.37 billion. Analysts surveyed by Refinitiv had expected a profit of $17.79 per share on revenue of $3.17 billion.
Kroger (KR) — Shares of Kroger rose more than 2% in the premarket after Telsey upgraded the grocery store chain ahead of its earnings report. “We believe we have higher visibility and confidence into Kroger’s multi-year omni-channel growth runway,” Telsey’s Joseph Feldman said.
Foot Locker (FL) — Foot Locker shares retreated 3% in premarket trading after Goldman Sachs became the latest Wall Street firm to downgrade the athletic retailer after a disappointing update Friday. Barclays and B. Riley on Tuesday both also downgraded Foot Locker.
Workday (WDAY) — Shares of Workday rose more than 7% in premarket trading after the software company beat expectations for its quarterly results. The company reported a profit of 78 cents per share, topping the Refinitiv estimate of 71 cents per share. Revenue also surpassed projections.
HP Inc. (HPQ) — Shares of HP dipped 2% in premarket trading even after an earnings beat. The company posted adjusted earnings of $1.10 per share versus the Refinitiv estimate of $1.02 per share. Sales also topped expectations.
Lucid Group (LCID) — Shares of Lucid Group tanked more than 12% premarket after a disappointing quarterly report. The electric vehicle maker reported a wider-than-expected loss of 64 cents per share compared with the Refinitiv consensus estimate loss of 25 cents per share. Revenue also missed expectations.
Zoom Video (ZM) — Zoom shares lost 2.5% in premarket trading after the video conferencing platform issued full-year guidance below what analysts had predicted. The company beat earnings and revenue expectations.
Novavax (NVAX) — Shares of Novavax fell 6.6% premarket after the company missed on the top and bottom line of its quarterly report. Novavax posted a loss of $11.18 per share on revenue of $222.2 million.