Take a look at the businesses making headlines earlier than the bell:
Lululemon (LULU) – Lululemon slid 7.1% within the premarket after the athletic attire maker issued a weaker-than-expected outlook. Lululemon reported better-than-expected revenue and income for its newest quarter, however it noticed a smaller-than-expected improve in comparable retailer gross sales.
Costco (COST) – Costco missed estimates on each the highest and backside traces for its newest quarter as inflation-hit customers reduce on spending. The warehouse retailer additionally noticed elevated working bills.
Broadcom (AVGO) – Broadcom shares rallied 3.6% in premarket motion after the chip maker reported better-than-expected quarterly outcomes and an upbeat outlook. The corporate additionally raised its dividend and stated it could resume share buybacks.
Netflix (NFLX) – Netflix gained 3% within the premarket following two optimistic analyst reviews. Wells Fargo upgraded the streaming service’s inventory to obese from equal weight, saying content material development would reduce buyer churn. Cowen named the inventory a “greatest thought” for 2023, pointing to extra monetization avenues together with the brand new ad-supported tier.
DocuSign (DOCU) – DocuSign posted an 11.3% premarket bounce following upbeat quarterly outcomes for the digital signature know-how firm. DocuSign additionally reported better-than-expected billings — a metric that tracks gross sales to new clients — plus subscription renewals and extra gross sales to present clients.
AmerisourceBergen (ABC) – Walgreens (WBA) has reduce its stake within the drug distributor, promoting $1 billion in AmerisourceBergen shares. The transfer cuts Walgreens’ stake to about 17% from 20% and can give Walgreens funds to pay down debt and fund strategic priorities. Walgreens stays AmerisourceBergen’s largest shareholder. AmerisourceBergen fell 2.6% within the premarket.
Bathtub & Physique Works (BBWI) – Bathtub & Physique Works shares jumped 4.9% within the premarket following information that Daniel Loeb’s Third Level has a greater than 6% stake within the private care merchandise retailer. An SEC submitting additionally revealed that Third Level is pushing the corporate to nominate new board members.
RH (RH) – The corporate previously referred to as Restoration {Hardware} beat high and backside line estimates in its newest quarterly report. However the luxurious way of life retailer additionally stated its enterprise would proceed to deteriorate due to accelerating weak point within the housing market. RH rose 1% in premarket motion.
