Check out the companies making headlines before the bell. Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. Piper Sandler believes gross margin expansion and efficiency gains are upside catalysts for the stock. Peloton — Shares of the connected fitness company slid about 2.4%, a day after Peloton popped roughly 35% on strong quarterly results that reflected a return to sales growth for the first time in nine quarters as it slashed its costs. Peloton gave a mixed outlook for the year ahead. JPMorgan also downgraded the stock after Thursday’s rally. Warby Parker — The glasses retailer jumped 6% after JMP Securities upgraded shares to outperform from market perform. The firm forecasts more constructive commentary from Warby Parker’s management in the quarters ahead. Las Vegas Sands — Shares of the casino and resort company slipped 1.6% following a downgrade to neutral from buy at UBS. The investment firm cited ongoing challenges in the Macau segment recovery. BJ’s Wholesale Club — The wholesale retailer rose more than 1% on an upgrade to overweight from equal weight by Wells Fargo. The bank believes the company’s strategic shifts point toward fundamental progress despite disappointing second-quarter results. Bill.com — Shares of the packaged software company rose 3% after a stronger-than-expected report for the firm’s fiscal fourth quarter. Bill.com reported 57 cents in adjusted earnings per share on $344 million of revenue. Analysts surveyed by LSEG were looking for 46 cents per share on $328 million of revenue. The company also announced a $300 million stock buyback plan. Ross Stores — Shares of the off-price retailer rallied more than 5%. The company topped earnings estimates by 9 cents a share and matched revenue estimates of $5.25 billion. Workday — The human capital management company rallied 12.7% on better-than-expected results for the fiscal fourth quarter. Workday posted adjusted earnings per share of $1.75 on $2.09 billion in revenue. Analysts polled by LSEG had forecasted $1.65 earnings per share and revenue of $2.07 billion. — CNBC’s Samantha Subin, Jesse Pound and Pia Singh contributed reporting
https://image.cnbcfm.com/api/v1/image/106136236-1568814482074gettyimages-951174586.jpeg?v=1680537346&w=1920&h=1080
Source link
