Check out the companies making headlines ahead of the hour:
Dollar Tree (DLTR)- The discount retailer’s stock fell 6.6% in premarket trading after cutting its full-year earnings forecast, due to the impact of price-related investments in its Family Dollar stores. Dollar Tree reported better-than-expected profit for its latest quarter, with revenue in line with Wall Street estimates.
Peloton (PTON) – Peloton fell 17.5% in premarket trading after reporting an expected loss and revenue that fell well short of Street forecasts. Peloton also said its connected fitness business will remain challenging through 2023.
Abercrombie & Fitch (ANF) – Abercrombie shares hit 10.5% in premarket after the apparel retailer reported an unexpected quarterly loss and lower-than-expected revenue numbers. It also cut its full-year sales forecast, citing the impact of inflation.
Dollar General (DG) – Dollar General reported better-than-expected quarterly results, as well as same-store sales that rose more than analysts expected. The discount retailer increased its share repurchase authorization. The stock was higher in the premarket but turned negative after rival Dollar Tree cut its full-year forecast.
Salesforce ( CRM ) — Salesforce fell 6.3% in premarket trading after the business software giant cut its full-year guidance, as economic uncertainty slowed the pace of customer deals. Salesforce posted better-than-expected sales and profit in its most recent quarter.
Nvidia (NVDA) – Nvidia fell 3.6% in the premarket after quarterly results missed estimates on the top and bottom lines. The graphics chipmaker also issued a subdued forecast, as its gaming business continues to deal with weak demand.
Autodesk (ADSK) – The design software maker’s stock rose 9.2% in premarket action after it issued an optimistic financial forecast and called demand “strong.” It reported better-than-expected results for its latest quarter.
Snowflake (SNOW) – Snowflake shares rose 19% in after-hours trading after the data software company reported better-than-expected quarterly earnings. CEO Frank Slootman said the company’s usage-based model — which allows customers to adjust how much they use Snowflake’s services after signing a contract — is proving to be an advantage.
Telehealth stocks – Shares of telehealth companies rose after news that Amazon.com ( AMZN ) was shutting down its internal telehealth service for employees. Teladoc Health ( TDOC ) rose 5.5%, Hims & Hers Health ( HIMS ) added 1.1% and Amwell ( AMWL ) rose 7.7%.
Callaway Golf (ELY) – Up 2.1% in the premarket after Callaway Golf announced plans to change its name to the Callaway brand, to reflect a lifestyle approach to its golf equipment and apparel offerings. The name change will take effect on or around September 6
Victoria’s Secret (VSCO) – Victoria’s Secret lost 3.7% in premarket trading after the women’s underwear maker cut its full-year outlook. The company said it expects its customers to be affected by inflation and other financial challenges.