US Premarket: Express, Wendy’s, Dell and other stocks making biggest moves

Express (EXPR)

Express surged 11.8% in premarket action after reporting better than expected quarterly results. Express lost an adjusted 10 cents per share, narrower than the 15-cent loss anticipated by analysts, and revenue topped forecasts as well. Express also raised its full-year outlook for comparable-store sales.

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Wendy’s (WEN)

Wendy’s jumped 8.8% in premarket trading after long-time shareholder Trian Fund Management said it was exploring an acquisition or other potential deal for the restaurant chain. Trian is the company’s largest shareholder, with a 19.4% stake.

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Dell Technologies (DELL)

Dell gained 1% in the premarket after Evercore added the information technology company to its “Tactical Outperform” list. Evercore said IT demand trends remain strong enough to lead to an earnings beat and a raised outlook when dell releases quarterly earnings on Thursday.

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Nordstrom (JWN)

Shares of the retailer jumped 5.3% in premarket trading after the company raised its annual sales and profit forecast, a contrast to other big-box retailers. Nordstrom reported a slightly wider-than-expected loss for the first quarter, while sales increased 23.5% to surpass pre-pandemic levels.

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Dick’s Sporting Goods (DKS)

Shares of the sporting goods retailer fell 14.4% in the premarket after it issued a weak-than-expected outlook for the full year as it adjusts for what it calls challenging macroeconomic conditions. Dick’s reported a higher-than-expected profit and comparable-store sales that fell less than expected.

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Toll Brothers (TOL)

Shares of the luxury home builder rallied 3.5% in premarket trading after the company beat top and bottom-line estimates for its latest quarter. Toll Brothers said that while demand was still strong, it has moderated amid higher mortgage rates and changing macroeconomic conditions.

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Intuit (INTU)

Intuit shares surged 2.5% in the premarket after reporting higher-than-expected quarterly profit and revenue. The financial software company also raised its outlook for its ongoing quarter on improvement in its QuickBooks business and the addition of recently acquired email marketing firm Mailchimp.