US Premarket: Foot Locker, Gap and other stocks making biggest moves

Foot Locker (FL)

Foot Locker shares rallied 14% in the premarket after
beating top and bottom line estimates for its latest quarter. The apparel and
footwear retailer also raised its full-year forecast and reported an unexpected
increase in comparable store sales.

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JD.com (JD)

Shares of the China-based e-commerce company jumped 5.2% in
premarket action after reporting better-than-expected quarterly results as
Covid-induced lockdowns in China prompted more consumers to shop online.

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Gap (GPS)

Shares of the apparel retailer rose 5.1% in the premarket
after reporting unexpected profits and better-than-expected sales. Gap is in
the midst of a turnaround effort that has involved reducing inventories and
streamlining its brand portfolio.

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Williams-Sonoma (WSM)

The housewares retailer’s stock plunged 8.1% in premarket
trading after the company said it would not reiterate or update its guidance
through the financial year 2024 due to economic uncertainty. Williams-Sonoma
posted better-than-expected sales and profit for the July-September quarter.

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Ross Stores (ROST)

Ross Stores soared 16.9% in the premarket after posting
better-than-expected results for the third quarter and an increased forecast
despite soaring prices and holiday season promotions.

Palo Alto Networks (PANW)

Shares of the cybersecurity company surged 9.2% in the
premarket after exceeding Wall Street’s top and bottom line estimates for the
latest quarter. The cybersecurity company also issued slightly improved
guidance as companies increase spending on network security.

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Applied Materials (AMAT)

The semiconductor manufacturing equipment maker’s stock
gained 4.4% in premarket trading after beating top and bottom line estimates.
The company also issued upbeat current quarter guidance.

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Farfetch (FTCH)

The online luxury platform operator’s stock tumbled 9.7% in
premarket action after reporting a wider-than-expected quarterly loss with
sales that also came in below market forecasts.