US Premarket: Deere, Boeing, DoorDash and other stocks making biggest moves
- Boeing shares jumped 2% after the successful launch of its Starliner aircraft
- DoorDash stock jumped 2.2% in premarket action
- Deere fell 4.4% in the premarket after quarterly revenue missed market estimates
Shares of the heavy equipment maker fell 4.4% in the premarket after quarterly revenue missed market estimates. Deere reported earnings of $6.81 per share, beating earnings estimates by 10 cents, as a jump in worldwide crop prices helped spur demand. It also raised its full-year profit outlook.
DoorDash stock jumped 2.2% in premarket action after the company announced the authorization of a $400 stock buyback program. The food delivery company said the move will offset dilution stemming from its employee stock compensation program.
Boeing shares jumped 2% in the premarket after the successful launch of its Starliner aircraft, which is now heading toward the International Space Station. The uncrewed flight came after months of delays.
Foot Locker (FL)
Foot Locker shares surged 1% in premarket trading after reporting an adjusted quarterly profit of $1.60 per share, 5 cents above estimates. The athletic footwear and apparel retailer’s revenue was marginally below forecasts, and same-store sales fell by less than half of what was expected by analysts.
VF Corp. (VFC)
The stock rose 2.6% in premarket trading despite marginally missing the top and bottom lines for the latest quarter. The company behind apparel brands, such as North Face, Vans and Timberland, raised its annual earnings outlook, based on expectations that there will be no additional Covid-19 lockdowns that impact production and that inflation will not worsen.
Deckers Outdoor (DECK)
Deckers' shares rose 13.8% in premarket trading after beating top and bottom-line estimates for its latest quarter. Deckers reported earnings of $2.51 per share, above the consensus estimate of $1.32, as net income more than doubled from a year ago.
Ross Stores (ROST)
Ross Stores tumbled 27.4% in premarket action after the discount retailer posted top and bottom-line misses for its latest quarter and gave a downbeat forecast. The company said inflationary pressures have been worsened by the Ukraine conflict and that it is issuing conservative guidance due to uncertain macroeconomic conditions.