Cisco Systems (CSCO)

Cisco plunged 10.7% in premarket trading after cutting
its full-year forecast. The networking equipment maker’s sales are being hurt
by Covid lockdowns in China and the war in Ukraine. Networking competitors fell
in the wake of Cisco’s forecast with Juniper Networks (JNPR) falling 4.6% and
Broadcom (AVGO) declining 3.8% in the premarket.

Kohl’s (KSS)

Kohl’s shares declined 3.3% in premarket trading after it
reported adjusted quarterly earnings of 11 cents per share, significantly short
of the 70-cent consensus estimate. Revenue was higher than expectations, but
the retailer noted a tough sales environment and higher costs.

Also Read | Donald Trump makes Twitter comeback with Truth Social posts, banned

Spirit Airlines (SAVE)

Spirit shares fell 1.7% in premarket trading after the
airline’s board unanimously recommended that shareholders reject JetBlue’s
(JBLU) $30 per share tender offer. According to Spirit, a JetBlue merger would
have little chance of passing regulatory hurdles, and it will move forward with
its merger plan with Frontier Group (ULCC), the parent company of Frontier
Airlines.

Bath & Body Works (BBWI)

Bath & Body Works slumped 6.8% in the premarket after
reporting better-than-expected profit and revenue for its latest quarter, but
the personal care products retailer cut its full-year earnings forecast due to
inflationary factors and increased investments.

Also Read | Why wealth inequality feeds into a poverty loop

BJ’s Wholesale (BJ)

The stock price jumped 5.8% in the premarket after the
warehouse retailer released an encouraging earnings report. BJ’s Wholesale
reported adjusted quarterly earnings of 87 cents per share, 15 cents above the
estimates. Revenue and comparable-store sales were also better than expected.

Canada Goose (GOOS)

Shares of the outerwear maker rallied 8.9% in the
premarket after it reported an unexpected profit and better-than-expected revenue.
Canada Goose also raised its full-year forecast.

Also Read | Oil prices rebound from initial losses as global supply concerns persist

Under Armour (UAA)

Under Armour fell 5.3% in premarket action after its CEO
Patrik Frisk stepped down, as of June 1, to be replaced on an interim basis by
Chief operating Officer Colin Browne. Frisk became CEO of the athletic apparel
maker at the beginning of 2020, just before the Covid-19 pandemic hit. Sales
have declined nearly 50% since then.

Synopsys (SNPS)

Synopsys jumped 4.2% in premarket action after the design
automation software company reported higher-than-expected profit and revenue
for its latest quarter and issued an upbeat forecast.

Also Read | Russia’s economic growth slumps amid Ukraine war, experts say worse to come

Target (TGT), Walmart (WMT)

The two major retailers remain under review after both
witnessed their worst one-day drops since October 1987 following their
quarterly earnings reports this week. A rise in costs led both to report
earnings that came significantly below expectations.