Stocks making the biggest moves premarket: Tesla, Tapestry, Big Lots, Uber, Ulta & more

Stocks making the biggest moves premarket: Tesla, Tapestry, Big Lots, Uber, Ulta & more
By: WNG CNBG Posted On: December 06, 2019 View: 37

Stocks making the biggest moves premarket: Tesla, Tapestry, Big Lots, Uber, Ulta & more

Check out the companies making headlines before the bell:

Tapestry (TPR) – The parent of the Coach and Kate Spade brands was downgraded to "in line" from "outperform" at Evercore, based on a shift by consumers to a more casual lifestyle with an emphasis on sneakers and athletic wear.

Big Lots (BIG) – The discount retailer reported an adjusted loss of 18 cents per share for its latest quarter, 2 cents a share smaller than expected. Revenue came in slightly above Street forecasts. Comparable-store sales were down 0.1%, versus the 0.1% increase predicted by analysts surveyed by Refinitiv. Big Lots also said it expects a return to earnings growth in 2020.

Genesco (GCO) – The apparel and footwear seller earned an adjusted $1.33 per share for the third quarter, beating the $1.08 per share consensus estimate. Revenue was below forecasts, but a comparable-store sales increase of 3% beat the 1.7% estimate of analysts surveyed by Refinitiv. Genesco also raised its full-year earnings outlook.

Tesla (TSLA) – Morgan Stanley raised its "bull case" price target on Tesla to $500 a share from $440 per share. The firm's overall price target for the automaker's stock remains at $250, but the report said the bull case could play out if the Cybertruck is a success and a more optimistic scenario in China comes to pass.

Ulta Beauty (ULTA) – Ulta reported quarterly earnings of $2.25 per share, 12 cents a share above estimates. Revenue and comparable sales were essentially in line with forecasts. Ulta's results were boosted by sales of its higher-margin cosmetics products.

American Outdoor Brands (AOBC) – American Outdoor beat estimates by 2 cents a share, with adjusted quarterly profit of 9 cents per share. The Smith & Wesson parent's revenue also came in above estimates and the company boosted its full-year outlook as gun demand stabilizes.

Zoom Video Communications (ZM) – Zoom Video earned an adjusted 9 cents per share for its latest quarter, 6 cents A share above estimates. The video platform provider's revenue beat Street forecasts as well, however its shares came under pressure on signs that revenue growth is slowing.

CrowdStrike (CRWD) – CrowdStrike lost 7 cents per share for its third quarter, smaller than the 11 cents a share loss expected by Wall Street. The cybersecurity company's revenue beat estimates as well, and the company projected smaller-than-expected losses for the current quarter. CrowdStrike saw a key metric — annual recurring revenue — nearly double from a year earlier. The stock initially tumbled in off-hours trading, due to a typo that left out a digit in the press release detailing its revenue outlook. The stock rebounded strongly once a correction was issued.

Uber Technologies (UBER) – Uber said it received more than 3,000 reports of sexual assault in the U.S. last year, down 16% from a year earlier. The numbers come from the ride-hailing company's first U.S. Safety Report, which it plans to issue every two years in an effort aimed at showing its focus on rider safety. The report also details the company's safety improvement efforts.

DocuSign (DOCU) – DocuSign reported adjusted quarterly earnings of 11 cents per share, compared to a consensus estimate of 3 cents a share. The electronic signature technology company's revenue was also above Street forecasts.

Okta (OKTA) – Okta lost an adjusted 7 cents per share for the third quarter, smaller than the 12 cents a share loss predicted by analysts. The identity technology company also reported revenue that exceeded expectations.

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