Take a look at the companies that made headlines before the bell: Abercrombie & Fitch – Shares of the retailer, which owns the Abercrombie and Hollister banners, fell more than 9% after the company reported a 21% increase in sales during the second fiscal quarter and issued bullish guidance for the current period. Abercrombie posted earnings of $2.50 per share on revenue of $1.13 billion, beating earnings expectations of $2.22 per share on revenue of $1.10 billion, according to analysts surveyed by LSEG. Nordstrom – Shares in the retailer rose more than 1% after second-quarter earnings beat expectations, as the company lifted the lower end of its full-year guidance. Nordstrom expects fiscal 2024 earnings between $1.75 and $2.95 per share, down from a previous estimate of $1.65 to $2.05. The department store earned 96 cents per share in the second quarter, while analysts surveyed by LSEG had expected 71 cents. JM Smucker – The consumer foods company fell about 4% after lowering its full-year guidance, posting quarterly revenue of $2.13 billion, in line with analyst estimates, according to FactSet. However, earnings of $2.44 per share exceeded expectations, as analysts had expected earnings of $2.17 for the period. Nvidia – Shares were little changed as Wall Street prepared for the chip giant’s earnings report after the bell. Analysts will be paying close attention to the company’s forecasts and commentary on production of its Blackwell chips, following reports of delays. Bath & Body Works – The fragrance retailer lost about 4% after reporting disappointing second-quarter earnings and lowering its full-year guidance. Bath & Body Works posted earnings of 37 cents per share, excluding items, on $1.53 billion for the quarterly period. Analysts polled by FactSet, meanwhile, had called for adjusted earnings of 36 cents per share on revenue of $1.54 billion. The company’s management said it is taking a “cautious approach” to its outlook given sales trends and a changing macroeconomic environment. Box – The cloud storage company rose 6% on better-than-expected second-quarter earnings and revenue. Box posted adjusted earnings of 44 cents per share on revenue of $270 million, while analysts surveyed by LSEG expected Box to earn 40 cents per share on revenue of $269 million. Foot Locker – Shares fell more than 8% in the premarket after the company reported lackluster second-quarter results. The company posted a loss of 5 cents per share, excluding items, on revenue of $1.9 billion. Analysts polled by LSEG expected a loss of 7 cents per share on revenue of $1.89 billion. However, the retailer posted same-store sales growth for the first time in six quarters. nCino – Shares fell almost 14%. The cloud-based banking platform provided weaker-than-expected guidance for the third quarter, although second-quarter results beat expectations. The nCino forecast revised third-quarter earnings per share to 16 cents from 15 cents, which was slightly lower and in line with the FactSet consensus earnings forecast of 16 cents per share. Revenue expectations of $136 million to $138 million came in lower than the expected $138.6 million. Super Micro Computer – Shares of the server company fell more than 2% as investors continued to digest a short seller’s report on Tuesday that focused on the company’s accounting practices. The stock closed 2.6% lower during Tuesday’s trading session after the report was released. PVH – The company, which owns Tommy Hilfiger and Calvin Klein, saw its shares fall more than 8% after offering a bleak outlook for the third quarter. PVH expects third-quarter adjusted earnings of $2.50 per share, which is substantially lower than the $3.12 per share expected from analysts surveyed by LSEG. The company also expects sales to decline 6% to 7% from the same period last year, exceeding analyst expectations for a 4.6% decline. Ambarella – The semiconductor developer gained nearly 20% after giving a positive third-quarter revenue outlook of between $77 million and $81 million. That compares with a $69 million forecast from analysts surveyed by LSEG. Ambarella also surpassed analysts’ top- and bottom-line estimates for the second quarter. Coinbase, MicroStrategy – Stocks tied to crypto fell lower as the price of bitcoin fell below $60,000 amid a wave of liquidations on the Bybit exchange. Both Coinbase and MicroStrategy shares fell more than 1%. – CNBC’s Fred Imbert, Samantha Subin, Jesse Pound, Brian Evans and Sarah Min contributed reporting.
Stocks making the biggest moves before the market: SMCI, ANF, BOX, FL
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