Check out the companies that make headlines before the alarm goes off:
Apple (AAPL) – Apple lost 2.2% in the money market after BofA Securities downgraded it to neutral against buy. BofA said Apple has held up relatively well in a bear market, but it is expected to have a negative impact on the company from weakening consumer demand.
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CarMax (KMX) – CarMax stock fell 12.1% in pre-market trading after the auto retailer missed estimates for both profit and profit for the most recent quarter. CarMax said “affordability challenges” caused sales to plummet in the final months of the quarter.
Outdoor shower bed (BBBY) – The home appliance retailer posted a wider-than-expected quarterly loss and sales fell short of consensus. Gross margin fell as the company moved to eliminate excess inventory and shares fell 5.5% in the money markets.
aid (RAD) – Rite Aid posted a smaller-than-expected loss for its most recent quarter, and the drug store operator’s revenue was slightly higher than analysts’ forecasts. However, Rite Aid cut its adjusted earnings guidance range for the full year, and its shares fell 14.2% in pre-market action.
Resorts in Vail (MTN) – The resort operator’s stock jumped 4.1 percent in pre-market trading after it reported a smaller-than-expected quarterly loss and revenue that beat analysts’ expectations. . Vail said it is seeing strong demand for ski season passes, and full-year sales have rebounded to pre-pandemic levels.
MillerKnoll (MLKN) – MillerKnoll fell 7.3% in the crypto market after its quarterly profit beat analysts’ estimates, despite a small drop in revenue. The office furniture maker noted the difficult macroeconomic environment and announced various steps to improve profitability and short-term cash flow, including reduced spending and a voluntary retirement program.
PG&E (PCG) – The utility has applied for permission from California regulators to spin off its non-nuclear power generation assets into an independent subsidiary. Shares rose 1.2% in pre-market trading.
Jefferies Financial (JEF) – Shares of Jefferies rose 1.6% in trading before posting better-than-expected quarterly profit. The investment firm’s results were supported by upbeat commercial banking results that offset the drop in trading activity.
Mysterious Oil (OXY) – Berkshire Hathaway (BRK.B) purchased an additional 5.99 million shares of Occidental Petroleum this week, according to SEC filings. That increased Berkshire’s stake in the energy producer to 20.9%. The purchase came after Occidental shares lost about 20% of their value in less than a month. Occidental added 1% in pre-market trading.
Discovery of Warner Bros. (WBD) – The media giant is being sued by shareholders for allegedly making false statements about the performance of its HBO Max streaming service prior to the merger of Discovery Communications and Discovery Communications. AT&T’s Warner Media Unit. Shares fell 1.6% in money markets.
