Take a look at the companies that are making headlines even before the bell rings.
Deere (DE), The heavy equipment manufacturer reported quarterly earnings at $5.32 per share compared to a consensus estimate $4.58. It also beat revenue forecasts. Premarket trading was up 1.1% for Deere (DE) as the company also increased its full-year earnings outlook due to strong demand for farm equipment.
Foot Locker (FL), Foot Locker shares rose 6.2% in premarket following better-than-expected results for its athletic footwear and apparel manufacturer. Foot Locker's adjusted share price was $2.21, which is lower than the $1.01 consensus estimate. Comparable store sales increased 6.9%. Analysts expected a slight decrease in comp sales.
Buckle (BKE). The fashion accessories retailer beat expectations by 18 cents. Quarterly earnings were $1.04 per share and revenue was higher than estimates due to more in-person sales. Premarket trading saw the stock rise 4.6%.
Spotify (SPOT), The music streaming company announced that its board had approved a $1B stock buyback. Paul Vogel, Chief Financial Officer, stated that the move shows the company's confidence and long-term growth potential. Spotify increased its premarket share by 1.1%
Applied Materials (AMAT), a maker of semiconductor manufacturing equipment, beat expectations by 13 cents. It posted an adjusted quarterly profit at $1.90 per share. Analyst predictions were also exceeded by its revenue. The outlook was also better than expected, although Applied Materials shares declined 1.3% in premarket trades.
Ross Stores (ROST), a discount retailer, reported a quarter-end profit of $1.39 per stock, exceeding the consensus estimate of 98 cents. It also reported higher-than-expected revenues. The stock fell 4% in premarket trading as its full-year and current quarter earnings outlooks were not met by analysts.
Johnson & Johnson (JNJ), Chief Executive Officer Alex Gorsky announced plans for retirement on January 3, with company veteran Joaquin Duato taking control and Gorsky taking over the role as executive chairman.
Lordstown Motors, (RIDE), The shares of the electric vehicle manufacturer rose 2.1% in premarket. This is a recovery from the 9.5% Thursday decline that sent the stock to its lowest level since it went public. This occurred after the annual shareholder meeting, which lasted just 10 minutes.
Adobe (ADBE), The software company announced a deal with Frame.io to purchase the cloud-based video collaboration platform Frame.io. It will cost $1.275 billion in cash. This acquisition will expand Adobe's capabilities with its Create Cloud software suite.
Petco (WOOF). Petco gained 2.1% in premarket sales to Thursday's 3.6% gain. Credit Suisse upgraded the stock of the pet products retailer to "outperform" instead of "neutral". Credit Suisse stated that it is more optimistic about the prospects for Petco's business after the company's positive earnings report.
Mosaic (MOS). Based on the expected benefits of higher fertilizer prices, the fertilizer producer was promoted to "buy" at HSBC from "hold".
