Welcome to Extreme Investor Network, your go-to source for all things finance and investment-related. Today, we are looking at some of the companies making headlines before the bell, providing you with valuable insights to help you make informed decisions in the market.
Chewy, the popular pet retailer, saw its stock rise more than 2% after an upgrade from Piper Sandler to outperform from neutral. Piper Sandler cited gross margin expansion and efficiency gains as potential catalysts for the stock.
On the other hand, Peloton, the connected fitness company, experienced a slight dip of about 2.4% following a significant 35% jump in its stock price after strong quarterly results. Despite a return to sales growth for the first time in nine quarters, Peloton gave a mixed outlook for the year ahead, leading JPMorgan to downgrade the stock.
Warby Parker, the glasses retailer, surged 6% after an upgrade from JMP Securities to outperform from market perform. The firm expects positive commentary from Warby Parker’s management in the upcoming quarters.
Las Vegas Sands, the casino and resort company, faced a 1.6% decline after a downgrade to neutral from buy at UBS. The investment firm pointed to ongoing challenges in the Macau segment recovery as the reason for the downgrade.
BJ’s Wholesale Club, the wholesale retailer, rose more than 1% on an upgrade to overweight from equal weight by Wells Fargo. Despite disappointing second-quarter results, Wells Fargo believes that the company’s strategic shifts indicate fundamental progress.
Bill.com, the packaged software company, saw a 3% increase in its stock price after reporting stronger-than-expected results for the fiscal fourth quarter. With 57 cents in adjusted earnings per share on $344 million of revenue, Bill.com surpassed analysts’ estimates.
Ross Stores, the off-price retailer, rallied over 5% after beating earnings estimates by 9 cents a share and meeting revenue estimates of $5.25 billion.
Lastly, Workday, the human capital management company, surged 12.7% on better-than-expected results for the fiscal fourth quarter. With adjusted earnings per share of $1.75 on $2.09 billion in revenue, Workday exceeded analysts’ forecasts.
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