Check out the companies that are trending in pre-market trading. Bath & Body Works — Shares soared 16% after third-quarter profit slightly beat Wall Street expectations. Excluding merchandise, the retailer earned 49 cents a share on revenue of $1.61 billion, compared to analysts polled by LSEG who expected earnings of 47 cents a share and revenue of $1.58 billion. Ta. Robinhood — The brokerage’s stock price rose more than 7% after Morgan Stanley upgraded the stock from equal weight to overweight. The investment firm said Robinhood’s revenue growth could be even higher after the election due to increased stock trading and deregulation of cryptocurrencies. Macy’s — The retailer’s stock fell 3% after Macy’s announced it was postponing its official third-quarter financial results after it was discovered that employees had intentionally made false accounting entries to hide delivery costs. . The errors occurred over several years and amounted to between $132 million and $154 million. Macy’s said the accounting problems do not appear to have affected its cash flow. Abercrombie & Fitch — Shares rose 3% ahead of expected third-quarter profits before the bell Tuesday. Analysts compiled by FactSet said the clothing retailer reported earnings of $2.39 per share on revenue of $1.19 billion, with about $631.5 million from Abercrombie and about $631.5 million from Hollister brands. The company expects sales to be approximately $557 million. Clothing retailer Gap’s stock is up more than 15% this month as investor enthusiasm grew after the company raised its full-year outlook after a strong start to the holiday season. Target — Shares rose nearly 2% after Mr. Oppenheimer named the company as a top pick due to improved risk-to-reward skew. Target’s stock price has fallen about 12% since the beginning of the year, and the company said its dividend yield is very “attractive.” MicroStrategy — The Bitcoin developer’s stock rose 3% after Bernstein more than doubled his price target from $290 to $600, suggesting an increase of more than 40% from Friday’s closing price. . The stock has soared about 568% so far this year. Sally Beauty Holdings — Shares rose nearly 3% after TD Cowen changed the stock from hold to buy. Analyst Oliver Chen highlighted the beauty products retailer’s strong free cash flow and attractive valuation. SANTANDER — Bank shares rose 2% after Morgan Stanley upgraded the company to overweight from equal weight, citing resilience in capital creation. Arm Holdings — Shares rose more than 1% after UBS began covering the chipmaker with a buy rating, citing upside from artificial intelligence demand. —CNBC’s Jesse Pound, Alex Harring, Michelle Fox, Samantha Subin and Pia Singh contributed reporting
