Check out the companies that made headlines before the bell: Abercrombie & Fitch — Shares fell nearly 4% despite the apparel retailer’s earnings beat and strong outlook for the holiday season. Abercrombie & Fitch reported third-quarter earnings per share of $2.50, beating LSEG’s consensus estimate of $2.39 per share. Sales came in at $1.21 billion, compared to expectations of $1.19 billion. The company also raised its full-year forecast. Best Buy — Shares fell 7.4% after Best Buy reported third-quarter results that missed analysts’ expectations and lowered full-year sales forecasts. Adjusted earnings per share were $1.26, lower than the $1.29 per share forecast by analysts compiled by LSEG. Revenue was $9.45 billion, below the consensus estimate of $9.63 billion. Kohl’s — Shares plunged nearly 17% after the retailer’s third-quarter profit fell short of expectations. Kohl’s earned 20 cents per share on revenue of $3.51 billion in the period, while analysts surveyed by LSEG expected earnings of 28 cents per share on revenue of $3.64 billion. It was raised. Stellantis — European and Japanese automaker stocks soar after President-elect Donald Trump said in a post on Truth Social on Monday that he plans to increase tariffs on products from China, Mexico and Canada. fell. Many car manufacturers have factories in Mexico. Stellantis, which is considering reconsidering plans to expand its manufacturing operations into Mexico, saw its stock fall more than 3.5% on the news. Automakers General Motors and Ford Motor Co. also led by more than 4% and 2%, respectively. Dick’s Sporting Goods — Shares of the sporting goods retailer rose 6.6% after the company reported better-than-expected quarterly results and a solid outlook for the holiday season. Dick’s raised its full-year outlook, saying it now expects same-store sales to increase 3.6% to 4.2% in fiscal 2024, up from previous growth of 2.5% to 3.5%. Zoom Communications — Shares fell about 10.5% after the video software maker released fiscal fourth-quarter adjusted earnings per share guidance that was broadly in line with expectations. However, Zoom beat Wall Street expectations for fiscal third-quarter profit and revenue. Amgen — Shares fell more than 3% after the company announced that its experimental weight-loss drug helped patients lose up to 20% of their weight after a year. However, those test results appear to have been on the low end of investors’ expectations. Rivian Automotive — The electric vehicle maker’s stock is up about 9% after the company announced conditional approval of up to $6.6 billion in government financing to support production capacity, including construction of its Georgia EV factory rose. Fluence Energy — The energy storage stock fell about 4% after the company’s fourth-quarter earnings fell short of expectations. Fluence reported revenue of $1.23 billion for the quarter, below analysts’ expectations of $1.28 billion, according to FactSet. Earnings per share were 34 cents, beating analysts’ expectations of 28 cents per share. Novo Nordisk, Eli Lilly — Shares of drug companies Novo Nordisk and Eli Lilly each trade at 2.5 after the Biden administration proposed new rules that would make Medicare and Medicaid cover expensive weight-loss drugs for obese Americans. % and rose more than 4.7%. Novo Nordisk’s Wegoby and Eli Lilly’s Zepbound weekly injections treat obesity. —CNBC’s Sarah Ming, Sean Conlon, Fred Imbert, Jesse Pound and Michelle Fox Theobald contributed reporting.
