Stock Market

Take a look at some of the biggest movers in the premarket:

Dollar General (DG) – Dollar General shares tumbled 6.1% in premarket action after the discount retailer missed estimates by 10 cents a share, with quarterly earnings of $2.62 per share. The company exceeded revenue estimates as comparable-store sales increased more than expected.

Signet Jewelers (SIG) – The jewelry retailer’s stock jumped 5.7% in premarket trading following an upbeat quarterly report. Signet earned $4.15 per share, compared to a consensus estimate of $3.54 a share. Revenue came in above estimates as well amid strong comparable-store sales.

Petco (WOOF) – In its first report since going public in January, the pet supplies retailer reported quarterly profit of 17 cents per share, 6 cents a share above estimates. Revenue also came in above Wall Street forecasts, with comparable-store sales up 17%. Shares gained 3.2% in the premarket.

Accenture (ACN) – The consulting firm reported quarterly profit of $2.23 per share, beating the consensus estimate of $1.90 a share. Revenue topped forecasts as well. Accenture also raised its earnings forecast, as more companies utilize its services to move to cloud-based operations. Accenture added 2.2% in premarket trading.

Apple (AAPL) – Apple is planning to launch a new line of iPads as early as next month, according to a Bloomberg report. iPad sales have been boosted over the past year, as more people worked and attended school remotely due to the pandemic. Apple fell 1% in premarket action.

Five Below (FIVE) – The discount retailer beat estimates by 9 cents a share, with quarterly profit of $2.20 per share. Revenue was above Wall Street forecasts as well, boosted by a 14% jump in comparable-store sales. Shares rallied 5.7% in premarket trading.

Coherent (COHR) – The bidding battle for the laser products maker continues, with a new offer from optical components maker II-VI (IIVI) worth about $7 billion in cash and stock. Coherent originally agreed to be acquired by telecom equipment maker Lumentum (LITE) in January, but then became the target of a three-way contest between II-VI, Lumentum and MKS Instruments (MKSI) that has now resulted in a total of 9 bids. Coherent added 3.4% in the premarket, while II-VI fell 1.6%.

Williams-Sonoma (WSM) – Williams-Sonoma reported quarterly earnings of $3.95 per share compared to a consensus estimate of $3.39 a share. The housewares retailer’s revenue beat estimates as well, helped by people spending more time at home amid the pandemic. The company also announced an 11% dividend hike and authorized a $1 billion share repurchase program. Williams-Sonoma surged 11.1% in premarket action.

PagerDuty (PD) – PagerDuty lost 7 cents per share for its latest quarter, less than the 11 cents a share that Wall Street analysts were anticipating. The operations software company’s revenue beat forecasts, but is expecting a wider full-year loss than analysts have been forecasting. Shares fell 4.4% in the premarket.

Nikola (NKLA) – Nikola said South Korean stakeholder Hanwha plans to sell up to half its stake in the electric truck maker this year, reducing its 5.65% stake. Nikola added that the maker of optoelectronic components remains an “Important strategic partner.” Its shares lost 3.6% in premarket action.

Lordstown Motors (RIDE) – Shares fell 4.2% in premarket trading after Lordstown said it had received a Securities and Exchange Commission request for information regarding accusations made in a report by short-seller Hindenburg Research. The report accused the electric vehicle maker of misleading consumers and investors, but Lordstown has said the report was full of “lies and half-truths.”

Sundial Growers (SNDL) – Shares of the Canada-based cannabis producer rose 8.4% in premarket trading after it reported better-than-expected revenue for its latest quarter. The company also said it successfully restructured the company during 2020, positioning it for future success. The stock surged 7.8% in the premarket.

National Grid (NGG) – National Grid is buying the United Kingdom distribution grid unit of Pennsylvania-based PPL Corp. (PPL) for $10.9 billion. At the same time, the multinational power company is selling Rhode Island-based Narragansett Electric Company to PPL for $3.8 billion. PPL added 1.7% in premarket trading.

Peloton (PTON) – Peloton CEO John Foley told Bloomberg news that the fitness equipment maker has expanded its production capacity by 700% over the past year, and that its supply of exercise bicycles is now close to meeting demand. Peloton fell 1.7% in the premarket

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