Take a look at some of the biggest movers in the premarket:
Peloton (PTON) – Peloton earned 27 cents per share for its latest quarter, compared to the consensus estimate of 10 cents a share. The exercise equipment maker’s revenue also topped expectations. The profit was Peloton’s first ever, with revenue nearly tripling on the surge in demand for home-based equipment amid the pandemic.
Oracle (ORCL) – Oracle reported quarterly profit of 93 cents per share, 7 cents a share above estimates. The business software giant’s revenue also beat Wall Street forecasts. Oracle’s results were helped by an increased focus on cloud-based products and services as more people work remotely.
Chewy (CHWY) – Chewy lost 8 cents per share for its latest quarter, half the loss that Wall Street was expecting. Revenue also came in above forecasts. The online pet products seller added more customers in the first half of this year than it did all of last year, as homebound consumers ordered more of their pet supplies online.
Rio Tinto (RIO) – Rio Tinto CEO Jean-Sebastien Jacques will step down by March 31, along with the mining companies iron ore chief Chris Salisbury and head of corporate relations Simone Niven. The departures follow criticism of Rio Tinto’s destruction of two historical Aboriginal rock shelters and its subsequent handling of the controversy.
Ebay (EBAY) – Ebay founder Pierre Omidyar has stepped down from the online marketplace operator’s board of directors as part of a board overhaul. Ebay said this and other departures are not related to any disagreement with the company. Elliott Management partner Jesse Cohn is also leaving the eBay board.
Dave & Buster’s (PLAY) – Dave & Buster’s reported a quarterly loss of $1.24 per share, smaller than the anticipated loss of $1.40. The restaurant chain’s revenue came in below Wall Street estimates, however, and was 85% below year-ago levels. Dave & Buster’s re-opened 27 locations during the quarter, but is still not providing fiscal 2020 guidance amid Covid-19 related uncertainty.
Zumiez (ZUMZ) – Zumiez earned $1.01 per share for its second quarter, well above the consensus estimate of $1.01 a share. The retailer of action sports apparel and equipment reported better-than-expected revenue as well. Comparable sales at re-opened stores were up more than 37% from a year ago. About 95% of the company’s stores have now reopened following pandemic-related closures.
Tesla (TSLA) – The automaker plans to export China-made Model 3 cars to Asian and European markets, according to multiple reports, with mass production of vehicles intended for export to begin during the fourth quarter.
Crocs (CROX) – The casual shoemaker said it expected current-quarter revenue to grow about 10% from the year-ago total of $312.8 million, saying the brand has shown tremendous resilience in the face of the Covid-19 pandemic. The projected revenue for the quarter ending Sept. 30 would be above the current consensus estimate of $305.2 million.
Domino’s Pizza (DPZ) – Cowen upgraded Domino’s to “outperform” from “market perform,” noting the proactive steps the company has taken to build on the strong position that it’s built up during the pandemic and the increase in takeout and delivery spending by consumers.
