Market Insider

Stocks making the biggest moves premarket: Foot Locker, Nordstrom, Gap, Zoom Video & more

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Check out the companies making headlines in the premarket Friday:

Foot Locker — Shares of Foot Locker rose nearly 3% after the retailer posted quarterly earnings that topped analysts' expectations. Foot Locker reported a profit of $1.13, beating a FactSet estimate of $1.08. The company's same-store sales were also better than expected.

J.M. Smucker — J.M. Smucker lowered its full-year earnings guidance, sending its stock down about 2%. The peanut butter maker expects full-year earnings to range between $8.10 per share and $8.30 per share, down from a range of $8.35 per share and $8.55 per share.

Nordstrom — Nordstrom shares jumped more than 8% in the premarket after the retailer posted quarterly earnings that easily beat expectations. The company reported a profit of 81 cents a share, while analysts polled by Refinitiv expected earnings per share of 64 cents.

Gap — The retailer posted earnings per share of 53 cents on revenue of $4 billion for the quarter, sending its stock up 1.7%. Gap's same-store sales dropped 4%, which was more than expected.

L Brands — An analyst at Evercore ISI upgraded Victoria's Secret parent company to "in line" from "underperform." The analyst pointed to the "undeniable" outperformance of L Brands' Bath & Body Works franchise, which is now on track to make nearly $2 billion in EBITDA this year.

Alibaba — Alibaba's U.S.-listed shares were initiated with an "outperform" rating and a $231 price target by an analyst at Macquarie. That price target implies a 25% upside from Thursday's close of $184.86. The analyst said he is "holistically positive as Alibaba continues to build up its users and services across its ecosystem."

Uber — The ride-hailing giant was upgraded to "buy" from "hold" by a Stifel analyst who thinks Uber is "turning the corner." The analyst said Uber's fundamentals are "showing signs of sustainable improvement while valuation now offers a more reasonable entry point."

Astrazeneca — SVB Leerink reinitiated coverage of the pharmaceutical giant with an "outperform" rating and a $57 per-share-price target. "We believe the focused strategy has established AstraZeneca as a best-in-class biopharmaceutical company, and expect this momentum to continue," according to the analyst.

Zoom Video Communications — Shares of the videoconferencing company were initiated with a "buy" rating and a $90 per-share price target by an analyst at Guggenheim. The price target implies a 28.7% upside from Thursday's close of $69.92. "Zoom's unique business model is a combination of low initial price and very rapid adoption, which makes for a very profitable financial model in the long-run," the analyst said.

Williams-Sonoma — The kitchenware seller reported quarterly earnings and revenue that were mostly in line with analysts' expectations. Williams-Sonoma reported earnings per share of $1.02 on revenue of $1.44 billion. However, the stock fell more than 5%.

Ross Stores — Ross Stores reported earnings per share of $1.03 on revenue of $3.85 billion, beating analysts' expectations. The company's same-store sales rose 5%, beating a Refinitiv estimate of 2.7%.

—CNBC's Michael Bloom contributed to this report.

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