March 1, 2024

La Ronge Northerner

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Yelp, AutoZone, Lowe’s, Dick’s Sporting Goods, and more

Yelp, AutoZone, Lowe’s, Dick’s Sporting Goods, and more

Cars are seen parked in front of Dick’s Sporting Goods store at Monroe Marketplace in Pennsylvania.

Paul Weaver | SOPA Pictures | Light Rocket | Getty Images

Check out the companies making headlines before the bell:

Shares of Yelp — Yelp rose 11.4% in premarket trading. Activist investor TCS Capital Management has confirmed reports that it has built a stake of more than 4% in Yelp, and is asking the company to explore strategic alternatives including selling, according to one of the companies. An open letter to the Yelp board of directors Tuesday.

AutoZone Shares of AutoZone fell more than 2% after the specialty retailer’s third-quarter revenue fell short of expectations. AutoZone reported $34.12 in earnings per share on revenue of $4.09 billion. Analysts surveyed by Refinitiv were looking at $31.51 in earnings per share and $4.12 billion in revenue. AutoZone stock is up 7.4% year over year.

Lowe’s Companies – Shares fell about 1% after the home improvement retailer cut its full-year forecast for gross sales, similar sales and adjusted earnings per share. However, Lowe’s outperformed its first-quarter earnings and revenue.

Dick’s Sporting Goods Shares of the sporting goods retailer gained more than 2% before the bell on the top and bottom of its most recent quarter’s earnings. Dick’s Sporting Goods beat earnings forecasts by 22 cents per share and reaffirmed its 2023 outlook.

Zoom Video Communications Zoom fell 0.7% in the primary market after first-quarter results were published. The video conferencing company reported adjusted earnings of $1.16, more than the expected 99 cents per share, Refinitiv estimated. It generated revenues of $1.11 billion, above the revenue of $1.08 billion. However, its guidance in the second quarter was basically in line with expectations.

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Shares of Chevron — Chevron rose 1.2% in the primary market. HSBC upgraded the oil giant to buy from hold, saying the stock would get a boost from higher oil prices.

BJ’s Wholesale – The wholesale retailer is down nearly 1% before the bell. BJ’s Wholesale posted revenue just below Refinitiv estimates. Comparable club sales excluding petrol came in slightly weaker than expected.

— CNBC’s Michelle Fox, Hakyung Kim, Jessie Pound, and Samantha Sobin contributed to reporting.