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Dollar Tree, Peloton, Salesforce and more

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Try the businesses making headlines before the bell:

Dollar Tree (DLTR) – The discount retailer’s stock slid 6.6% within the premarket after cutting its full-year earnings forecast, as a result of the impact of pricing-related investments at its Family Dollar stores. Dollar Tree reported higher than expected profit for its latest quarter, with revenue in keeping with Wall Street estimates.

 Peloton (PTON) – Peloton tumbled 17.5% in premarket trading after reporting a bigger than expected loss and revenue that fell well wanting Street forecasts. Peloton also said its connected fitness business would remain difficult into 2023.

 Abercrombie & Fitch (ANF) – Abercrombie shares took a ten.5% hit within the premarket after the apparel retailer reported an unexpected quarterly loss and lower than expected revenue numbers. It also cut its full yr sales forecast, citing the impact of inflation.

Dollar General (DG) – Dollar General reported higher than expected quarterly results, in addition to same-store sales that rose greater than analysts had anticipated. The discount retailer also increased its share repurchase authorization. The stock had been higher within the premarket but dipped negative after rival Dollar Tree cut its full-year forecast.

Salesforce (CRM) – Salesforce slid 6.3% in premarket trading after the business software giant cut its full yr guidance, as economic uncertainty slows the pace of customer deals. Salesforce posted higher than expected sales and profit for its most up-to-date quarter.

Nvidia (NVDA) – Nvidia fell 3.6% within the premarket after missing estimates on the highest and bottom lines with its quarterly results. The graphics chipmaker also issued a tepid forecast, as its gaming business continues to take care of weakening demand. 

Autodesk (ADSK) – The design software maker’s stock surged 9.2% in premarket motion after it gave an upbeat financial forecast and called demand “robust.”  It also reported higher than expected results for its latest quarter.

 Snowflake (SNOW) – Snowflake shares soared 19% off-hours trading after the information software company reported higher than expected quarterly revenue. CEO Frank Slootman said the corporate’s consumption-based model – which lets customers adjust how much they use Snowflake’s services after signing a contract – is proving to be a bonus.

Telehealth stocks – Shares of telehealth firms jumped following news that Amazon.com (AMZN) is shutting down its in-house telehealth service for workers.  Teladoc Health (TDOC) gained 5.5%, Hims & Hers Health (HIMS) added 1.1% and Amwell (AMWL) jumped 7.7%.

 Callaway Golf (ELY) – Callaway Golf rose 2.1% within the premarket after announcing plans to alter its name to Topgolf Callaway Brands, to reflect a life-style approach to its golf equipment and apparel offerings. The name change shall be effective on or about September 6.

Victoria’s Secret (VSCO) – Victoria’s Secret lost 3.7% in premarket trading after the ladies’s intimate apparel maker cut its full yr outlook. The corporate said it expected its customers to be impacted by inflation and other financial challenges.

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