Foot Locker, Tesla, Peloton fall premarket; Kohl's, Urban Outfitters rise

  • Stock Market News
Foot Locker, Tesla, Peloton fall premarket; Kohl's, Urban Outfitters rise
Credit: © Reuters. -- U.S. futures traded higher Wednesday, as investors digested more corporate earnings, particularly from the retail sector, ahead of the release of numbers from chip designer Nvidia (NASDAQ: NVDA ).

Here are some of the biggest premarket U.S. stock movers today:

  • Kohl’s (NYSE: KSS ) stock rose 3.5% after the department store operator beat quarterly profit estimates, as leaner inventories, lower costs, and fewer discounts helped to counter a broader retail slowdown.

  • Foot Locker (NYSE: FL ) stock slumped 31.4% after the sportswear retailer reported another quarter of falling sales, paused quarterly dividends, and slashed its outlook for the second time this year, blaming “consumer softness.”

  • Peloton (NASDAQ: PTON ) stock slumped 25.7% after the exercise bike retailer forecast first quarter revenue below estimates as a shift in consumer spending toward travel and experiences hurt demand for its equipment.
  • Urban Outfitters (NASDAQ: URBN ) stock rose 4.8% after the apparel retailer beat expectations for the second quarter as same-store sales rose, driven by growth in retail stores and online sales.

  • Bath & Body Works (NYSE: BBWI ) stock fell 2.7% after the specialty retailer warned of a steeper decline in annual sales as cost-conscious customers deferred purchasing its pricier home fragrances and personal care products.
  • La-Z-Boy (NYSE: LZB ) stock fell 1.6% after the furniture manufacturer said the industry will remain "challenged," with a potential seasonal boost.

  • Toll Brothers (NYSE: TOL ) stock rose 0.4% after the homebuilder beat expectations for third quarter profit, as demand for luxury homes in a tighter resale market boosted new home sales.

  • WeWork (NYSE: WE ) stock fell 5.1% after the New York Stock Exchange suspended trading in the workspace provider's warrants.

  • Tesla (NASDAQ: TSLA ) stock fell 2.6% after a report by Business Insider said the EV manufacturer has lowered the production target of its German plant to 4,350 a week in July and August after hitting 5,000 a week in March and plans to reduce it further.

  • Stellantis (NYSE: STLA ) stock fell 0.5% after Bloomberg News reported that the auto giant is exploring options to partner with a Chinese electric vehicle maker as it tries to expand its presence in the world's largest auto market.

  • Apellis Pharmaceuticals (NASDAQ: APLS ) stock soared 26.8% after the biopharmaceutical company provided a key safety update about its injection kits and the rare events of retinal vasculitis related to its eye drug, Syfovre.

  • AMC Entertainment (NYSE: AMC ) stock fell 7.5%, continuing to drop after the approval of a rescue deal that will allow the deeply indebted cinema chain to issue more shares.

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