© Reuters.

Pre-Open Stock Movers:

Bed Bath & Beyond Inc . (NASDAQ:BBBY) 24% LOWER; provides a strategic update, announcing job cuts, store closures, a 12 million share ATM offering, loan deal, and that it plans to keep buybuy BABY as part of the company.

Chewy (NYSE:CHWY) 10% LOWER; reported Q2 net income of $22.3 million. Revenue for the quarter came in at $2.43 billion versus the consensus estimate of $2.45 billion.

Ambarella (NASDAQ:AMBA) 10% LOWER; reported Q2 EPS of $0.20, $0.01 better than the analyst estimate of $0.19. Revenue for the quarter came in at $80.9 million versus the consensus estimate of $80.19 million. Ambarella sees Q3 2023 revenue of $81-85 million, versus the consensus of $85 million

Seagate Technology (NASDAQ:STX) 6% LOWER; now expects fiscal first quarter revenue of $2.1 billion plus or minus $100 million, which compares to the Company's previous guidance range of $2.5 billion plus or minus $150 million. The consensus is $2.52 billion.

Express (EXPR) 4% LOWER; reported Q2 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $464.9 million versus the consensus estimate of $479.62 million.

PVH Corp. (NYSE:PVH) 4% LOWER; reported Q2 EPS of $2.08, $0.08 better than the analyst estimate of $2.00. Revenue for the quarter came in at $2.13 billion versus the consensus estimate of $2.21 billion. PVH Corp. sees FY2022 EPS of $8.00, versus the consensus of $8.68.

HP Inc. (NYSE:HPQ) 4% LOWER; reported Q3 EPS of $1.04, in-line with the analyst estimate of $1.04. Revenue for the quarter came in at $14.7 billion versus the consensus estimate of $15.69 billion. HP Inc. sees Q4 2022 EPS of $0.79-$0.89, versus the consensus of $1.06. HP Inc. sees FY2022 EPS of $4.02-$4.12, versus the consensus of $4.30.

Rocket Lab USA (RKLB) 4% HIGHER; Cowen upgraded from Market Perform to Outperform with a price target of $8.00 (from $6.50).

Designer Brands Inc. (NYSE:DBI) 4% HIGHER; reported Q2 EPS of $0.62, $0.10 better than the analyst estimate of $0.52. Revenue for the quarter came in at $859.3 million versus the consensus estimate of $835.92 million. Designer Brands Inc. sees FY2022 EPS of $2.05-$2.15, versus the consensus of $1.89.

PayPal (NASDAQ:PYPL) 3% HIGHER; BofA Securities upgraded from Neutral to Buy with a price target of $114.00.

Western Digital Corporation (NASDAQ:WDC) 3% LOWER; Falls on Seagate's warning.

Chargepoint Holdings Inc. (CHPT) 2% HIGHER; reported Q2 EPS of ($0.28), $0.06 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $108 million versus the consensus estimate of $103.01 million. Chargepoint Holdings Inc. sees Q3 2023 revenue of $125-135 million, versus the consensus of $130 million. Chargepoint Holdings Inc. sees FY2023 revenue of $450-500 million, versus the consensus of $476.5 million.

Hewlett Packard Enterprise (NYSE:HPE) 1% HIGHER; reported Q3 EPS of $0.48, $0.01 better than the analyst estimate of $0.47. Revenue for the quarter came in at $7 billion versus the consensus estimate of $6.93 billion. Hewlett Packard Enterprise sees Q4 2022 EPS of $0.52-$0.60, versus the consensus of $0.58. Hewlett Packard Enterprise sees FY2022 EPS of $1.96-$2.04, versus the consensus of $2.03. Reiterates fiscal 2022 revenue growth of 3-4% adjusted for currency.

Amgen (NASDAQ:AMGN) 1% HIGHER; announced that the global Phase 3 CodeBreaK 200 trial evaluating once daily oral LUMAKRAS® (sotorasib) met its primary endpoint of progression-free survival (PFS), demonstrating statistical significance and superiority over standard of care chemotherapy, intravenous docetaxel. The first randomized clinical trial for a KRASG12C inhibitor assessed the efficacy and safety of LUMAKRAS in 345 previously treated patients with KRAS G12C-mutated non-small cell lung cancer (NSCLC) who had received at minimum, prior platinum-based doublet chemotherapy and checkpoint inhibitor therapy.

CrowdStrike Holdings Inc. (NASDAQ:CRWD) 1% LOWER; reported Q2 EPS of $0.36, $0.08 better than the analyst estimate of $0.28. Revenue for the quarter came in at $535.2 million versus the consensus estimate of $515.98 million. CrowdStrike Holdings Inc. sees Q3 2023 EPS of $0.30-$0.32, versus the consensus of $0.28. CrowdStrike Holdings Inc. sees Q3 2023 revenue of $569.1-575.9 million, versus the consensus of $568.6 million. CrowdStrike Holdings Inc. sees FY2023 EPS of $1.31-$1.33, versus the consensus of $1.20. CrowdStrike Holdings Inc. sees FY2023 revenue of $2.223-2.232 billion, versus the consensus of $2.2 billion.