Stocks making the biggest moves premarket: Macy’s, Twitter, Medtronic and more

Peter Schacknow@PETERSCHACK

Check out the companies making headlines before the bell:

Macy’s (M) – Macy’s surged 15% in the premarket after reporting better-than-expected profit and revenue for the first quarter and raising its full-year earnings forecast. Results got a boost from strong apparel demand as people returned to work and other out-of-home activities.

Dollar General (DG) – Dollar General shares rallied 10.1% in premarket trading after its quarterly results beat Wall Street forecasts, and comparable-store sales fell less than expected. Dollar General also boosted its same-store sales forecast as more shoppers turn to discount stores amid elevated inflation.

Dollar Tree (DLTR) – Like its competitor Dollar General, Dollar Tree reported better-than-expected top and bottom-line results for its latest quarter with its comparable-store sales increase doubling Street forecasts. Dollar Tree surged 12.3% in premarket trading.

Twitter (TWTR) – Twitter shares rose 5.6% in the premarket, following news that Elon Musk will commit more of his own wealth to finance his $44 billion takeover deal for the company. An SEC filing showed Musk committed $33.5 billion in equity, up from the prior $27.25 billion.

Medtronic (MDT) – The medical device maker’s latest quarterly results fell short of analyst estimates as it felt the impact of global supply chain issues. Medtronic fell 3.3% in the premarket.

Alibaba (BABA) – The China-based e-commerce giant’s latest quarterly earnings and revenue beat analyst estimates, helped by increased online demand amid China Covid-19 lockdowns. Alibaba shares added 4.5% in premarket action.

Baidu (BIDU) – Baidu jumped 5.6% in premarket trading, as the search engine giant beat estimates in its latest quarter despite a negative impact from Covid lockdowns in China. Baidu saw strong growth during the quarter for its cloud-based services.

Nvidia (NVDA) – Nvidia slid 4.2% in the premarket after the graphics chip maker issued weaker-than-expected guidance for its current quarter, pointing to supply chain issues and slower business in Russia. Nvidia reported better-than-expected profit and revenue for its latest quarter.

Williams-Sonoma (WSM) – Williams-Sonoma jumped 8.2% in premarket trading, following a quarterly earnings and revenue beat and a comparable-sales increase that more than tripled consensus estimates. The home furnishings retailer reiterated its prior full-year guidance and — unlike many other retailers —expects profit margins to hold steady.

Snowflake (SNOW) – Snowflake reported better-than-expected profit and revenue for its latest quarter, but the cloud data platform provider said some of its customers are spending more cautiously because of an uncertain macroeconomic environment. As a result, the shares slumped 13.3% in premarket action.

Nutanix (NTNX) – Nutanix stock plunged 35.4% in premarket trading after the cloud computing company issued a weaker-than-expected forecast. Nutanix cited supply chain issues that impacted its hardware partners, among other factors.