Stocks making the biggest moves premarket: Walmart, Dick's Sporting Goods, UnitedHealth, Alibaba and more
Check out the companies making headlines before the bell. Walmart – The discount retailer reported better-than-expected earnings , but shares were slightly lower in the premarket. Walmart posted an adjusted profit of 61 cents per share, beating an LSEG estimate of 58 per share. Revenue of $165.61 billion was about in line with the consensus forecast of $165.84 billion. Dick's Sporting Goods , Foot Locker – Shares of Dick's Sporting Goods slid nearly 11% after the athletic apparel and goods company agreed to purchase smaller rival Foot Locker for $2.4 billion. Dick's offered $24 per share of Foot Locker, which implies 86% upside to the stock's price. Foot Locker shares popped roughly 83% on the news. UnitedHealth Group – The health insurer's shares pulled back more than 6%. On Wednesday, The Wall Street Journal, citing people familiar with the matter, reported that UnitedHealth is being investigated by the Department of Justice for possible Medicare fraud . Cisco Systems – The networking technology stock rose more than 2% after its latest quarterly results topped Wall Street's expectations. Cisco earned 96 cents per share, excluding items, on revenue of $14.15 billion versus the consensus estimate of 92 cents per share and $14.08 billion in revenue. Cisco also issued upbeat guidance for the full year and announced that its finance chief, Scott Herren, will be retiring in July. Alibaba – U.S.-listed shares of the Chinese e-commerce giant dropped nearly 4% after its results for the fiscal fourth quarter missed analyst estimates. Boot Barn – The Western retailer's shares rallied 13% despite weaker-than-expected fiscal fourth-qurater earnings and a soft full-year revenue forecast. Boot Barn earned $1.22 per share on $454 million in revenue, while analysts forecasted profit of $1.24 per share and revenue of $458 million, per LSEG. Boot Barn said it would repurchase $200 million of its stock. CoreWeave – Shares of the artificial intelligence infrastructure company fell 4% after a widening loss in the first quarter . Revenue of $982 million was above the $853 million expected by analysts, according to LSEG. This was CoreWeave's first report as a public company, and the stock is up more than 60% since its IPO. Apple – Shares of the iPhone maker shed about 1%. President Donald Trump said on Thursday that he told CEO Tim Cook that he doesn't want the company to build its products in India . DXC Technology – The IT services stock plummeted more than 13% on the heels of disappointing guidance for the fiscal first quarter. The company said adjusted earnings are expected to come in between 55 cents and 65 cents per share. Analysts had penciled in 77 cents per share, LSEG said. DXC Technology's full year guidance also missed expectations. — CNBC's Alex Harring, Jesse Pound, Fred Imbert and Pia Singh contributed reporting.
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