Check out the companies that are gaining attention in pre-market trading. Macy’s — The department store operator beat first-quarter profit expectations and raised its full-year outlook, sending its stock up about 3%. Macy’s touted its turnaround plan as the driving force behind its strong results. Lowe’s — The home improvement store’s stock rose more than 2% after the company reported better-than-expected first-quarter results. Lowe’s reported earnings of $3.06 per share on revenue of $21.36 billion. Analysts surveyed by LSEG had expected earnings of $2.94 per share on revenue of $21.12 billion. AutoZone — Shares of the auto parts retailer fell more than 2% after third-quarter revenue fell short of analysts’ expectations. AutoZone reported revenue of $4.24 billion, while analysts polled by FactSet had expected $4.29 billion. The company’s third quarter earnings per share were $36.69, beating expectations of $36.02. XPeng — Shares rose 5% after the Chinese electric car maker beat expectations for first-quarter sales and profits. XPeng also expects vehicle deliveries to increase by nearly 25% to 40% year over year in the second quarter. Toast — The restaurant software company’s stock fell more than 2% following a downgrade by Baird. Analyst David Corning argues the stock may be overvalued after a 27% jump since the beginning of the year. Palo Alto Networks — The cybersecurity stock fell nearly 7% after guidance for the current quarter was in line with expectations and total revenue was below expectations. Li Auto — The Chinese EV maker fell more than 3% after reporting disappointing first-quarter results. The company reported revenue of 25.6 billion yuan, a decrease of 38.6% from the fourth quarter of 2023. Peloton — Shares fell 4% after the connected fitness company announced plans to begin a “global refinancing” process. The process includes the offering of $275 million in convertible notes due in 2029 and the signing of a $1 billion five-year term loan. The company also plans to repurchase $800 million of existing debt. Peloton has been struggling with declining sales and recently announced a restructuring plan. Keysight Technologies — The electronics testing and software company fell more than 2% after its current quarter outlook fell short of expectations. Keysight currently projects non-GAAP earnings per share of $1.30 to $1.36 and revenue of $1.18 billion to $1.2 billion. Analysts surveyed by FactSet had expected sales of $1.45 per share and revenue of $1.21 billion. Lam Research — Shares of semiconductor manufacturing equipment maker Lam Research rose 4.4% after the company said its board of directors approved a $10 billion share buyback and a 10-for-1 stock split. GAP — Analyst Paul Lejuez predicts Gap will likely beat Wall Street’s first-quarter estimates next week, and expects the clothing market will likely beat Wall Street’s first-quarter estimates as Citi begins monitoring positive catalysts for the company. The goods retailer’s stock rose more than 2%. Zoom Video — Shares fell nearly 3% even after the video conferencing company reported better-than-expected first-quarter profits and revenue. The video communications company reported earnings of $1.35 per share and revenue of $1.14 billion, while analysts surveyed by LSEG expected earnings of $1.20 per share and revenue of $1.13 billion. I expected that. Zoom also said its full-year sales outlook was largely in line with expectations. —CNBC’s Michelle Fox, Sarah Ming and Jesse Pound contributed reporting
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