Stocks Making The Biggest Premarket Moves: Foot Locker, Deere, Applied Materials, And More

Foot Locker: The shares of Foot Locker experienced a substantial decline of over 23% following a disappointing quarterly results announcement on Thursday after the market closed. The shoe retailer fell short of analysts' expectations for both earnings and revenue in the first quarter.

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Disney: Disney's stock declined by 0.9% in premarket trading. Macquarie Research downgraded Disney stock from outperform to neutral, citing uncertainties surrounding the growth of its streaming services as the reason for the downgrade.

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Nike: Shares of Nike fell by more than 2% on news that the company may face fines exceeding $530 million for misclassifying thousands of independent contractors, according to a report from The Guardian.

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Bath & Body Works: After surging 10.7% during the previous trading session, shares of Bath & Body Works retreated by 2.2%. The retailer, known for its presence in malls, reported better-than-expected earnings for the fiscal first quarter and raised its full-year guidance in its earnings announcement on Thursday.

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Catalent: The shares of this drug maker fell by almost 6% after the company delayed its fiscal third-quarter earnings announcement before the market opened. Catalent also lowered its full-year earnings and revenue guidance ahead of its business update call.

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Applied Materials: Despite posting earnings and revenue for the most recent quarter that exceeded Wall Street's expectations, shares of the chip maker slipped by more than 1% in premarket trading. Applied Materials provided upbeat guidance for the third quarter.

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Farfetch: The stock of this luxury fashion platform surged by 25.5% on Friday morning. Although Farfetch's first-quarter earnings of 43 cents per share missed analysts' estimates by 1 cent, its revenue of $556 million surpassed Wall Street's expectations of $513 million.

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DXC Technology: Shares of the IT company fell by 3.5% following its latest financial results. DXC posted revenue below analysts' expectations from FactSet and earnings that were roughly in line with expectations. The company also announced the departure of CFO Ken Sharp later this year.

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Bloom Energy: Shares of this clean energy stock jumped 6.2% in premarket trading after JPMorgan upgraded the stock from neutral to overweight. The upgrade highlighted a buying opportunity in the stock following a recent slide.

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Deere: The shares of the tractor maker rose by almost 4% after it reported an earnings and revenue beat for its fiscal second quarter. Deere posted $9.65 earnings per share and $17.39 billion in revenue, surpassing analysts' expectations of $8.59 per-share earnings and $14.83 billion in revenue.

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Gen Digital: Gen Digital saw a 1.5% climb after Evercore ISI initiated coverage of the cybersecurity company with an outperform rating. Analyst Peter Levine stated that the company has become the "leading consumer cybersecurity platform."

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