Pre-Open Movers: Bed Bath Falls as Cohen Files to Sell, Kohl's Lower Following EPS

© Reuters Pre-Open Movers: Bed Bath Falls as Cohen Files to Sell, Kohl's Lower Following EPS

Pre-Open Stock Movers:

Wolfspeed Inc (NYSE:WOLF) 21% HIGHER; reported Q4 EPS of ($0.02), $0.08 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $228.5 million versus the consensus estimate of $209.31 million.

Bed Bath & Beyond Inc (NASDAQ:BBBY) 18% LOWER; Ryan Cohen filed a Form 144 with the SEC to sell his 9,450,100 shares of the meme stock.

Rigel Pharmaceuticals (NASDAQ:RIGL) 11% HIGHER; H.C. Wainwright raised the price target to $15.00 (from $7.00) while maintaining a Buy rating.

Bluebird bio's (NASDAQ:BLUE) 8% HIGHER; cell-based gene therapy, Zynteglo, has been approved for the treatment of adult and pediatric patients with beta-thalassemia by the U.S. Food and Drug Administration, it was announced Wednesday.

BJs Wholesale Club (NYSE:BJ) 8% HIGHER; reported Q2 EPS of $1.06, $0.27 better than the analyst estimate of $0.79. Revenue for the quarter came in at $5.01 billion versus the consensus estimate of $4.62 billion. Total comparable club sales increased by 19.8% year-over-year. BJ's Wholesale Club sees FY2022 EPS of $3.50-$3.60, versus the consensus of $3.33. They expect fiscal year 2022 comparable club sales growth, excluding the impact of gasoline sales, to be in the 4%-5% range, up from the original guidance of low single digit.

Kohl's (NYSE:KSS) 8% LOWER; reported Q2 EPS of $1.11, $0.01 worse than the analyst estimate of $1.12. Revenue for the quarter came in at $4.09 billion versus the consensus estimate of $3.96 billion. Kohl's sees FY2022 EPS of $2.80-$3.20, versus the consensus of $4.06.

Cisco Systems (NASDAQ:CSCO) 5% HIGHER; reported Q4 EPS of $0.83, $0.01 better than the analyst estimate of $0.82. Revenue for the quarter came in at $13.1 billion versus the consensus estimate of $12.73 billion. Cisco Systems sees Q1 2023 EPS of $0.82-$0.84, versus the consensus of $0.84, Revenue: 2% to 4% growth year over year; Cisco Systems sees FY2023 EPS of $3.49-$3.56, versus the consensus of $3.53, Revenue: 4% to 6% growth year over year.

Nuscale Power (NYSE:SMR) 5% HIGHER; Guggenheim initiates coverage with a Buy rating and a price target of $18.00.

Bath & Body Works Inc. (NYSE:BBWI) 2% LOWER; reported Q2 EPS of $0.52, $0.08 better than the analyst estimate of $0.44. Revenue for the quarter came in at $1.62 billion versus the consensus estimate of $1.62 billion. Bath & Body Works, Inc. sees Q3 2022 EPS of $0.10-$0.20, versus the consensus of $0.31. Bath & Body Works, Inc. sees FY2022 EPS of $2.70-$3.00, versus the consensus of $2.92.

Verizon Communications (NYSE:VZ) 2% LOWER; MoffettNathanson downgraded from Market Perform to Underperform, PT $41.00 (from $55.00).