Check out the companies making headlines before the bell:
Deere (DE) – The heavy equipment manufacturer reported better-than-expected earnings and sales for the last quarter and gave an optimistic outlook. Deere said it benefited from positive agricultural fundamentals and increased infrastructure investments. The stock rose 4.2% in premarket trading.
HP Inc. (HPQ) — HP rose 3.1% in premarket after announcing it will cut up to 10% of its 61,000 workforce over the next three years due to a protracted decline in PC demand. The computer maker also reported better-than-expected earnings and sales for the last quarter.
Nordstrom (JWN) — Nordstrom beat top- and bottom-line estimates for the latest quarter, but its stock fell 8.3% after the retailer said sales have slowed in recent months. Nordstrom also lowered its earnings forecast for the fiscal year ending in January.
Manchester United (MANU) – Manchester United gained another 9.5% in the premarket after yesterday’s jump of 14.7%, after the football club said it was considering strategic alternatives, including a possible sale.
Auto desk (ADSK) — Autodesk matched the highest and lowest estimates in its latest quarterly report, but the design software maker issued weaker-than-expected guidance for the current quarter. Autodesk noted a challenging economic environment and said customers were more reluctant to sign long-term contracts. The stock plummeted 9.8% in premarket trading.
Guess (GES) — Guess lost 6.1% in premarket after reporting weaker-than-expected quarterly results and lower outlook. The clothing company pointed to a challenging retail environment and the impact of a stronger US dollar, though it says it is well positioned for the holiday season.
Credit Switzerland (CS) — Shares of the Swiss bank fell 4.4% in premarket action after it warned of a $1.6 billion quarterly loss as customers pull their money from Credit Suisse over financial health concerns. Credit Suisse shareholders approved a $4.2 billion capital raise designed to strengthen the company’s finances.
Tesla (TSLA) — Tesla added 2.7% premarket after Citi upgraded the stock from selling to neutral, citing valuation. Tesla has lost about 50% of its value this year.