US PRE-MARKET MOVERS: WAL/JEF, MRVL, COST, GAP, PBR, NKE
ES -0.6% NQ -0.8% RTY -0.8%
- WAL -6% JEF -4.5%: WAL filed a lawsuit & charged off $126.4mln in loan balances after JEF failed to make agreed-upon payments
- MRVL +12%: EPS, rev. topped w/ stellar guidance
- COST -0.5%: Top & bottom line surpassed exp.
- GAP -8%: Q metrics light & disappointing FY26 guidance w/ investors concerned about tariff headwinds weighing on margins
- PBR +2.5%: Profit beat as strong oil production & record exports offset weaker crude prices
- NKE flat: Will implement organisational changes aimed at improving efficiency & profitability W/ estimated pre-tax charges of C. $300mln
Context
In pre-market trading, Marvell Technology (MRVL) stands out with a significant 12% gain driven by strong earnings and robust guidance, indicating continued investor confidence in its growth trajectory. Conversely, Walden (WAL) and Jefferies (JEF) face pressure due to a lawsuit and charge-offs, with WAL down 6%. Meanwhile, Gap (GAP) is experiencing an 8% drop following weak quarterly metrics and concerns about tariffs affecting margins, reflecting cautious sentiment in the retail sector.
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