Stocks on the Move Premarket: Best Buy, Dick’s Sporting, Abercrombie & Fitch and others

Best Buy (BBY) shares rallied 7% in premarket trading Thursday after the company posted better-than-expected third-quarter results and raised its full-year forecast.Comparable store sales declined less than expected, as discounts helped keep customer traffic flowing to Best Buy stores.Looking ahead, Best Buy said it expects full-year earnings in the range of $5.45 to $5.65 per share, up from its previous forecast of $5.35 to $5.55 per share. Analysts were expecting earnings of $5.51 per share.

Dick's Sporting Goods reported strong third-quarter results, with better-than-expected profit and revenue and an unexpected increase in comparable store sales. The company raised its full-year forecast, sending shares higher in premarket trading.

Dollar Tree's stock fell 4.4% in the premarket despite the company reporting better-than-expected quarterly results and comparable store sales. However, the discount retailer projects full-year earnings to be in the lower half of its prior guidance range.

Abercrombie & Fitch (ANF) shares soared 12.8% in premarket trading after the company reported an unexpected quarterly profit and beat Street revenue forecasts. The apparel retailer saw resurgent demand for clothing, like jeans and dresses, as consumers returned to work and participated in more social events.

Medtronic's stock fell 3% in premarket trading after the company reported slightly higher-than-expected earnings, but revenue that fell short of the consensus estimate. The medical device maker's results were hurt by a stronger U.S. dollar and a slower-than-expected rebound in procedures using its devices.

Zoom Video Communications (ZM) stock fell 9.3% in premarket trading after the company issued weaker-than-expected guidance for the current quarter. Although Zoom reported better-than-expected results for its most recent quarter, the overall growth seen during the pandemic has slowed considerably.

Dell Technologies (DELL) shares fell 1.6% in premarket trading Thursday, after the company issued a weaker-than-expected revenue forecast for the current quarter.While Dell beat analyst estimates for the third quarter, it said a slowing economy, inflation and other economic factors are pressuring customer spending.

Urban Outfitters (URBN) reported quarterly earnings that were slightly below estimates, but the apparel retailer's revenue beat Street forecasts. The company said it was encouraged by the trends seen so far during the holiday quarter. Urban Outfitters gained 2.2% in premarket action.

Agilent Technologies (A) reported better-than-expected quarterly results, with sales increasing in all of its business units. Agilent shares jumped 4.4% in after-hours trading.