Stocks making the biggest moves premarket: Macys, Salesforce, Dollar General and more
Summary
Salesforce — The software giants shares fell 6% after the company reported higher-than-expected capital costs and lower demand for consulting deals in its fiscal first quarter. While Oktas first-quarter results came above consensus analyst estimates, decelerating subscription revenue growth and smaller deal sizes from a worsening macroeconomic environment affected investor sentiment. Macys — Shares of the retail giant slid 7% premarket after the company missed revenue estimates for its most recent quarter, according to Refinitiv. The bank cited several factors, including a weakening consumer spending environment, ongoing share losses from recent controversies and grocery inflation headwinds. The Wall Street firm cited CSXs strong network operation, which it believes will provide leverage to the next volume upturn.
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