People walk past Macy’s on January 26, 2023 in New York City. US gross domestic product increased at an annual rate of 2.9% in the fourth quarter of 2022.
Leonardo Munoz | Corbis News | Getty Images
Check out the companies making headlines before the bell.
Nordstrom — Shares rose 4.7% after Nordstrom’s first-quarter results topped Wall Street’s expectations. The company posted 7 cents earnings per share and revenue of $3.18 billion. Analysts had estimated a loss per share of 10 cents and $3.12 billion in revenue, according to StreetAccount.
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C3.ai — The artificial intelligence company sank 21% after sharing disappointing guidance for the fiscal first quarter. That overshadowed a smaller-than-expected loss for the fiscal fourth quarter.
Salesforce — The software giant’s shares fell 6% after the company reported higher-than-expected capital costs and lower demand for consulting deals in its fiscal first quarter.
Okta — The cloud software company’s shares tumbled more than 20% Thursday. While Okta’s first-quarter results came above consensus analyst estimates, decelerating subscription revenue growth and smaller deal sizes from a worsening macro environment worsened investor sentiment. BMO Capital Markets downgraded shares to market perform from outperform in a Thursday note.
Macy’s – Shares of the retail giant slid 7% premarket after the company missed revenue estimates for its most recent quarter, according to Refinitiv. Macy’s also slashed its full-year earnings and sales guidance, after “demand trends weakened” for discretionary items in March.
Lucid Group – The luxury EV maker saw its shares drop 12.5% after it said it’s raising about $3 billion through a new stock offering. It added that some $1.8 billion of the raise will come from a private placement with Saudi Arabia’s Public Investment Fund, which owns about 60% of the company.
Chewy — Shares jumped 17% after the pet products e-commerce company reported an earnings and…
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