Hot Stocks: BBY, BOX rally on quarterly results; BJ, BIG drop

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Retailer earnings provided a key theme during Thursday's pre-market trading. Best Buy (NYSE:BBY) led the way, posting a notable gain following the release of its quarterly results.

BJ's Wholesale Club (NYSE:BJ) and Big Lots (NYSE:BIG) received a much chillier reception from Wall Street after the release of their financial figures. Both stocks dropped in the wake of their quarterly updates.

Outside the retailing space, Box, Inc. (NYSE:BOX) also saw significant movement following its earnings announcement. Strong results sent the stock higher in pre-market action.

Gainers

Best Buy (BBY) advanced before the opening bell, boosted by better-than-expected quarterly earnings. While the company's revenue figure fell short of projections, the electronics retailer posted a bottom-line result that exceeded consensus.

BBY also raised its dividend and announced a new $5B stock repurchase plan. Shares advanced nearly 4% in pre-market action.

Box, Inc. (BOX) also received a pre-market lift from its earnings report. The maker of cloud-based collaboration software surpassed estimates with both its top and bottom lines. Shares rose almost 7% on the news.

Decliners

BJ's Wholesale Club (BJ) announced a quarterly profit that beat expectations. However, the retailer's revenue figure came up short, rising 10% to $4.36B.

Looking ahead, the firm said EPS would likely remain flat in 2022 compared to the previous year. BJ predicted net sales would increase by a mid-single-digit percentage range.

Based on the lackluster revenue figure and the cautious outlook, BJ dropped about 12% in pre-market action.

Earnings news also put pressure on Big Lots (BIG), with the stock sliding about 6% before the opening bell. The low-price retailer announced a Q4 profit that missed the projection of market analysts. Revenue dipped almost 1% to $1.73B.

BIG also gave a downbeat forecast for Q1, predicting a profit figure between $1.10 and $1.20 per share. Analysts were looking for $1.58 per share.

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