Check out the companies making headlines in premarket trading. Macy’s — The department store operator added about 3% after beating earnings estimates for the first quarter and raising its full-year outlook. Macy’s touted its turnaround plan as a driver for the strong results. Lowe’s — The home improvement stock rose more than 2% after the company’s first-quarter results topped estimates. Lowe’s reported $3.06 in earnings per share on $21.36 billion of revenue. Analysts surveyed by LSEG expected $2.94 in earnings per share on $21.12 billion of revenue. AutoZone — Stock in the automotive part retailer slipped more than 2% after third-quarter revenue missed analyst estimates. AutoZone reported revenue of $4.24 billion while analysts polled by FactSet forecast $4.29 billion. The company’s fiscal third-quarter earnings of $36.69 per share surpassed estimates that called for $36.02. XPeng — Shares gained 5% after the Chinese electric vehicle firm beat first-quarter estimates on the top and bottom line. XPeng also expects vehicle deliveries to increase 25% to nearly 40% year over year in the second quarter. Toast — The restaurant software firm ticked down more than 2% following a downgrade from Baird, with analyst David Koning asserting the stock may be overvalued after its 27% year-to-date surged. Palo Alto Networks — The cybersecurity stock pulled back nearly 7% after guidance for the current quarter was in line with estimates and total billings missed expectations. Li Auto — The Chinese EV firm declined more than 3% after reporting disappointing first-quarter results. The company reported revenue of 25.6 billion yuan, a 38.6% decrease from the fourth quarter of 2023. Peloton — Shares fell 4% after the connected fitness company said it plans to start a ” global refinancing ” process which will include offering $275 million in convertible senior notes due 2029 and entering into a $1 billion five-year term loan. It also intends to buy back $800 million of its existing debt. Peloton has struggled with falling sales and recently announced a restructuring plan. Keysight Technologies — The electronics test and software company fell more than 2% following a softer-than-expected outlook for the current quarter. Keysight now forecasts non-GAAP earnings per share of $1.30 to $1.36 on revenue between $1.18 billion and $1.2 billion. Analysts surveyed by FactSet expected $1.45 per share and $1.21 billion in revenue. Lam Research — The semiconductor equipment maker
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