By Katy Barnato

Walmart $(WMT)$: The retailer plans to shed about 1,500 corporate jobs in a U.S. restructuring. Walmart and other chains have been cutting costs and increasing prices to offset the hit from tariffs.

Nike $(NKE)$: The sportswear brand plans to sell products on Amazon $(AMZN)$'s U.S. site for the first time in more than five years. Nike shares rose nearly 2% ahead of the open.

Lenovo (HK:992): The world's largest PC maker posted its first quarterly drop in profit for more than a year, as it braces for tariff headwinds. China is the Hong Kong-listed company's main manufacturing base. Shares fell 5.5%.

Lumen Technologies (LUMN): Telecoms conglomerate AT&T $(T)$ will buy Lumen's mass markets fiber business for $5.75 billion. Lumen shares jumped roughly 17% in premarket trading.

Urban Outfitters $(URBN)$: The fashion conglomerate posted double-digit sales growth last quarter, with revenue growing at each of its main brands. Shares surged premarket. Other retailers have warned of tough quarters ahead due to levies.

Snowflake (SNOW): The cloud-software company upped its annual guidance after logging higher quarterly sales. Shares rose 8% premarket.

Analog Devices $(ADI)$ is among the companies due to post earnings early Thursday.

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(END) Dow Jones Newswires

May 22, 2025 04:40 ET (08:40 GMT)

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