Stocks to Watch: Barnes & Noble, Best Buy
Updated from 9:07 a.m. ET to include information on American Woodmark.
NEW YORK (TheStreet) -- These stocks were making headlines ahead of Tuesday's opening bell:
American Woodmark(AMWD) :
Shares of the Winchester, Va.-based kitchen cabinet company jumped before the open after the company posted first-quarter earnings of $1 million, or 7 cents a share, as net sales jumped 13% year-over-year to $148.3 million.
Wall Street was looking for a loss of 3 cents a share in the quarter on sales of $138.2 million.
The stock rose more than 11% to $20.37.
Barnes & Noble(BKS) :
The book seller is getting a boost in early action after reporting a narrower than expected loss in its fiscal first quarter with same-store sales getting a boost from strong demand for the Fifty Shades of Grey series by E.L. James.
The company said it lost $41 million, or 78 cents a share, in the July-ended quarter on sales of $1.45 billion, besting the average estimate of analysts polled by Thomson Reuters for a loss of 98 cents a share on sales of $1.48 billion.
Comparable bookstore sales rose 4.6% in the quarter, and the company's NOOK e-reader business brought in revenue of $192 million.
"During the first quarter, we continued to see improvement in both our rapidly growing NOOK business, which saw digital content sales increase 46% during the quarter, and at our bookstores, which continue to benefit from market consolidation and strong sales of the Fifty Shades series," said William Lynch, the company's CEO, in a press release. "The growth in comps at retail and the continued strong growth of our digital content business, as well as increased cost management focus, were drivers in the business turning from an EBITDA
The stock was up 4.5% at $12.90 in pre-market action.
Best Buy(BBY) :
Shares of the Minneapolis-based consumer electronics retailer fell more than 9% in pre-market action after the company, which named a new CEO on Monday, reported quarterly results that were well short of Wall Street's expectations and suspended its guidance.