Here’s a look at the companies making headlines before the bell: Dollar Tree — Shares fell 7% after the discount retailer posted disappointing quarterly results and announced multiple store closures. Dollar Tree reported adjusted earnings of $2.55 per share. However, it’s unclear whether that figure compares to StreetAccount’s $2.66 per share estimate. Dollar Tree also said it plans to close about 1,000 stores. Dollar General — Shares of the discount retailer fell 2% after rival Dollar Tree reported earnings. Dollar General will report earnings on Thursday before the open. Petco Health & Wellness — Shares rose 3.5% after the pet retailer reported higher fourth-quarter revenue. Petco reported adjusted earnings per share of 2 cents on revenue of $1.67 billion. Analysts polled by LSEG expected earnings per share of 2 cents on revenue of $1.67 billion. Tesla – Shares fell 2% after Wells Fargo downgraded the electric vehicle maker to underweight from equal weight. The bank said it sees “a risk to volume as lower prices have a diminishing impact.” Carnival, Royal Caribbean. Shares of the two cruise line operators rose 1.7% and 1.8%, respectively, after Goldman Sachs began covering Carnival and Royal Caribbean shares with buy ratings. Cryptocurrency stocks. Stocks whose performance is tied to the price of Bitcoin rose as the cryptocurrency hit a new record. Shares of Microstrategy, which has an aggressive bitcoin acquisition strategy, rose 5%. In the mining sector, Marathon Digital and CleanSpark each gained more than 2%, while Riot Platforms and Iris Energy added 1%. Bitdeer gained nearly 4% after BTIG initiated coverage with a $15 price target, suggesting an upside of nearly 140%. GE Healthcare Technologies – Shares fell 5% after GE HealthCare Technologies announced a secondary offering of 13 million shares. Texas Roadhouse — Shares rose 1.5% after Baird upgraded the restaurant chain to higher, citing relatively strong traffic. Eli Lilly, Amazon — Eli Lilly said Wednesday it is partnering with Amazon Pharmacy to help deliver some prescription drugs, including weight-loss product Zepbound. Eli Lilly shares gained nearly 1%, while Amazon shares fell slightly. — CNBC’s Michelle Fox, Fred Imbert and Tanaya Machil contributed reporting.
