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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 [earnings before interest, taxes, depreciation and amortization] loss last year to slightly positive EBITDA in the first quarter of this year."

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.

The company reported an adjusted profit of $68 million, or 20 cents a share, on revenue of $10.55 billion with same-store sales sliding 3.2%. The average estimate of analysts polled by Thomson Reuters was for earnings of 31 cents a share on revenue of $10.63 billion in the July-ended period.

Best Buy said it experienced sales declines "in gaming within the Entertainment revenue category, digital imaging and televisions within the Consumer Electronics revenue category and notebooks within the Computing and Mobile Phones revenue category."

The company cited its new CEO, lowered expectations for industry-wide sales and uncertainty related to several product launches in the second half of fiscal 2013 for its decision to suspend its guidance for the full year while also stating it's reduced its annual earnings expectations.

The stock was last quoted at $16.44, down 9.5%, on volume of 2.7 million, according to Nasdaq.com.

Dell (DELL):

Dell is slated to report its fiscal second-quarter results after the closing bell, and the average estimate of analysts polled by Thomson Reuters is for earnings of 45 cents a share in the July-ended period on revenue of $14.64 billion.

The stock closed Monday at $12.56, down more than 14% so far in 2012, and the sell side is slightly bearish ahead of the numbers with 17 of the 32 analysts covering Dell at either hold (15) or underperform (2).

"We anticipate a meet or beat amid low expectations where consensus is looking for sizable Y/Y declines in both revenue and EPS," said Sterne Agee, which has a neutral rating, the equivalent of hold, on the stock. "For the October quarter, it is a similar story where expectations are low. Because of this, we believe there could be a near-term positive bias in DELL shares. However, we maintain our Neutral rating as we remain concerned with the company's long-term fundamental position."

Facebook (FB):

Investors in the social networking giant may be wondering why they should stick around following news that director Peter Thiel has unloaded on most of his shares in the company following the expiration of restrictions on insider sales.

Proceeds from Thiel's sales totaled more than $1 billion, according to a Wall Street Journal report. Facebook went public in mid-May at $38 per share, and the stock closed Monday at $20.01.

Urban Outfitters (URBN):

The Philadelphia-based specialty fashion apparel retailer posted above-consensus quarterly results after Monday's closing bell.

The company earned $61.3 million, or 42 cents a share, on sales of $676.3 million for the July-ended period, better than the average estimate of analysts polled by Thomson Reuters was for a profit of 33 cents a share on sales of $671.6 million.

Same-store sales, including the direct-to-consumer channel, rose 4% in the quarter, while comparable store net sales slipped 1%.

"I am excited and gratified that our team produced record second quarter sales and profits while reducing `comp` store inventories," said Richard Hayne, the company's CEO. "As we head into the second half of the year we plan for gradual year over year improvement in our business along with further tightening of our store inventories."

The stock closed Monday at $31.28, up nearly 16% in the past 52 weeks.

Stock quotes in this article: BKS, BBY, DELL, FB, URBN, CHD, NDSN, AMWD 

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