Stocks making the biggest moves premarket: Salesforce, Foot Locker, Pure Storage, PSQ Holdings & more
Check out the companies making headlines before the bell rings:
sales force
Shares rose more than 12% after the enterprise software company posted a revenue increase in the third quarter. Salesforce reported $9.44 billion in revenue, better than the $9.35 billion expected by analysts, according to LSEG. Subscription revenue also exceeded analyst expectations.
dollar tree
The stock rose more than 4% following the discount retailer’s better-than-expected third-quarter results. Dollar Tree earned $1.12 per share on revenue of $7.56 billion. That’s better than LSEG consensus estimates of $1.07 per share on $7.44 billion in revenue. The company also announced that Chief Financial Officer Jeff Davis would be stepping down.
Pure storage
Shares rose 21% after Pure Storage beat fiscal third-quarter estimates and highlighted that it won a contract with a major technology company. CEO Charles Giancarlo said on CNBC’s “Closing Bell: Overtime” that he hopes the company can replace 90% of customer storage with the company’s direct flash technology. Following the results, Piper Sandler upgraded Pure Storage to Overweight from Neutral.
standing locker
– Shares sank nearly 15% after the sneaker giant posted a profit and revenue loss. Foot Locker also cut its full-year sales and profit forecast. The company cited a more promotional environment and weaker demand outside of key sales periods.
Okta
Shares rose more than 13% after the identity and access management software company reported third-quarter earnings and revenue that beat expectations. Okta also issued optimistic guidance for the fourth quarter. Adjusted earnings of 67 cents per share beat expected earnings of 58 cents per share, according to the LSEG consensus estimate. Revenue of $665 million beat the forecast of $650 million.
Marvel Technology
The integrated circuit maker jumped nearly 13% after Marvell beat third-quarter estimates and offered upbeat revenue guidance, prompting several Wall Street firms to raise their price targets. JPMorgan, which assigned a target to the stock reflecting a rise of nearly 36%, sees continued AI and cyclical tailwinds over the next year that it said should lead to a multi-quarter period of positive earnings revisions. EPS.
PSQ Holdings
Online marketplace owner PublicSquare saw its shares fall 15% in premarket trading, a day after a monster rally. Shares rose 270% on Tuesday following news that Donald Trump Jr. joined the board of directors of PSQ Holdings.
Tough
The pet supply retailer fell 6% after posting a profit of just 1 cent per share, while analysts surveyed by LSEG expected 8 cents per share. Chewy’s revenue of $2.88 billion was in line with estimates.
general motors
Shares fell 1% after the Detroit automaker disclosed that a restructuring of its joint operations with SAIC Motor Corp. in China will cost more than $5 billion.
Campbell
Shares fell 3% after Campbell’s quarterly net sales fell short of expectations. The food company also appointed expert Mick Beekhuizen as its new CEO.
roku
Shares rose 4.4% after Needham analyst Laura Martin said the company will likely be bought for a “huge premium” over the next 12 months.
CNBC’s Sean Conlon, Michelle Fox, Lisa Han, Yun Li and Pia Singh contributed reporting.
Correction: An earlier version misspelled Campbell’s name.
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