Stock Market

In this article

Charge Point EV stations
Source: Charge Point

Check out the companies making headlines before the bell:

C3.ai — Shares surged 17% after C3.ai reported third-quarter results that topped expectations. The enterprise artificial intelligence company posted a narrower-than-expected loss of 6 cents per share ex-items, compared with estimates for a 22 cent loss, according to Refinitiv. It also reported revenue of $66.7 million, surpassing expectations of $64.2 million.

Hewlett Packard Enterprise — The tech stock added nearly 3% after Hewlett Packard Enterprise’s latest quarterly results surpassed Wall Street estimates. The company reported adjusted earnings of 63 cents per share on revenue of $7.81 billion. Analysts polled by Refinitiv were expecting earnings of 54 cents per share on revenue of $7.43 billion.

ChargePoint Holdings — Shares plummeted 11% after ChargePoint Holdings reported a quarterly revenue miss. The electric vehicle infrastructure company posted revenue of $152.8 million in the fourth quarter, less than the forecasted $164.6 million, according to consensus estimates from FactSet. The company also issued lackluster guidance.

Zscaler — Shares of the cybersecurity company slid 11% in premarket trading despite Zscaler beating estimates on the top and bottom lines for the fourth quarter. The company earned an adjusted 37 cents per share, above the 29 cents expected by analysts, according to Refinitiv. However, several analysts pointed to billings guidance as a sign of weakness, with Stifel analyst Adam Borg saying in a note to clients said that the guidance was “muted.”

First Solar — Shares gained 1.6% after UBS upgraded First Solar to buy from neutral, and raised his price target, saying tax credits will help the stock gain more than 20%.

Marvell Technology — The chip stock slid 8% after Marvell Technology reported mixed fourth-quarter results. The semiconductor company reported adjusted earnings of 46 cents per share, just one cent shy of analysts’ estimates, according to Refinitiv. It posted revenue of $1.42 billion, topping the $1.40 billion consensus estimate.

Apple — Shares rose 1% after Morgan Stanley reiterated an overweight rating on Apple, saying investors should look past Apple’s near-term challenges for strong catalysts. His $180 price target implies more than 20% upside from Thursday’s close.

Procter & Gamble — The consumer staples company gained more than 1% in the premarket following an upgrade to overweight from neutral by JPMorgan. The Wall Street firm said the consumer is resilient and believes Procter & Gamble will become an earnings compounder in the second half of the year.

Broadcom — Shares climbed 1.5% after Broadcom beat Wall Street estimates on the top and bottom lines. The semiconductor manufacturing company reported first quarter earnings of $10.33 per share ex items on revenues of $8.92 billion. Analysts polled by Refinitiv expected earnings per share of $10.10 on revenues of $8.90 billion.

Nordstrom — Shares rose 0.6% after Nordstrom reported an earnings per share beat in its fourth quarter, according to consensus estimates from Refinitiv. Revenue, however, missed estimates.

Costco Wholesale — Shares declined 2.6% after Costco Wholesale reported a revenue miss in its fiscal second-quarter earnings. The wholesale retailer reported revenue of $55.27 billion, less than the consensus estimate of $55.54 billion, according to Refinitiv. Costco otherwise beat earnings per share expectations.

Dell Technologies — The stock dropped more than 3% even after Dell Technologies reported fourth-quarter earnings of $1.80 per share ex-items on revenue of $25.04 billion. That beat Wall Street expectations of per-share earnings of $1.63 on revenue of $23.39 billion.

Victoria’s Secret — Shares slid 3% after Victoria’s Secret reported mixed fourth-quarter results. The lingerie retailer posted earnings of $2.47 per share ex-items on revenue of $2.02 billion. Analysts polled by Refinitiv were forecasting per-share earnings of $2.34 on revenue of $2.02 billion.

— CNBC’s Michelle Fox and Jesse Pound contributed reporting

Articles You May Like

The JPMorgan banker tasked with reviving Citi’s investment bank
‘Naive’ Europe must spend more to deter Russia, says Danish PM
What Galloway’s sweeping win in Rochdale says
Russia jails activist as Kremlin widens crackdown on critics
Sunak takes aim at extremism ‘at home trying to tear us apart’