Premarket Movers: Key Changes in Stock Prices
Here’s a look at some companies making notable premarket moves:
Dollar Tree — The discount retailer jumped over 11% after reporting adjusted earnings of $1.74 per share for the first quarter. Analysts had anticipated earnings of $1.53 per share. Not only did sales exceed expectations, but forecasts for both the quarter and the full year were also better than expected. Additionally, the company announced a collaboration with DoorDash for convenient delivery options.
Salesforce — Shares dipped 1% after predicting current-quarter sales between $11.27 billion and $11.35 billion, slightly below the $11.36 billion that analysts were looking for. However, Salesforce did raise its profit forecast for the full year and reported higher first-quarter profits and sales.
Agilent Technologies — Shares surged 9% as the healthcare equipment company elevated its full-year adjusted earnings outlook to $6.10 per share from $6.00, surpassing previous expectations. The company also noted sales and profit growth for the second quarter.
Best Buy — Shares increased around 8% following positive first-quarter earnings and revenue. Same-store sales climbed 2% year-over-year due primarily to strong performances in gaming, computing, and mobile services. The company reaffirmed its full-year outlook as well.
Marvell Technology — Shares fell nearly 3% despite a favorable outlook for the quarter, projecting adjusted earnings of 93 cents per share on revenue of $2.7 billion—both exceeding expectations. However, first-quarter results also surpassed what analysts had anticipated.
Hormel Foods — The company saw a 10% increase in shares after announcing second-quarter adjusted earnings of 40 cents, surpassing analyst estimates of 35 cents.
Everpure — Shares dropped over 10% following the release of first-quarter gross margins that met expectations. The former Pure Storage reported higher adjusted earnings and revenue, alongside a profit guidance for the quarter and year that exceeded predictions.
Snowflake — This cloud-based data platform provider saw shares rise nearly 37%. Snowflake plans a significant $6 billion investment in Amazon Web Services over five years. Moreover, it reported first-quarter results that were better than expected, achieving adjusted earnings of 39 cents per share on $1.39 billion in revenue compared to analysts’ expectations of 32 cents per share with $1.32 billion in revenue.
ServiceNow, DataDog — The surge in Snowflake’s revenue has been beneficial for its software peers, with DataDog up 6% and ServiceNow rising over 5.5% in pre-market trading.
Synopsys — Shares fell more than 2.5% after announcing an agreement with activist investors for new board appointments. Despite this, its second-quarter results exceeded expectations with adjusted earnings of $3.35 per share and revenue of $2.28 billion.
Nutanix — Shares increased by 2% after reporting higher adjusted earnings and revenue for its fiscal third quarter, with an operating margin surpassing expectations.
Braze — The cloud-based software company saw its stock drop 10% after first-quarter adjusted earnings matched expectations but gross margins fell short. Guidance for non-GAAP operating income was slightly below consensus estimates.
Burlington Stores — Shares fell by 3.5% despite reporting strong earnings and sales, even though the outlook for the current quarter and the full year exceeded expectations.
Kohl’s — Shares rose nearly 11% following a narrower-than-expected loss in the first quarter, with a reported loss of 13 cents per share compared to the 19 cents anticipated.
American Superconductor — Shares declined nearly 7% after announcing adjusted earnings and revenue that didn’t meet analysts’ forecasts for the current quarter.
NCino — The financial software provider’s shares rose 12.5% after raising its full-year revenue outlook above previous predictions.
Drone Stocks — Equity in many drone-related companies surged following reports of potential government funding. Unusual Machines jumped 28%, while Redcat Holdings and Kratos Defense saw increases of 14% and 10%, respectively.
Dell Technologies — Shares rose by 4% after securing a $9.7 billion contract with the Department of Defense for a range of software solutions.
Nebius Group — The Dutch cloud provider’s shares increased by 10% after revealing that a hedge fund run by ex-OpenAI employees now owns a substantial stake in the company.
Caesars Entertainment — Shares rose 2% after Fertitta Entertainment announced plans to acquire Caesars for $17.6 billion, which would combine two prominent hospitality firms.
