Check out the companies making headlines before the bell. Snowflake — This cloud data company sank after releasing disappointing product revenue guidance in the first quarter and announcing that CEO Frank Slootman would be stepping down. Snowflake said it expects product sales for the current period to be in the range of $745 million to $750 million, lower than the $759 million expected by analysts surveyed by StreetAccount. . Morgan Stanley also reduced its weight in cloud stocks by a similar amount. C3.ai — Artificial intelligence software stock soars more than 15% after solid earnings. C3.ai’s adjusted loss per share was 13 cents, narrower than expected. Revenue also exceeded expectations. Salesforce — Salesforce’s decline was less than 1% of his. The software giant beat Wall Street expectations in its fiscal fourth quarter, but its revenue forecast for the new fiscal year was lighter than expected. The company said it expects single-digit sales growth. Okta — The identity management company soared more than 25% on the back of a better-than-expected quarter and guidance for the current period. Okta said it expects revenue to be in the range of $603 million to $605 million, beating FactSet’s forecast of $583.8 million. Bank of America doubled down on the stock. Duolingo — Shares soared 20% after the education technology company reported fourth-quarter profit and revenue that beat analysts’ expectations. Duolingo posted earnings of 26 cents per share on revenue of $151 million. That beat his earnings of 17 cents per share on $148 million, which analysts surveyed by LSEG expected. The company also reported strong revenue expectations for the first quarter and full year. BIRKENSTOCK – Shares rose more than 3% pre-market after the footwear retailer posted revenue of 303 million euros in the first quarter, compared to analysts’ expectations of 288.7 million euros, according to LSEG. It exceeded 10,000 euros. Earnings for the same period came in at 4 euro cents per share, compared to the expected 9 euro cents. AMC Entertainment — AMC Entertainment stock fell more than 10%. The movie theater stock beat Wall Street’s earnings expectations, but posted a bigger-than-expected loss of 83 cents per share. Paramount Global — Shares rose his 2% a day after the media company reported a surprise profit for the fourth quarter. Paramount’s earnings per share came to 4 cents, compared with a loss of 1 cent expected by analysts surveyed by LSEG. Officials told CNBC on Tuesday that Warner Bros. Discovery is no longer pursuing a merger with Paramount. Illustration — The apparel company’s stock fell 16% after fourth-quarter sales fell short of expectations and the company announced that its chief financial officer would step down in April. Figs reported fourth-quarter revenue of $145 million. Analysts surveyed by LSEG invested $150 million. The company said its revenue was hit in part due to accounting changes related to Canadian customers. Celsius — The energy drink maker fell 4.4% despite reporting better-than-expected earnings. Celsius had fourth-quarter sales of $347.4 million and earnings per share of 17 cents. Both numbers beat the consensus estimates of analysts surveyed by LSEG, which called for earnings of 15 cents per share and revenue of $331.5 million. Best Buy — Shares rose 2.6% after the electronics retailer reported quarterly results that beat analyst expectations. Best Buy’s fourth-quarter adjusted earnings per share were $2.72, beating analysts’ estimates of $2.52 compiled by FactSet. Revenue was $14.65 billion, beating the FactSet consensus estimate of $14.56 billion. Nutanix — The cloud computing stock beat Wall Street’s quarterly expectations and rose 4%. Nutanix posted earnings of 46 cents per share on total revenue of $565 million. Pure Storage — Pure Storage rose more than 9% on better-than-expected fourth-quarter profits and upbeat first-quarter guidance. The data storage company posted a profit of 50 cents per share on sales of $790 million. HP — Shares fell 2.2% as weak demand in the personal computer (PC) market hit HP as customers delayed system upgrades and cut spending, and the tech company missed first-quarter revenue estimates. . —CNBC’s Alex Harring, Tanaya Machel, Michelle Fox, Lisa Han, Jesse Pound, Sarah Min and Pia Singh contributed reporting.
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