Check out the companies that made headlines before the bell: Walt Disney — Media giant buoyed by narrowing streaming losses even after The Walt Disney Company reported better-than-expected fiscal second-quarter profits It fell more than 4%. Hims & Hers Health — Shares rose 14% after the telemedicine consultation platform released better-than-expected second-quarter revenue guidance. Hims & Hers Health expects sales to be in the range of $292 million to $297 million, beating LSEG’s consensus estimate of $288 million. First quarter results also exceeded expectations. Gap — Shares rose 3.2% after Citi upgraded the apparel retailer to buy from neutral and raised its price target, saying Gap could beat first-quarter profit estimates. Target — The retailer soared 1.6% after his double optimism on Wall Street. Citi upgraded the stock from Neutral to Buy, calling it one of the winners in the sector. UBS, which also has a buy rating, said the upcoming first-quarter earnings report should provide a positive catalyst for the stock and validate its bullish view. Palantir Technologies — Shares fell 11% as the defense technology company issued weaker-than-expected guidance. Palantir expects full-year sales of $2.68 billion to $2.69 billion, short of the $2.71 billion expected by analysts polled by LSEG. Revenue for the current quarter is expected to be between $649 million and $653 million, compared to LSEG’s consensus estimate of $653 million. Lucid Group — This electric vehicle maker fell 8% after releasing its latest financial results. Lucid reported a loss of 30 cents per share under generally accepted accounting principles and reaffirmed its 2024 production outlook to approximately 9,000 vehicles. Revenues were $173 million, exceeding expectations of $157 million. Rocket Lab USA — Shares fell 3% after the company’s first-quarter earnings fell short of expectations. In the first quarter, the aerospace manufacturer’s revenue came in at $92.8 million, below StreetAccount’s consensus estimate of $95 million. The loss of 9 cents per share was in line with expectations. Simon Property Group — Shares rose 0.7% after Simon Property Group reported better-than-expected first-quarter sales. The mall operator’s revenue was $1.3 billion, beating the $1.29 billion expected by analysts surveyed by LSEG. Microchip Technology — Shares fell 2% after the company issued a weaker-than-expected outlook for the current quarter. Microship said it expects earnings per share to be between 48 cents and 56 cents on revenue between $1.22 billion and $1.26 billion. Analysts had expected earnings of 59 cents per share on revenue of $1.34 billion, according to LSEG. Fourth-quarter fiscal top and bottom results were in line with analyst expectations. — CNBC’s Michelle Fox, Alex Harring and Tanaya Machel contributed reporting
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