In premarket trading, several companies are making headlines:
Nvidia shares fell over 4% despite beating Wall Street’s fiscal Q2 estimates due to a disappointing Q3 revenue outlook. The chip designer earned 68 cents per share on $30.04 billion in revenue, above the forecasted 64 cents and $28.7 billion.
Salesforce saw its shares jump 5% after exceeding Q2 earnings and revenue expectations, and raising its full-year outlook. CFO Amy Weaver will step down.
CrowdStrike fell 2% after its Q3 outlook missed estimates. The cloud security leader now expects earnings of 80-81 cents per share, below the 96 cents forecast. Full-year guidance was also cut.
HP Inc. shares dropped more than 3% following a fiscal Q3 earnings miss, reporting 83 cents per share below the 86 cents expected.
Nutanix soared over 16% on strong Q4 results, reporting 27 cents per share on $548 million revenue, besting the expected 20 cents and $537 million.
Affirm shares surged 20% on better-than-expected fiscal Q1 revenue guidance, predicting $640-$670 million, above the $625 million estimated.
Dollar General plunged over 23% after missing Q2 estimates and lowering its full-year sales outlook due to a “financially constrained” customer base.
Five Below climbed nearly 6% as the high end of its full-year outlook beat Wall Street estimates, forecasting adjusted earnings of $4.35-$4.71 per share.
Kohl’s Corp. fell over 2% after a downgrade from JPMorgan to underweight, citing negative sales trends.
Victoria’s Secret rose nearly 5% after improving its full-year outlook, now anticipating a 1% decline in net sales versus an earlier “low single-digit” decline.
Okta shares fell 12% despite beating Q2 estimates due to a double downgrade to underperform from buy by Bank of America.
Pure Storage slumped nearly 14% despite Q2 results beating expectations; operating income guidance for Q3 was 5.5% below consensus.
Veeva Systems rose 5% on strong Q2 results, reporting $1.62 per share on $676.8 million revenue, beating estimates of $1.53 and $667.8 million.
Original Story https://www.cnbc.com/2024/08/29/stocks-making-biggest-moves-premarket-nvda-crm-crwd-hpq-and-more.html
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