Before the markets opened, several companies made notable moves. Dell Technologies’ shares plummeted over 12% after forecasting lower-than-expected fourth-quarter revenue and earnings, despite optimistic remarks about artificial intelligence sales growth. Workday’s shares decreased by about 11% due to a subdued fourth-quarter outlook, projecting $2.025 billion in subscription revenue and a 25% adjusted operating margin, missing StreetAccount’s expectations. HP faced an 8% drop, issuing earnings guidance of 70 to 76 cents per share, falling short of FactSet’s anticipated 85 cents per share. Autodesk shares slid more than 7% following a disappointing forecast, predicting earnings between $2.10 and $2.16 per share and revenue of $1.623 billion to $1.638 billion, slightly missing LSEG’s estimates. The company also announced Janesh Moorjani’s appointment as CFO, effective Dec. 16.
In contrast, stocks linked to bitcoin, such as MicroStrategy and Coinbase, saw gains, with bitcoin’s resurgence pushing MicroStrategy shares up by around 6% and Coinbase by about 2%. Urban Outfitters’ shares jumped nearly 12% after reporting better-than-expected earnings of $1.10 per share and revenue of $1.35 billion, surpassing analyst predictions. Meanwhile, CrowdStrike’s stock fell 4% following cautious guidance, with CEO George Kurtz highlighting anticipated revenue acceleration in the latter half of 2025, possibly further out than investors had anticipated.
Ambarella saw a significant surge, with shares climbing approximately 21% due to an optimistic fourth-quarter outlook, projecting revenue of $76 million to $80 million, ahead of LSEG’s anticipated $69 million. Nutanix shares rose by 5.5% after the company posted fiscal first-quarter results exceeding expectations, with adjusted earnings of 42 cents and revenue of $591 million, surpassing consensus estimates.
— Reported by CNBC’s Samantha Subin, Jesse Pound, Sarah Min, Pia Singh, and Michelle Fox Theobald.
Original Story https://www.cnbc.com/2024/11/27/stocks-making-the-biggest-moves-premarket-dell-mstr-urbn-and-more.html
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