Stocks making the biggest moves premarket: Salesforce, Foot Locker, Pure Storage, PSQ Holdings & more
Business Highlights Before Market Open:
— An impressive 12% surge in shares has been noticed following the impressive third-quarter revenue beat by the enterprise software company. Coming ahead of the LSEG predicted $9.35 billion, Salesforce reported a robust $9.44 billion in revenue. The company’s subscription revenue also outperformed analyst predictions.
— With a notable 4% hike in the stock following Dollar Tree’s stronger-than-expected Q3 results. The company generated $7.56 billion in revenue, beating the predicted $7.44 billion, and earned $1.12 per share. The company also announced CFO Jeff Davis’s departure.
— The fiscal third-quarter estimates beaten by Pure Storage resulted in a massive 21% surge in shares. The company also bagged a contract with a significant tech company, expecting to replace 90% of the customer’s storage with its direct flash technology. Piper Sandler upgraded Pure Storage from neutral to overweight following the results.
— Experiencing a significant drop in shares with 15% decrease, the sneaker giant missed its revenue and earning targets. Foot Locker also reduced its full-year sales and earnings guidance, citing a more promotional environment and slack demand outside key selling periods.
— The shares have seen a 13% hike after the identity and access management software company reported better-than-expected Q3 earnings and revenue. Okta also issued an optimistic Q4 outlook. The LSEG consensus estimate was topped with $665 million in revenue and adjusted earnings of 67 cents per share.
— Following the upbeat revenue guidance and third-quarter estimates beaten by Marvell, the integrated circuit maker experienced a 13% surge in shares. JPMorgan also raised its price target on the stock in anticipation of AI and cyclical tailwinds propelling positive EPS revisions over multiple quarters.
— After a massive rally, the shares of online marketplace PublicSquare’s owner PSQ Holdings dropped by 15% ahead of market open, with Donald Trump Jr. joining the company’s board.
— A slip of 6% in shares was seen for the pet supplies retailer, after posting a profit of just 1 cent per share, while LSEG anticipated 8 cents per share. Chewy’s met the estimated revenue of $2.88 billion.
— The Detroit automaker’s shares fell by 1% after announcing that its joint venture restructuring with SAIC Motor Corp. in China is going to cost more than $5 billion.
— Shares dropped 3% following the miss in quarterly net sales expectations for the food company. Mick Beekhuizen, an internal figure, has been appointed as the new chief executive officer.
— Needham analyst Laura Martin’s statement about the likely acquisition of the company for an extraordinary premium within the next 12 months led to a 4.4% jump in shares.
