Here are the companies making headlines before the bell:
1. New York Community Bancorp: Shares plummeted more than 20% after the regional bank revealed issues with its internal controls. The bank also announced a CEO change, effective immediately.
2. Goodrx: Shares rose by 5.4% following JPMorgan’s upgrade of the digital health-care platform to overweight from neutral. JPMorgan stated that concerns about a changing pharmacy reimbursement model are exaggerated. GoodRx’s positive 2024 guidance and credibility were highlighted as key factors driving the stock’s performance.
3. Dell: Shares surged by 26% in premarket trading after the computer maker reported fourth-quarter earnings of $2.20 per share, exceeding analysts’ expectations. Dell reported revenue of $22.32 billion, outperforming predictions.
4. Hewlett Packard Enterprise: The information technology stock declined by 4.4% after a mixed earnings report for the fiscal first quarter. While the company beat earnings per share expectations, revenue fell short of Wall Street estimates. Weaker guidance for the current quarter also contributed to the stock’s decline.
5. Plug Power: The stock dropped by more than 5% following disappointing results. Despite a wider-than-expected loss, the hydrogen fuel cell company confirmed it has enough cash to continue operations.
6. Daimler Truck: Shares of Daimler Truck surged by more than 17.5% to an all-time high after announcing record full-year profits and a 2 billion euro share buyback program.
7. Autodesk: Shares jumped by 8% after the software company reported higher-than-expected quarterly results. Autodesk’s fourth-quarter adjusted earnings and revenue beat analysts’ estimates.
8. Advanced Micro Devices: Continuing its climb, shares of AMD increased by 3.3% amid investor enthusiasm for artificial intelligence. The chipmaker’s valuation surpassed $300 billion on Thursday.
Source (CNBC)
