Thursday, February 22, 2024
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Among Others: Dell, MongoDB, Lululemon

Before the bell, have a look at the businesses making news:

Dell Technologies – After beating analysts’ estimates in the second quarter, Dell Technologies increased by 10.5%. The computer company reported revenue of $22.93 billion and adjusted earnings per share of $1.74. Refinitiv’s survey of analysts found that they expected $1.14 per share earnings and $20.85 billion in total. Dell was named a top selection for IT hardware by Morgan Stanley.

MongoDB – MongoDB increased by 5% after outperforming Wall Street forecasts in its most recent quarter. On revenue of $423.8 million, the manufacturer of database software reported second-quarter adjusted earnings of 93 cents per share. According to a consensus estimate from Refinitiv, the figures exceeded forecasts of 46 cents earnings per share and $393 million in revenue.

Lululemon Athletica – Following the athletic gear retailer’s announcement of a beat in profits, shares increased 2.3% in premarket trade. For its second fiscal quarter, earnings per share were $2.68, exceeding the $2.54 Refinitiv consensus forecast. Compared to the $2.17 billion forecast, revenue was $2.21 billion. Additionally, Lululemon increased their annual guidance.

VM Wear — The provider of cloud services experienced a 1.9% decline before the bell. On Thursday, VMware released its second-quarter financial results, topping estimates for earnings per share while missing them for revenue. The business added that it and Broadcom reached a legally binding agreement for the latter to acquire it.

Although Broadcom’s financial third-quarter results exceeded forecasts, the chipmaker’s shares slumped 4%. On $8.88 billion in sales, the semiconductor manufacturer achieved adjusted earnings per share of $10.54. The $8.86 billion in sales was predicted by the analysts surveyed by Refinitiv to bring in $10.42 per share. The $9.27 billion forecasted revenue for the fourth quarter was about in line with expectations.

Source (CNBC)

 

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