Look at the businesses grabbing attention in premarket trading.
Kroger: Following a mixed second-quarter report, the retailer experienced a 2.8% decline. Kroger’s ex-tem earnings per share of 96 cents exceeded the 91 cent consensus estimate of analysts surveyed by LSEG, formerly known as Refinitiv. However, the company’s quarterly revenue came in at $33.85 billion, falling short of analysts’ expectations of $34.13 billion.
Planet Labs — Following the release of a weaker-than-anticipated quarterly report on Thursday, the stock of the provider of satellite imagery fell 2.6% in premarket trade. In the second quarter, Planet Labs reported a loss of 14 cents per share on revenue of $53.8 million, when analysts polled by LSEG, previously Refinitiv, had predicted a loss of 8 cents per share on revenue of $54.1 million. Wall Street expectations were not met for the current quarter and the whole year.
DocuSign—The electric signature company saw its shares rise 2.4% before the market opened on Thursday after releasing a stronger-than-expected quarterly report. While analysts surveyed by LSEG expected earnings of 66 cents per share on revenue of $678 million, DocuSign reported adjusted earnings per share of 72 cents on $688 million in revenue.
Shares of the cloud data company Snowflake increased by about 2% in premarket trading after DA Davidson began research coverage of the stock with a buy rating. The Wall Street firm claimed that Snowflake is in a favourable position with “best-in-class growth rates” and is expected to profit from rising demand for applications of artificial intelligence.
First Solar — Following Deutsche Bank’s Thursday upgrading of the stock to buy from hold, shares increased 2.8% in early trading. During its investors day, the Wall Street company hailed First Solar’s strong growth message. Additionally, it increased its price objective, meaning a 30% gain, to $235 per share.
Source (CNBC)
