Before the bell, take a look at the businesses that are in the news.
CrowdStrike — After CEO George Kurtz announced that more than 97% of Window sensors were back online following last week’s worldwide IT failure, CrowdStrike’s shares increased by over 2%. Still, the stock is expected to drop 17% this week.
Semiconductor stocks tried to regain some of the ground lost this week, with Nvidia, Broadcom, Advanced Micro Devices, Qualcomm, and Micron Technology all seeing increases of more than 2%.
Deckers Outdoors — Deckers’ first-quarter fiscal profits and revenue beat estimates, sending the footwear stock down 12%. While analysts surveyed by LSEG had only predicted per-share earnings of $3.48 on $808 million in revenue, Deckers’ earnings turned out to be $4.52 per share on revenue of $825 million.
Dexcom—Following the company’s second-quarter revenue miss, the medical equipment stock fell more than 36%. Moreover, Dexcom cut their revenue projections for the entire year.
Boston Beer: After the company reported second-quarter earnings per share of $4.39, which fell short of the $5.02 analysts surveyed by LSEG, the alcohol stock fell 2%.
Mohawk Industries — After the flooring maker reported a quarterly beat on both the top and bottom lines, its shares surged by 14%. Furthermore, Mohawk declared its intention to carry out further cost-cutting measures with the aim of achieving an annual savings of $100 million.
The 3M — The industrial behemoth gained about 7% following the release of its adjusted earnings of $1.93 and adjusted revenue of $6.02 billion for the second quarter. LSEG reports that this surpassed the analysts’ projected adjusted earnings of $1.68 on $5.88 billion in revenue. Squibb in Bristol, Myers, Following a better-than-expected report for the second quarter, the pharmaceutical stock surged by 4%.
Based on revenue of $12.20 billion, Bristol Myers Squibb reported adjusted earnings per share of $2.07. Analysts were expecting $1.65 per share on $11.55 billion. Earnings increased 9% yearly.
Norfolk Southern: The railway operator saw gains of about 8% following the release of its second-quarter earnings per share of $3.06. In contrast, analysts surveyed by LSEG had anticipated earnings per share of $2.86. The $3.04 billion in revenue for the corporation met projections.
World Wide Web — Due to a Morgan Stanley downgrading to equal weight from overweight, the parent of a weight watcher shed 5.3% of their body weight. the main company will face long-term challenges from drugs used to treat obesity.
The Charter Communications Following the telecom company’s release of adjusted EBITDA for the second quarter of $5.67 billion, which above the FactSet expectation of $5.48 billion, shares increased by 9%. Additionally, Charter’s $13.69 billion in sales above the $13.59 billion that experts had predicted.
Source (CNBC)
