See which businesses are trading most aggressively in premarket trading:
Walmart — Shares rose up to 1% after the big-box retailer increased its full-year expectations and announced better-than-expected earnings and revenue. Adjusted earnings per share for the quarter came in at $1.84, exceeding the $1.17 estimate provided by Refinitv’s poll of analysts. Instead of the $160.27 billion anticipated, revenue came in at $161.63 billion.
Following Wednesday’s postmarket earnings beat, Cisco System, a major player in computer networking, increased 2.2%. For its fiscal fourth quarter, adjusted profits per share came in at $1.14, exceeding the $1.06 forecast by Refinitiv’s poll of analysts. Compared to the $15.05 billion anticipated, revenue was $15.2 billion.
Adobe – After Bank of America upgraded shares to buy from neutral, the software company saw a 2% increase.
Wolfspeed— Following the release of the company’s earnings report after the bell on Wednesday, shares fell by almost 17%. Refinitiv reported that Wolfspeed’s adjusted earnings-per-share loss for its fiscal fourth quarter was 42 cents, falling short of analysts’ forecasts of a 20 cent loss-per-share. The business’s revenue, however, exceeds expectations.
Source (CNBC)
