Look at the businesses grabbing attention in the premarket.
Nvidia – The chip manufacturer saw a 7% increase after posting another astronomical quarter that exceeded Wall Street’s expectations. The demand for AI chips is expected to increase by 170% during the present time, according to Nvidia, which also provided upbeat projections. Adjusted profits per share were $2.70, exceeding the $2.09 estimate provided by Refinitiv’s survey of analysts. Revenues from Nvidia came in at $13.51 billion, exceeding Wall Street’s prediction of $11.22 billion.
Splunk – Following Splunk’s release of an earnings beat, the stock increased 13.6%. After adjustments, the supplier of cloud services made 71 cents per share on second-quarter sales of $910.6 million. Splunk was anticipated to generate $889.3 million in revenue and earn 46 cents per share, according to analysts surveyed by FactSet. The corporation updated their guidance as well.
Snowflake — Following the release of its results report, the cloud computing company’s shares increased by 3.5%. On $674 million in revenue, Snowflake reported adjusted earnings per share of 22 cents. Refinitiv’s poll of analysts predicted earnings of 10 cents per share on revenue of $662 million.
Dollar General — In before of the opening bell, the stock of the discount retailer fell more than 6% as Dollar Tree’s third-quarter profit projection came in far below forecasts. According to Refinitiv, the company projected that profits per share for the current quarter would range between 94 cents and $1.00, whereas analysts had projected $1.27. The top and bottom lines of Dollar Tree’s second quarter results exceeded expectations.
Source (CNBC)
