Look at the firms that are generating news in the premarket trade.
NVIDIA —After the chipmaker’s third-quarter earnings above Wall Street estimates, the stock increased somewhat. Nvidia posted a $18.12 billion sales with an adjusted profit per share of $4.02. $16.18 billion in revenue and $3.37 per share in earnings were predicted by analysts surveyed by LSEG. However, the business warned that fourth-quarter sales could be negatively impacted by export restrictions to nations like China..
Software Autodesk With its dismal fourth-quarter earnings guidance, the software giant saw a nearly 7% decline in premarket trade. In the range of $1.91 to $1.97, Autodesk anticipates its earnings per share. Below the $2.01 per share StreetAccount projected, that is. The company’s growth projection was reduced by Piper Sandler to “neutral,” with the note that “it may take time to establish investor confidence.”
HP: After the business released its disappointing fiscal fourth-quarter results, shares of the PC maker fell by around 2%. With $13.82 billion in revenue, HP earned 90 cents per share, excluding items. While revenue was marginally below consensus, those profits per share were in line with the LSEG consensus projection.
Virgin Galactic Holdings: Following a downgrade to underweight by Morgan Stanley, the aerospace stock saw an approximately 6% decline. The corporation is pausing space flights to save money, according to analyst Kristine Liwag, who sees “few chances for share price accretion during this approaching slack time.”
GoDaddy: The web domain company’s shares increased 2.3% following an upgrade from sector perform to outperform by RBC Capital Markets. Expectations for GoDaddy in 2024 seem excessively low, according to the investment group, which characterised the company as a “durably rising cash generator with a sprinkle of AI.”
Following the release of net income guidance for the fiscal year 2024 by the manufacturer of agricultural equipment, Deere, the company’s shares decreased 6.6%. That was less than the $9.31 billion analysts surveyed by StreetAccount had predicted.
Source (CNBC)
