Before the bell, see which firms are in the news.
CrowdStrike – After the cybersecurity company released stronger-than-expected first-quarter results and optimistic expectations, shares shot up 10%. Overachieving analysts’ expectations of 89 cents on $905 million in revenue, CrowdStrike announced adjusted profits per share of 93 cents on $921 million in revenue.
Enterprise Hewlett Packard — Following the release of Hewlett Packard’s better-than-expected fiscal second quarter results, the technology stock surged 15%. LSEG surveyed analysts, and they predicted that the business would report adjusted profits per share of 42 cents on $7.2 billion in revenue, compared to 39 cents on $6.82 billion in revenue.
Dollar Tree – LSEG reports that the bargain retailer fell 2% on the release of first-quarter earnings that met analyst forecasts. In addition, Dollar Tree CEO Rick Dreiling disclosed that the company is considering selling Family Dollar, which it purchased in 2015.
PVH — After the owner of a high-end clothing line revealed that Martijn Hagman, CEO of Tommy Hilfiger Global and PVH Europe, would be departing the company, shares fell more than 1%.
Nio — The maker of electric vehicles increased its workforce by 1% subsequent to receiving regulatory licence to establish a third factory in China, as reported by Reuters. The business and a few other automakers were also granted authorization to test its automated driving technologies on public roads.
The chain of movie theatres AMC Entertainment had a 1% decline. Since Roaring Kitty shared a screenshot purportedly revealing a sizable holding in GameStop stock, the stock has increased by over 11% this week as interest in meme stocks has grown.
KLA Applied Materials Having raised the stocks from underweight to equal-weight, Barclays caused the semiconductor equipment manufacturers to add 2% each. The upgrades were prompted by an increase in China spending in the current year.
Instacart: Following an upgrade to buy from hold at research firm Gordon Haskett, the e-commerce company’s shares increased by about 2%. The company stated that early data about Instacart’s performance in the second quarter is encouraging and that the stock has dropped off too much.
Source (CNBC)
