See which businesses are making news before the bell.
Wonderl Technology Even though the company outperformed Wall Street forecasts for the most recent quarter, shares decreased by more than 3% before the bell. Including adjustments, Marvell reported earnings of 33 cents per share on revenue of $1.34 billion. Refinitiv’s survey of analysts predicted a $1.33 billion revenue and 32 cents per share. Expectations for the current period’s revenue and EPS were essentially met.
Affirm – The online payment company saw a roughly 7% increase in its stock price prior to the bell after releasing stronger-than-anticipated fiscal fourth-quarter results and fiscal first-quarter revenue guidance. Affirm reported a recent period loss of 69 cents per share on $446 million in revenue, which was less than projected. Refinitiv’s poll of analysts had predicted an earnings per share loss of 85 cents on revenue of $406 million.
Shares of Hawaiian Electric fell 20% after learning late on Thursday that Maui County was suing the utility for losses resulting from the island’s wildfires. Despite wind-speed warnings, the county claimed Hawaiian Electric left its powerlines on. Hawaiian Electric expressed dissatisfaction with Maui County for “choosing this litigation course while the investigation is still underway” to NBC News.
Nordstrom – Prior to the bell, the department store retailer lost 3.6%. Although Nordstrom’s quarterly earnings and revenue exceeded Wall Street’s forecasts, the retailer stuck to its previously released full-year prediction, which called for a 4% to 6% revenue fall. On $3.77 billion in revenue, the corporation recorded earnings of 84 cents per share.
Source (CNBC)
