Rackspace Technology, Axon Enterprise, Royalty Pharma and more
[ad_1]
Check out these premarket movers:
Rackspace Technology (RXT) – Rackspace beat estimates by a penny a share, with quarterly earnings of 25 cents per share. Wall Street’s forecasts were also exceeded by the company’s cloud computing revenue. Rackspace reported its eighth consecutive quarter with revenue growth and said that it is well-positioned to take advantage of a growing market. Premarket, its shares rose 8.3%.
Axon Enterprise (AXON) – Axon soared 23.5 % in premarket trading, after the maker of Tasers, body cameras and other public safety equipment reported much-better-than-expected sales and revenue for its latest quarter.
Royalty Pharma (RPRX) – Royalty Pharma rallied 7.8% in premarket trading, following news that Berkshire Hathaway(BRK.B. took a 475 million additional stake in the new drug royalty buyer.
Home Depot (HD) – The home improvement retailer reported third-quarter profit of $3.92 per share52 cents per share higher than the estimates Also, revenue beat Street predictions. The demand for building tools and household appliances drove 6.1% growth in comparable-store sales. This was a higher than expected result. Premarket stock increased 1.1%
Walmart (WMT) – Walmart jumped 2% in premarket trading after beating on the top and bottom lines, and raising its full-year forecast. Walmart’s third-quarter earnings were $1.45 per share, five cents more than estimates. Comparable-store sales also exceeded forecasts.
Advance Auto Parts (AAP) – Advance Auto earned $3.21 per share for its latest quarter, beating the $2.87 a share consensus estimate. This auto parts retailer won on key metrics like revenue. Advance Auto stated that it is experiencing higher-than-expected inflation headwinds. However, the stock dropped 2% during premarket trading.
Diageo (DEO) – Diageo rose 2.4% in premarket trading after it issued stronger-than-expected profit and sales guidance for 2023 through 2025, reversing the spirits maker’s prior stance of abandoning specific numerical guidance.
Tesla (TSLA) – Tesla CEO Elon Musk sold $930 million in shares to meet tax obligations after exercising options to buy 2.1 million shares. Separately, JPMorgan ChaseTesla (JPMM) has been sued. breaching a contract related to stock warrants.
Autoliv (ALV) – Autoliv rallied 4.4% in the premarket, following the announcement of a new stock repurchase program of up to $1.5 billion. Also, the maker of automobile safety systems updated its growth goal. They expect 4% to 6.6% annual growth by 2024.
Lucid (LCID) – Lucid surged 5.8% in premarket action after the electric vehicle maker reported more than 17,000 reservations for its “Air” sedan, up from 13,000 in the prior quarter. Lucid confirmed also its production targets for 2022.
Workday (WDAY) – The human resources software company added 2.4% in the premarket after UBS upgraded the stock to “buy” from “neutral,” on indications of stronger HR systems spending.
[ad_2]