Stock Groups

Nike, Micron Technology, Braze and more

[ad_1]

Check out these premarket movers:

Nike (NKE) – Nike jumped 3.5% in the premarket after it reported quarterly earnings of 83 cents per share, 20 cents a share above estimates. The revenue came in slightly below expectations, however the maker of athletic shoes and apparel said that its sales suffered from a slower pace in manufacturing and transportation.

Micron Technology (MU) – Micron beat estimates by 5 cents a share, with quarterly profit of $2.16 per share. Also, the chip manufacturer’s revenues came in higher than consensus. Micron offered a more positive outlook, despite continued strong demand. Premarket trading saw Micron’s stock jump 8.2%

Braze (BRZE) – Braze reported a lower-than-expected loss and better-than-expected revenue in the cloud computing company’s first report since going public in mid-November. Premarket, the stock surged by 11.9%.

Citrix Systems (CTXS) – Citrix shares surged 7.8% in premarket trading following a Bloomberg report that Elliott Investment Management and Vista Equity Partners are considering a joint bid for the software maker.

General Mills (GIS) – General Mills missed earnings estimates by 6 cents a share, with quarterly profit of 99 cents per share. Wall Street expectations were exceeded by revenue from the food producer. Although the full-year sales outlook was raised by the company due to high demand for at-home meals, the company said that it still faces higher input costs as well as supply chain disruptions. The shares of the company fell 1.9% on the premarket.

Rite Aid (RAD) – The drugstore chain earned a profit of 15 cents per share, compared to expectations of a 32 cents per share quarterly loss. Rite Aid announced that it would be closing 63 of its stores, with an estimated annual cost savings of $25 million. In premarket trading, the stock rose 4%.

FactSet (FDS) – The financial information provider earned $3.25 per share for its latest quarter, 25 cents a share above estimates. Analytics and research solutions sales boosted revenue to a higher level than expected.

Moderna (MRNA) – Moderna CEO Stephane Bancel told a Swiss newspaper that work on a booster to protect against the Covid-19 omicron variant could begin within a few weeks, adding that only minor adjustments would be needed. Moderna stated earlier this week, that the current vaccine’s booster dosage increases immunity to the omicron variation by 37 times.

Nikola (NKLA) – The electric vehicle company will pay a $125 million civil penalty to settle Securities and Exchange Commission charges that it had allegedly defrauded investors. Nikola stated that the settlement will resolve all outstanding investigations and issues. The premarket saw its shares rise by 3.1%

SolarEdge Technologies (SEDG) – The solar equipment maker’s stock rose 2.5% in premarket trading after it was named a “top pick” at Cowen. According to the firm, investor interest in both fuel cell and solar technology remains strong despite California’s efforts to reduce incentives.

Nvidia (NVDA) – The graphics chipmaker’s stock added 3% in the premarket after it was named a “top pick” at UBS, which notes Nvidia’s “wide moats” in its markets.

[ad_2]