Snowflake, Boeing, Apple and more
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Take a look at the top premarket traders.
Snowflake — The cloud data company’s shares jumped more than 13% after the company reported quarterly results that beat revenue estimates. Refinitiv analysts expected Snowflake to report sales of $306 million in the third quarter.
Boeing — Shares of the aircraft maker rose 4.4% after China’s aviation regular cleared the Boeing 737 Max to return to flying on Thursday. The model was grounded more than 2 years after two fatal crashes.
Signet Jewelers — Shares of Signet Jewelers gained about 3% in the premarket after the company posted a better-than-expected earnings report. Signet reported a $1.43 profit per share which was 71c more than the Refinitiv consensus. Also, revenue was higher than expected. Signet increased its fiscal 2022 guidance.
Apple — Shares of Apple fell 3% after the company told some of its suppliers there could be slowing demand for iPhone 13 models, according to a report by Bloomberg. Apple had expected that its original production target would be met in 2022. However, it stated now that this might not occur.
Five Below — The retailer’s shares gained more than 9% after reporting quarterly results that beat on both earnings and revenue. Refinitiv also stated that the retailer reported a 14.8% rise in comparable-store sales which beats estimates of 5.3%.
Okta — Shares of the identity company added 2.5% following the company’s quarterly results. Okta posted a quarterly loss at 7 cents per sen, an improvement on the loss of 24 cents per sen estimated by analysts. The company also exceeded revenue estimates, and provided fourth quarter guidance that was higher than estimates.
Lands’ End — Lands’ End saw its shares sink more than 14% in early morning trading after reporting lower-than-expected third-quarter revenue. StreetAccount’s consensus estimate was $398 million. The revenue for the apparel retailer came in at $375.8million. In line with expectations, Lands End earned 22c per share. It also released fourth quarter earnings guidance and revenue guidance that was below analysts’ expectations.
Dollar General — Dollar General shares fell 1.7% after the company revealed plans to open 1,000 Popshelf storesBy the close of the fiscal year 2025. Popshelf is an online store that targets wealthy suburban customers. Popshelf has currently opened 30 shops in six states.
— CNBC’s Hannah Miao contributed reporting.
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