A look at companies making waves before the market opens: CrowdStrike — CrowdStrike shares rose nearly 2% after CEO George Kurtz said more than 97% of window sensors are back online after last week’s global IT outage. But the stock is on pace to fall 17% so far this week. Semiconductor stocks — The chipmaker industry tried to regain lost ground this week, with NVIDIA, Broadcom, Advanced Micro Devices, Qualcomm and Micron Technology all rising more than 2%. Deckers Outdoors — Footwear stocks surged 12% after Deckers reported first-quarter profit and sales that beat expectations. Deckers earned $4.52 a share on revenue of $825 million, while analysts surveyed by LSEG were only expecting $3.48 a share in profits and $808 million in revenue.Dexcom — Shares of the medical device company plummeted more than 36% after the company reported second-quarter earnings that fell short of expectations. Dexcom also lowered its full-year earnings outlook. Boston Beer — Alcohol stocks fell 2% after Boston Beer reported second-quarter earnings per share of $4.39, compared with analysts surveyed by LSEG expecting $5.02. The company’s revenue of $579 million also missed the consensus estimate of $597 million. Coursera — Shares of the online course provider soared 26% after Coursera reported second-quarter revenue of $170 million, beating analysts’ expectations of $164 million, according to LSEG. However, Coursera reported a loss of 15 cents per share, compared with analysts’ expectations of a profit of 1 cent per share. Mohawk Industries — Shares rose 14% after the company announced it beat expectations on both quarterly sales and profit. Additionally, Mohawk said it would undertake additional cost-cutting efforts to generate $100 million in annual savings. 3M — The industrial giant posted second-quarter adjusted earnings of $1.93 on adjusted sales of $6.02 billion, sending shares up nearly 7%. That beat analysts’ expectations of $1.68 on sales of $5.88 billion, according to LSEG. Bristol Myers Squibb — The pharmaceutical stock rose 4% after reporting better-than-expected second-quarter results. Bristol Myers Squibb reported adjusted earnings per share of $2.07 on sales of $12.2 billion. Analysts surveyed by LSEG were expecting $1.63 per share on sales of $11.55 billion. Sales rose 9% year over year. Norfolk Southern Railway rose nearly 8% after second-quarter earnings per share of $3.06. Analysts surveyed by LSEG were expecting earnings per share of $2.86. The company’s revenue of $3.04 billion was in line with expectations. WW International fell 5.3% after Weight Watchers’ parent company was downgraded by Morgan Stanley from Overweight to Equal Weight. Morgan Stanley said obesity drugs are a long-term headwind for its core business. Charter Communications shares rose 9% after it reported second-quarter adjusted EBITDA of $5.67 billion, beating FactSet’s estimate of $5.48 billion. Charter’s revenue of $13.69 billion also beat analysts’ expectations of $13.59 billion. Coinbase shares rose 4% on the back of a rise in bitcoin prices. The major currency was last up about 4% after a drop the previous day. — CNBC’s Alex Harring, Sarah Ming and Jesse Pound report.
Biggest movers in premarket trading: COUR, WW, DXCM, DECK
Services
© 2024 Business Investopedia. All Rights Reserved.