A look at companies in the spotlight before the market opens: CrowdStrike — Shares jumped 10% after the cybersecurity company reported better-than-expected first-quarter results and strong guidance. CrowdStrike reported adjusted earnings of 93 cents on revenue of $921 million, beating analysts surveyed by LSEG’s expectations of 89 cents on revenue of $905 million. Hewlett Packard Enterprise — The tech stock rose 15% after Hewlett Packard reported better-than-expected second-quarter results. The company reported adjusted earnings of 42 cents on revenue of $7.2 billion, while analysts surveyed by LSEG were expecting earnings of 39 cents a share on revenue of $6.82 billion. Dollar Tree — The discount retailer fell 2% after reporting first-quarter results that met analysts’ expectations, according to LSEG.Dollar Tree CEO Rick Dreiling also said the company was considering a sale after buying Family Dollar in 2015. PVH — Shares fell more than 1% after the luxury clothing brand owner announced that Martijn Hagmann, CEO of Tommy Hilfiger Global and PVH Europe, would be leaving the company. PVH also reported first-quarter profit and sales that beat expectations and raised its full-year profit outlook. NIO — Electric car maker NIO rose 1% after it won regulatory approval to build a third factory in China, according to Reuters. The company also received permission to test self-driving technology on the roads, along with several other automakers. AMC Entertainment — Movie theater chain AMC Entertainment fell 1%. Momentum around the meme stock has risen after Roaring Kitty posted a screenshot that appeared to reveal her large holdings of GameStop shares, with shares up nearly 11% so far this week.Applied Materials, KLA — Shares of the semiconductor equipment makers rose 2% each after Barclays upgraded both stocks to equal weight from underweight. Analyst Tom O’Malley said rising spending in China this fiscal year was the trigger for the upgrade. Instacart — Shares of the e-commerce company rose nearly 2% after research firm Gordon Haskett upgraded the stock to buy from hold. Haskett said Instacart shares are oversold and early data on second-quarter earnings is upbeat about the company’s performance last quarter. Taiwan Semiconductor Manufacturing — The semiconductor maker rose 2% following the introduction of a new generation of 2nm chips that are faster and use less power than their predecessors, according to Barclays. The bank also raised its price target on the stock. Hanesbrands — Shares of the clothing company rose 15% after Hanesbrands agreed to sell its global Champion business to Authentic Brands. The deal could be valued at up to $1.5 billion and is expected to close in the second half of 2024. — CNBC’s Jesse Pound reports.
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