Check out the companies making headlines in pre-market trading. C3.ai — The technology stock plunged 19.2% after the company’s fiscal first-quarter subscription revenue fell short of expectations. C3.ai reported revenue of $73.5 million, while analysts polled by FactSet had forecast $79.2 million. Verizon, Frontier Communications — Verizon announced it will acquire Frontier Communications in an all-cash deal valued at $20 billion, confirming previous transaction reports. Frontier shares fell 9.7%, while Verizon shares rose 1.2%. The transaction is expected to close within the next 18 months. Tesla – The company said it will launch a “fully autonomous driving” driver assistance program in Europe and China in the first quarter of 2025. The company’s electric vehicle shares rose nearly 3%. In response to performance expectations, the stock price rose 4.6%. JetBlue said it expected losses to range from 2.5% to 1% compared with the same period last year. Previously, the company had said it expected a decline of 5.5% to 1.5%. Topgolf Callaway — Shares of Topgolf Callaway rose 4.1% after the golf company announced it would split into two separate businesses. Callaway will focus on golf equipment and consumers with active lifestyles, while Topgolf will focus on golf entertainment. Hewlett Packard Enterprise – Shares of Hewlett Packard Enterprise fell 3% even after the company beat fiscal third-quarter results. Hewlett Packard Enterprise showed continued strong demand for artificial intelligence, but gross margins fell from a year ago. Verint Systems — The automation stock fell 13.5% on weaker-than-expected second-quarter earnings. Verint earned an adjusted 49 cents a share on revenue of $210 million, while analysts polled by LSEG expected earnings of 53 cents a share on revenue of $213 million. ChargePoint — ChargePoint reported second-quarter revenue of $109 million, compared with Wall Street expectations of $114 million, sending the company’s shares tumbling nearly 8%, according to LSEG. The company also announced it would lay off 15% of its workforce and expected fiscal third-quarter revenue to be well below analysts’ forecasts. XPO — Shares fell 5.4% after the trucking company reported preliminary less-than-truckload tonnage fell 4.6% in August from a year earlier. Management acknowledged weak demand. Copart — Digital car auction stocks fell 5.4% after disappointing fiscal fourth-quarter earnings. Copart earned 33 cents per share. Analysts expected earnings of 37 cents per share, according to FactSet. Dick’s Sporting Goods — The sports retailer fell 2.7% in premarket trading, after falling nearly 5% on Wednesday. Dick’s felt downward pressure on its full-year profit guidance, which did not beat Wall Street expectations despite a stronger-than-expected quarterly report. StoneCo — Financial technology stocks fell 8.3% after Morgan Stanley downgraded its rating to underweight from equal weight. The company warned that the payments business could decline as the market becomes more saturated. Dollar Tree — Shares of Dollar Tree fell 1.3% after JPMorgan downgraded the discount retailer to neutral from overweight following the discount retailer’s weak second-quarter results and guidance. Dollar Tree’s shares fell more than 22% on Wednesday, the day it reported results. —CNBC’s Samantha Subin, Lisa Han and Sarah Min contributed reporting
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