Here’s a look at the companies making headlines before the close: Salesforce — Shares of Salesforce jumped more than 12% after the enterprise software company reported better-than-expected third-quarter revenue. Salesforce reported revenue of $9.44 billion, beating analysts’ expectations of $9.35 billion, according to LSEG. Subscription revenue also beat analysts’ expectations. Dollar Tree — Shares of Dollar Tree rose more than 4% after the discount store’s third-quarter results beat expectations. Dollar Tree earned $1.12 per share on revenue of $7.56 billion. That was better than the London Stock Exchange Group (LSEG) consensus estimate of $1.07 per share and revenue of $7.44 billion. The company also announced that Chief Financial Officer Jeff Davis will resign. Pure Storage — Shares of Pure Storage surged 21% after beating fiscal third-quarter estimates and highlighting a contract win from a major technology company. Chief Executive Charles Giancarlo said on CNBC’s “The Closing Bell: Overtime” that he expects the company to replace 90% of customer storage with the company’s direct flash memory technology. Based on the results, Piper Sandler upgraded Pure Storage to overweight from neutral. Foot Locker — Shares of Foot Locker fell nearly 15% after the sneaker giant reported lower-than-expected earnings and revenue. Foot Locker also slashed its full-year sales and profit guidance. The company said the promotional environment was more active and demand was weaker outside of key sales periods. Okta — Shares of Okta rose more than 13% after the identity and access management software company reported third-quarter earnings and revenue that beat expectations. Okta also issued upbeat fourth-quarter guidance. According to LSEG’s consensus estimate, adjusted earnings per share were 67 cents, beating estimates of 58 cents per share. Revenue of $665 million beat expectations of $650 million. Marvell Technology — Shares of the integrated circuit maker rose nearly 13% after Marvell beat third-quarter expectations and gave upbeat revenue guidance, leading several Wall Street firms to raise price targets. J.P. Morgan, which set a target of nearly 36% upside for the stock, expects artificial intelligence and cyclical tailwinds to persist next year and says it will lead to positive earnings per share revisions over multiple quarters. PSQ Holdings — the owner of online marketplace PublicSquare — saw its shares fall 15% in premarket trading a day after a sharp rise. The stock soared 270% on Tuesday on news that Donald Trump Jr. has joined PSQ Holdings’ board of directors. Chewy – Shares of Chewy fell 6% after the pet supplies retailer reported a profit of just 1 cent a share, while analysts polled by LSEG expected a profit of 8 cents a share. Chewy’s revenue of $2.88 billion was in line with expectations. General Motors — Shares of General Motors fell 1% after the Detroit automaker disclosed it would cost $5 billion to restructure its joint venture with SAIC Motor in China. Campbell Soup — Campbell Soup shares fell 3% after quarterly net sales missed expectations. The food company also named insider Mick Beekhuizen as its new chief executive. Roku — shares rose 4.4% after Needham analyst Laura Martin said the company could be acquired at a “high premium” within the next 12 months. —CNBC’s Sean Conlon, Michelle Fox, Lisa Han, Yun Li and Pia Singh contributed reporting
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved