Check out the companies making headlines before the market opens. Snowflake – Shares soared more than 21% after the company beat expectations for its third-quarter results and provided strong guidance. Snowflake reported adjusted earnings of 20 cents per share on revenue of $942 million. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of 15 cents per share on revenue of $897 million. Palo Alto Networks – The cybersecurity stock fell 2% after the company issued fiscal second-quarter guidance that was largely in line with expectations. Palo Alto Networks expects adjusted earnings per share of $1.54 to $1.56 on revenue of $2.22 billion to $2.25 billion. That was roughly in line with Wall Street forecasts of earnings of $1.55 per share and revenue of $2.23 billion, according to FactSet. Palo Alto also announced a 2-for-1 stock split. NVIDIA – Shares of NVIDIA fell about 1% even though the chipmaker beat Wall Street’s third-quarter profit expectations. The company had adjusted earnings per share of 81 cents on revenue of $35.08 billion, according to LSEG, while analysts expected earnings of 75 cents per share on revenue of $33.16 billion. Cryptocurrency-related stocks – Bitcoin-related stocks moved higher after the cryptocurrency hit $98,000 for the first time. MicroStrategy surged about 11%, while Coinbase gained nearly 4%. Other cryptocurrency-related companies such as miner Mara Holdings and financial services platform Robinhood also posted gains, rising nearly 10% and more than 3%, respectively. Baidu — The Chinese search engine company’s third-quarter revenue fell 3% on the year, and its U.S. shares fell more than 1%. Nonetheless, Baidu’s non-online marketing revenue grew 12%, driven primarily by its artificial intelligence cloud business. BJ’s Wholesale Club – Shares of BJ’s Wholesale Club rose nearly 8% after the warehouse club reported better-than-expected third-quarter earnings and raised full-year guidance. BJ’s also announced plans to buy back $1 billion worth of stock and said it would increase membership fees. Merus – Shares of Merus rose 2.5% after Goldman Sachs issued a buy rating on the cancer treatment company, saying it believes its cancer treatment will bring significant benefits. —CNBC’s Sarah Min, Hakyung Kim and Michelle Fox Theobald contributed reporting.
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