Stock Market

Stocks making the biggest moves premarket: SentinelOne, Lululemon, Dupont and more

In this article

A view of a Canadian athletic apparel retailer Lululemon logo seen at one of their stores.
Alex Tai | LightRocket | Getty Images

Check out the companies making headlines in early morning trading.

MongoDB — The data developer platform stock surged 27% after the company issued a strong forecast for the second quarter, seeing between $388 million and $392 million in revenue. Analysts forecasted $362 million, per Refinitiv. MongoDB also beat earnings and revenue forecasts for the most recent quarter.

SentinelOne  — Shares fell more than 35% in premarket trading after cybersecurity company missed revenue expectations for the first quarter and cut its full-year revenue guidance. The company reported first-quarter revenue of $133.4 million, below the consensus estimate of $136.6 million from FactSet. It sees just $141 million in revenue for the second quarter, well below the $152.1 million consensus estimate from FactSet. The company said in a shareholder letter that macroeconomic pressure was slowing sales growth.

Lululemon — The athleisure company’s shares jumped more than 14% after it reported a top and bottom line beat in its fiscal first quarter. The company’s sales grew 24% from the previous year. Lululemon also raised its full-year outlook.

Dupont De Nemours — Shares of the chemicals products maker gained 3% in early morning trading after the company, along with The Chemours Company and Corteva, reached a settlement with U.S. Water Systems to resolve all claims related to per- and polyfluoroalkyl substances, also known as PFAS, in drinking water. The companies will collectively contribute $1.185 billion to a settlement fund. Chemours rose about 2%. Corteva was higher by less than 1%.

Trade Desk — The online ad company saw its shares rise more than 3% after Morgan Stanley upgraded the stock to overweight from equal-weight. The Wall Street firm said The Trade Desk is a top pick set to thrive in a stabilizing market for sales. Its $90 price target represents a more than 20% upside for the stock.

Tesla — Shares of the EV maker rose more than 1% following a Bloomberg report that China is considering extending tax exemption for cheaper electric cars for another four years.

Samsara — The cloud company for the industrials industry saw shares jump nearly 14% after it posted a smaller-than-expected first-quarter loss and better-than expected revenue, according to FactSet, and expanded its full-year sales guidance.

ChargePoint — The electric vehicle charging stock slid 5.5% after the company issued light guidance for the current quarter. ChargePoint said revenue would be between $148 million and $158 million this quarter, below the consensus estimate of $165.6 million from FactSet.

Five Below —  The discount retailer’s shares got a 3.5% boost in early morning trading following mixed results for the latest quarter, including earnings per share that beat estimates by 4 cents, according to Refinitiv.

PagerDuty — PagerDuty shares fell nearly 16% after the cloud computing company issued weaker-than-expected revenue guidance. The company said revenue this quarter would be only as much as $105.5 million, compared to a consensus estimate from analysts of $108.8 million, according to FactSet.

Asana — Shares advanced more than 6% premarket after the work management platform operator reported a smaller-than-expected loss and revenue that beat analyst expectations in the first quarter. Asana’s revenue last period was $152.4 million,compared to the analyst consensus of $150.5 million from FactSet.

 — CNBC’s Hakyung Kim, Jesse Pound and Yun Li contributed reporting

Articles You May Like

Oklahoma court nixes Norman election on TIF districts
Pennsylvania’s budget grants governor’s economic development wishlist
States are on a budget cutting trend, Pew Trusts report
China deploys censors to create socialist AI
Biden cancels campaign event after testing positive for Covid-19