Stocks making the biggest moves premarket: Salesforce, Allbirds, DoorDash and more
Check out the companies making headlines in premarket trading.
Salesforce — Shares of the software giant dropped more than 6% in premarket trading despite a better-than-expected third-quarter earnings report. The company’s fourth-quarter guidance missed analysts’ expectations. Salesforce also announced it promoted Bret Taylor to the role of co-CEO, alongside Marc Benioff.
Box — Shares of Box rose more than 9% in early morning trading after the company’s quarterly financial results beat on the top and bottom lines. Box posted earnings of 22 cents per share on revenue of $224 million versus the Refinitv consensus estimate of 21 cents per share on revenue of $218.5 million, according to Refinitiv. The company’s fourth-quarter and full-year revenue and earnings also topped estimates.
Hewlett Packard Enterprise — Shares of Hewlett Packard Enterprise fell about 2% in the premarket after missing analyst expectations for its quarterly revenue. The company reported revenue of $7.35 billion, below the Refinitiv consensus forecast of $7.38 billion. However, Hewlett Packard Enterprise posted a profit that came in 4 cents per share above consensus.
Ambarella — Shares of Ambarella surged more than 16% in early morning trading after a better-than-expected quarterly report. The semiconductor company earned 57 cents per share, beating Refinitiv estimates by 8 cents. Revenue came in at $92.2 million versus the $90.3 million expected.
Allbirds — Allbirds shares sunk more than 5% in the premarket after the shoe maker’s losses widened even as its revenue rose from last year. The quarterly report was Allbirds’ first as a public company.
Goldman Sachs, Amazon — Shares of Goldman Sachs and Amazon both moved higher in premarket trading after CNBC reported the bank is unveiling a cloud service for Wall Street trading firms backed by Amazon’s cloud division. The new service is called GS Financial Cloud for Data with Amazon Web Services. Goldman added 0.9% while Amazon gained 1.2%.
Krispy Kreme — Shares of Krispy Kreme fell more than 3% in early morning trading after Goldman Sachs downgraded the stock to a sell rating. Rising cost pressures should weigh on the stock, according to Goldman.
DoorDash — Shares of DoorDash gained more than 3% premarket after Gordon Haskett upgraded the stock to buy from hold. The firm said the omicron variant could spark a rebound for the food delivery app as Covid fears flare up.