Several companies made headlines before the opening bell, with CrowdStrike leading the way as its shares surged by 10% following the release of better-than-expected first-quarter results and strong guidance. The cybersecurity firm reported adjusted earnings of 93 cents per share on $921 million in revenue, beating analyst expectations.
Hewlett Packard Enterprise also saw its stock rise by 15% after reporting better-than-expected results for its fiscal second quarter. The company posted adjusted earnings of 42 cents per share on revenue of $7.2 billion, outperforming analyst estimates.
On the other hand, Dollar Tree’s shares fell 2% despite reporting first-quarter results that were in line with expectations. The discount retailer’s CEO revealed plans to explore the sale of Family Dollar, which was acquired in 2015.
PVH, the owner of luxury clothing brand Tommy Hilfiger, experienced a slight dip in shares by over 1% after announcing the departure of Martijn Hagman, CEO of Tommy Hilfiger Global and PVH Europe. The company also reported an increase in first-quarter profits and revenue, while raising its full-year profit guidance.
Electric vehicle maker Nio saw its stock increase by 1% after gaining regulatory approval to build a third factory in China and also receiving permission to test its automated driving technology on roads.
AMC Entertainment’s stock fell 1% despite growing momentum around meme stocks like GameStop this week. Semiconductor equipment makers Applied Materials and KLA both added 2% following an upgrade by Barclays, citing spending growth in China as a catalyst for improvement.
Instacart’s shares rose nearly 2% after getting an upgrade to buy from hold at Gordon Haskett, with early data suggesting positive performance in the second quarter.
Semiconductor manufacturing in Taiwan saw a 2% increase in shares after introducing its 2nm chips, designed to be faster and consume less power. Barclays also raised its price target for the stock.
Lastly, Hanesbrands’ stock rose by 15% after reaching a deal to sell its global Champion business to Authentic Brands for up to $1.5 billion, expected to be completed in the second half of 2024.
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https://www.cnbc.com/2024/06/05/stocks-making-the-biggest-moves-premarket-hpe-cart-crwd-and-more.html
