Zoom Video, American Eagle, FireEye, Moderna & more
Verify out the companies producing headlines in advance of the bell:
Zoom Video (ZM) — The video conferencing company described earnings of 15 cents for each share on earnings of $188.3 million. Wall Road was expecting earnings of 7 cents for every share on revenue of $176.5 million, according to Refinitiv.
American Eagle (AEO) — The retailer’s quarterly earnings beat on the major and bottom lines, with the company citing robust buyer engagement and constructive targeted visitors across models and channel. Earnings arrived in at 37 cents for every share, beating estimates by a penny a share. American Eagles manufactured $1.31 billion in gross sales, compared to the $1.27 billion forecast by analysts.
FireEye (FEYE) — Goldman Sachs upgraded the cybersecurity organization to “buy” from “neutral,” with a cost focus on of $18 per share, implying a lot more than 30% upside. Goldman reported conversations with the corporation gave it far more confidence FireEye is “headed in the proper path for advancement.”
HP (HPQ), Xerox (XRX) — HP rejected Xerox’s takeover provide. Xerox provided to pay back $24 for each share, comprising $18.40 in hard cash and .149 Xerox shares for every single HP share. The bid “meaningfully undervalues HP and disproportionately benefits Xerox shareholders,” Chairman Chip Bergh mentioned in a statement.
Ciena (CIEN) — Shares of the telecommunications networking enterprise rose extra than 5% in premarket trading following publishing robust quarterly earnings. Ciena reporting earnings of 52 cents per share on earnings of $833 million. Analysts had been expecting earnings of 38 cents per share on income of $820 million, in accordance to Refinitiv.
Johnson & Johnson (JNJ) — Citi initiated protection of Johnson & Johnson with a “invest in” rating and a $163 for every share price tag concentrate on. “Johnson & Johnson is an $82 billion profits world-wide behemoth that has slowly but surely recreated by itself through M&A, divestitures, inner R&D, and partnerships,” the organization explained.
Marvell Technology (MRVL) — The semiconductor business rose 8% in premarket trading on Thursday just after reporting potent quarterly earnings. Marvell posted earnings of 17 cents for every share, topping estimates by a penny a share, in accordance to Refinitiv. Revenue arrived in at $718 million, beating the $711 million forecast on the Street.
Kroger (KR) – Shares of the grocery organization rose 1% in premarket investing subsequent its quarterly earnings where by it beat on the prime and bottom traces. Kroger reported earnings of 57 cents for each share on profits of $28.893 billion. Analysts expected earnings of 55 cents for each share on income of $28.866 billion, according to Refinitiv.
Splunk (SPLK) — The program corporation fell 5% premarket right after lacking earnings estimates for the fourth quarter and furnishing a weak outlook. The corporation claimed earnings for each share of 96 cents, lacking estimates by a penny a share, in accordance to Refinitiv. Earnings defeat analysts’ expectations. The company’s very first-quarter and comprehensive-yr revenue steerage have been very well under analysts’ estimates.
Snap (SNAP) — The social media corporation was upgraded to “buy” from “neutral” by MKM Partners. Snap’s inventory is down 30% because late January and the firm reported it thinks “the modern selloff in shares has designed an desirable getting chance,” MKM Partners has a $19 selling price focus on on the stock.
Moderna (MRNA) — Bank of The us downgraded the biotechnology business to “neutral” from “purchase.” The firm claimed the operate-up in Moderna’s stock, about 40% this calendar year, “is not going to be de-risked for fairly some time.”
Guidewire Software (GWRE) — Shares of the computer software enterprise tanked additional than 13% just after offering weak guidance on earnings for the 3rd quarter, estimating a loss of 41 cents per share. Analysts polled by Refinitiv predicted a income of 22 cents per share. CEO Mike Rosenbaum also claimed in a statement that “rising interest in cloud-centered methods is dampening self-managed demand, impacting our total-calendar year outlook.”
BJ’s Wholesale (BJ) — The business attained 40 cents for each share, in line with estimates for its quarterly earnings. Income conquer anticipations, coming in at $3.472 billion, in accordance to Refinitiv. Exact-retail outlet profits skipped estimates and total-year income guidance was weak.
Burlington (BURL) — The retailer defeat on the top rated and bottom lines for its quarterly earnings, even so initial-quarter earnings assistance was weak.
—CNBC’s Michael Bloom contributed to this report.