Stocks making the biggest moves premarket: Palantir, CrowdStrike, Foot Locker and more
Check out the companies making headlines before the bell. Foot Locker — Shares tumbled about 9.7% after the sneaker retailer posted a holiday-quarter loss and provided weak guidance for the current year. Struggling to meet its financial goals, Foot Locker’s finance chief said the company is expecting its profitability goal, which it had announced during its March 2023 investor day, to now be delayed by two years. CrowdStrike — Shares jumped more than 23% after the cybersecurity company’s fourth-quarter earnings topped estimates. CrowdStrike’s adjusted earnings of 95 cents per share surpassed an LSEG consensus estimate of 82 cents per share. The firm’s $845 million in revenue was also higher than the estimated $839 million. On top of that, management reiterated a 2030 goal of $10 billion in annual recurring revenue. Palantir Technologies — Shares rallied 7.5% on news that Palantir received a contract from the U.S. Army worth $178.4 million to develop ten artificial intelligence-powered ground stations as part of a project called Titian, or Tactical Intelligence Targeting Access Node. ChargePoint — Shares dropped 5.5% after the electric vehicle charging station provider disappointed on guidance as well as revenue for the fourth quarter. ChargePoint expects first-quarter revenue to come out between $100 million and $110 million, while analysts polled by FactSet had expected $126.6 million. JD.com — The e-commerce company posted a quarterly revenue increase and launched a new $3 billion share repurchase program to start on March 17 and last until March 2027, leading shares about 10% higher. Ross Stores — Shares dipped 2.4% after the discount store chain exceeded fourth-quarter expectations. Ross earned $1.82 per share on $6.02 billion of revenue. That’s higher than analysts’ calls for $1.65 per share on revenue of $5.81 billion, according to LSEG. Coinbase – Shares of the crypto exchange jumped 5% as the price of bitcoin surged higher again on Wednesday. Coinbase stock a volatile session on Tuesday, ultimately sliding more than 5%. Bitcoin on Tuesday touched an all-time high. Box — The stock added 2.9% after matching fourth-quarter revenue expectations, according to LSEG. Box, a cloud content management company, also announced a new large language model integration with Microsoft’s Azure OpenAI Service. Nordstrom — Shares tumbled more than 9% after the department store issued muted guidance for the full year. Nordstrom expects full-year revenue to range from a 2% decline to a 1% gain compared to the year prior. — CNBC’s Jesse Pound and Michelle Fox Theobald contributed reporting. This post has been syndicated from a third-party source. View the original article here.
