Stocks making the biggest moves before the open: Apple, Oracle, Boot Barn, Mission Produce and more
Check out the companies making headlines in premarket trading. Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Rival avocado producer Calavo Growers climbed 6.5% after earning 57 cents a share in its fiscal third quarter against analyst estimates of 43 cents a share, and doubling its quarterly dividend to 20 cents a share, Oracle — The cloud infrastructure platform rallied 8% after beating expectations in its fiscal first quarter, when it earned an adjusted $1.39 a share on $13.31 billion in revenue, while analysts polled by LSEG forecast $1.32 a share on $13.23 billion. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Apple — Shares slipped nearly 1% after the European Union’s top court ruled that Apple must pay $13 billion in back taxes. That comes on the heels of the company unveiling the iPhone 16 and other products during an event in California. Hewlett Packard Enterprise — The tech hardware company saw shares drop more than 5% in premarket trading on plans to sell $1.35 billion of Series C mandatory company convertible preferred stock. Proceeds will be used to fund the acquisition of Juniper Networks . Rubrik — The data management software stock dropped nearly 7% despite topping Wall Street’s quarterly estimates. The company posted a smaller-than-expected loss of 40 cents a share. Revenue came in at $205 million, ahead of the $196 million seen by analysts polled by LSEG. Patterson-UTI Energy — The oil and gas service provider climbed more than 7% after saying it had an average of 107 rigs operating in the U.S. in August. Alibaba — U.S.-traded shares of the China-based e-commerce company rose more than 2% after Alibaba’s Hong Kong shares were added to the stock connect programs linking exchanges in Shanghai and Shenzhen. The move is expected to bring in more investments from mainland China, according to Reuters . Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral. The bank cited the company’s data center business and search for a new CEO as catalysts. Anheuser-Busch Inbev SA — The beer maker added 1.7% after being named a top pick among global brewers by Morgan Stanley. The Wall Street bank said there’s upside to valuation, despite the stock presenting a “mixed picture” in the near term. Equity Residential — The real estate investment trust rose 1.3% on the back of a Wells Fargo upgrade to overweight from equal weight. Wells Fargo said the imprved recommendation comes after Equity Residential beat expectations for earnings over the summer. — CNBC’s Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li and Scott Schnipper contributed reporting This post has been syndicated from a third-party source. View the original article here.
