C3.ai, Zscaler, ChargePoint and more

Check out the companies making headlines before the bell:

C3.ai — Shares rose 17% after C3.ai reported third-quarter results that beat expectations. The artificial intelligence company posted a less-than-expected loss of 6 cents per share ex-items, compared to estimates for a loss of 22 cents, Refinitiv said. It also reported revenue of $66.7 million, beating expectations of $64.2 million.

Hewlett Packard Enterprise – The technology stock rose almost 3% after Hewlett Packard Enterprise’s latest quarterly results beat Wall Street estimates. The company reported adjusted earnings of 63 cents per share on revenues of $7.81 billion. Analysts polled by Refinitiv had expected earnings of 54 cents per share on revenue of $7.43 billion.

ChargePoint Holdings — Shares plummeted 11% after ChargePoint Holdings missed a quarterly revenue. The electric vehicle infrastructure company posted fourth-quarter revenue of $152.8 million, less than the $164.6 million forecast, according to consensus estimates from FactSet. The company also issued lackluster guidelines.

Zscaler – Shares of the cybersecurity firm fell 11% in premarket trading, despite Zscaler beating top and bottom estimates for the fourth quarter. The company earned an adjusted 37 cents per share, according to Refinitiv, more than the 29 cents expected by analysts. However, several analysts pointed to the billing guidance as a sign of weakness, with Stifel analyst Adam Borg saying in a note to clients that the guidance was “muted.”

First Solar — Shares rose 1.6% after UBS upgraded First Solar to buy from neutral, and raised its price target, saying tax cuts will help the stock gain more than 20%.

Marvell Technology – Chip stock fell 8% after Marvell Technology reported mixed fourth quarter results. The semiconductor company reported adjusted earnings of 46 cents per share, just one cent short of analyst estimates, Refinitiv said. It posted sales of $1.42 billion, surpassing the consensus estimate of $1.40 billion.

Apple — Shares rose 1% after Morgan Stanley reiterated its overweight Apple and said investors should look past Apple’s near-term challenges for strong catalysts. His $180 price target implies more than 20% gains from Thursday’s close.

Procter & Gamble – The consumer staples company gained more than 1% in premarket after being upgraded from neutral to overweight by JPMorgan. The Wall Street firm said consumers are resilient and believes Procter & Gamble will become an earnings driver in the second half of the year.

Broadcom — Shares rose 1.5% after Broadcom beat Wall Street’s top and bottom line estimates. The semiconductor manufacturing company reported first-quarter earnings of $10.33 per share ex items on revenue of $8.92 billion. Analysts polled by Refinitiv expected earnings per share of $10.10 on revenue of $8.90 billion.

Nordstrom — Shares rose 0.6% after Nordstrom reported fourth-quarter earnings per share, according to Refinitiv consensus estimates. However, sales missed estimates.

Costco Wholesale – Shares fell 2.6% after Costco Wholesale reported a revenue misstatement in its fiscal second-quarter earnings. The wholesaler reported sales of $55.27 billion, less than the consensus estimate of $55.54 billion, according to Refinitiv. Costco further beat earnings per share expectations.

Dell Technologies – Shares fell more than 3% even after Dell Technologies reported fourth-quarter earnings of $1.80 per share ex-items on revenue of $25.04 billion. That beat Wall Street’s expectations of earnings per share of $1.63 on revenue of $23.39 billion.

Victoria’s Secret – Shares fell 3% after Victoria’s Secret reported mixed fourth quarter results. The lingerie retailer posted earnings of $2.47 per share ex-items on sales of $2.02 billion. Analysts polled by Refinitiv forecast earnings per share of $2.34 on revenue of $2.02 billion.

— CNBC’s Michelle Fox and Jesse Pound contributed reporting


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