CrowdStrike IPO on the Nasdaq exchange June 12, 2019.
Here are the stocks making notable moves in premarket trading on Wednesday, March 8.
CrowdStrike – Shares of the cybersecurity company rose more than 6% in premarket trading after a better-than-expected fourth-quarter report. CrowdStrike generated 47 cents in earnings per share on $637 million in revenue. Analysts polled by Refinitiv had subscribed 43 cents on $625 million in revenue. Free cash flow increased to more than $200 million this quarter.
Occidental Petroleum – Energy shares rose nearly 3% in premarket trading after a new filing showed that Warren Buffett’s Berkshire Hathaway increased its already large stake in the company in recent trading sessions. The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a pair of separate transactions on Friday, Monday and Tuesday, marking the first time the “Oracle of Omaha” increased its bet since September.
Stitch Fix — Shares of the clothing company fell more than 10% after Stitch Fix reported a larger-than-expected loss for the second quarter. The company lost 58 cents per share, while analysts polled by Refinitiv had expected a loss of 34 cents per share. Stitch Fix reported its first quarter of positive free cash flow in more than a year.
Tesla – Shares of the automaker fell less than 1% in premarket trading after Tesla was relegated to holding from buying in Berenberg. The investment firm said there is “less room for disappointment” after a hot start to the year for Tesla shares.
Maxeon Solar Technologies – Shares of the Singapore-based solar panel company rose nearly 15% in premarket trading following the company’s fourth-quarter report. While Maxeon’s loss per share was larger than expected, according to StreetAccount, revenues exceeded analyst estimates, as did adjusted EBITDA margins.
Cricut — Shares of the smart cutting machine company rose more than 7% after Cricut reported more than 20% growth in users and paid subscribers in the fourth quarter. Cricut sales declined year over year, but gross margin increased.
Atlantica Sustainable Infrastructure — Shares of the UK-based infrastructure company rose 2% following an upgrade from Bank of America. The investment firm said Atlantica is conducting a strategic review that could unlock shareholder value.
Nordstrom – Retail inventory rose more than 2% after an upgrade to buy from Argus Research. The investment company said Nordstrom has divested the unprofitable parts of its business and now has a healthy upside.
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