Stocks making the biggest moves premarket: AVGO, MU, WOOF, COIN
Check out the companies making the biggest moves in premarket trading: Broadcom — Shares tumbled 15% after the chipmaker reported fiscal second-quarter revenue of $22.19 billion, short of the $22.27 billion expected from analysts polled by LSEG. This marked Broadcom’s first revenue miss since December 2024. The company’s $7.18 billion infrastructure revenue also missed the $7.32 billion StreetAccount estimate. Semiconductor stocks — Shares of artificial-intelligence semiconductor companies slid following Broadcom’s results. Micron Technology slipped 6%, while Super Micro Computer fell 7%. Intel shed 4% and Advanced Micro Devices lost nearly 5%. Five Below — The discount retailer fell nearly 11%, even as the company provided a better-than-expected outlook. Second quarter revenue is expected to range from $1.18 billion to $1.2 billion, versus the StreetAccount estimate of $1.15 billion. Same-store sales for the period are expected to grow 7% to 9%, versus 4.4% consensus. Petco — Shares of the pet retailer dropped roughly 12% after Petco’s current-quarter forecast came in shy of Wall Street’s expectations. Petco sees second-quarter adjusted EBITDA ranging from $110 million to $112 million. The consensus sought EBITDA of $115 million, per StreetAccount. Robinhood , Coinbase and Strategy — The crypto-related companies moved lower following Bitcoin’s slump. The cryptocurrency was down about 5%. Robinhood shed nearly 2%, Coinbase lost 1% and Strategy shed 2.7% CrowdStrike — The cybersecurity company lost 10% on lackluster second-quarter guidance. CrowdStrike sees Q2 revenue around $1.44 billion, just above a StreetAccount estimate of $1.3 billon. It also expects earnings per share of $1.16 per share to $1.17 per share. Analysts expected a forecast of around $1.16 per share. Shares of Palo Alto Networks and Fortinet also traded lower in sympathy. PVH — The Tommy Hilfiger and Calvin Klein parent plunged 22%% after it reiterated its full-year earnings guidance. The company also posted a Q1 earnings beat, but revenue was about in line with expectations. C3.ai — The artificial intelligence application software company added 1.4%. C3.ai’s fourth quarter adjusted loss came in at 33 cents a share on revenue of $52 million. Analysts polled by LSEG sought a loss of 37 cents per share and $50 million in revenue. UnitedHealth — The health insurer climbed 3% following an upgrade at Bank of America to buy from neutral. The bank said improving medical cost trends and supportive near-term data points set up favorable second-quarter earnings. Medtronic — The medical technology company advanced nearly 2%. BTIG upgraded shares to buy from neutral following Medtronic’s earnings beat Wednesday. The firm said it sees an attractive top-line set up for the company, which is trading at a discount to peers. — CNBC’s Darla Mercado, Fred Imbert and Lisa Han contributed reporting.
Post Comment