Stocks making the biggest moves premarket: LULU, MU, TTAN
Check out the companies making the biggest moves premarket: Lululemon Athletica — Shares sank 13% after the athleisure company lowered its full-year earnings and revenue guidance , citing headwinds. The company’s current-quarter earnings and revenue guidance also came below what analysts were expecting, per LSEG. Docusign — The software stock slipped 4% after Docusign’s outlook failed to impress the Street. The company sees second-quarter revenue in a range of $865 million to $869 million, encompassing the LSEG consensus estimate of $866 million. Chip stocks — A slew of companies appeared set to fall again on Friday after tumbling on Thursday following Broadcom’s earnings report. Broadcom itself was off 1% again, after it fell 12.5% the day before. Advanced Micro Devices was off almost 3%, while Intel was down more than 2.5%. Arm slipped 5%. Nvidia fared better, only down 1%. Memory stocks — The chipmaker sell-off extended to memory stocks on Thursday, and that continued in premarket trading Friday. Micron Technology and Lam Research were tumbling 3%, while Seagate Technology was down 2.5%. Sandisk fell 1.5%. Cooper Companies — Shares added almost 5% after the medical devices company posted second-quarter adjusted earnings of $1.21 per share, beating the $1.10 per share consensus estimate, per FactSet. Cooper Companies also posted revenue of $1.08 billion, which exceeded the $1.05 billion analysts had penciled in. Guidewire Software — The software stock tumbled 14%. Guidewire posted adjusted gross margin of 66.4% in the third quarter, compared with the 67% analysts sought, per StreetAccount. The company beat expectations on the top and bottom lines for the latest period, however. Chipotle Mexican Grill — Shares were 1.5% after the stock received an upgrade from JPMorgan to overweight from equal weight. The bank said the company’s same-store sales growth in its first quarter makes it think there is more potential upside rather than downside in the stock. Argan — The construction engineering company’s stock gained 11%. First-quarter results surpassed expectations, with Argan earning $3.24 per share on revenue of $291 million. Analysts polled by FactSet were looking for $2.31 per share and revenue of $$256 million. ServiceTitan — The software platform provider with a focus on contractors saw shares pop 16%. ServiceTitan raised its guidance for the full year and now sees adjusted income from operations in a range of $142 million to $147 million. That surpasses its earlier forecast for $128 million to $133 million and the FactSet consensus call for $131.6 million. Crypto stocks — As Bitcoin prices fell another 2% and dropped below $63,000, cryptocurrency-exposed stocks were down with it. Cryptocurrency treasury company Strategy , which triggered the sell-off after selling a small amount of its Bitcoin holding, was also down 2%. Trading platforms Coinbase and Robinhood both declined 1.5%. — CNBC’s Lisa Kailai Han and Darla Mercado contributed reporting
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