Check out the companies making headlines before the bell:
C3.ai – Shares jumped 17% after C3.ai announced third-quarter results that beat expectations. The enterprise artificial intelligence company posted a lower-than-expected loss of 6 cents per share ex-elements, compared with estimates of a loss of 22 cents, according to Refinitiv. It also posted revenue of $66.7 million, beating expectations of $64.2 million.
Hewlett Packard Enterprise — The technology stock gained nearly 3% after Hewlett Packard Enterprise’s latest quarterly results beat Wall Street estimates. The company reported adjusted earnings of 63 cents per share on revenue 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 fell 11% after ChargePoint Holdings reported a quarterly revenue loss. The electric vehicle infrastructure company reported fourth-quarter revenue of $152.8 million, lower than the $164.6 million forecast, according to consensus estimates from FactSet. The company also issued lackluster guidelines.
Zscaler – Shares of the cybersecurity company fell 11% in premarket trading despite Zscaler beating estimates on higher and lower results for the fourth quarter. The company earned an adjusted 37 cents per share, above the 29 cents analysts expected, according to Refinitiv. However, several analysts pointed to the billing guidelines as a sign of weakness, with Stifel analyst Adam Borg saying in a note to clients that the guidelines were “silent”.
First Solar – Shares gained 1.6% after UBS upgraded First Solar to buy from neutral and raised its price target, saying tax credits will help the stock gain more 20%.
Marvell Technology – The chip stock fell 8% after Marvell Technology reported mixed fourth-quarter results. The semiconductor company reported adjusted earnings of 46 cents per share, just a cent below analysts’ estimates, according to Refinitiv. It recorded revenue of $1.42 billion, beating the consensus estimate of $1.40 billion.
Apple – Shares rose 1% after Morgan Stanley reiterated an overweight rating on Apple, saying investors should look beyond Apple’s near-term challenges to find strong catalysts. Its price target of $180 implies more than 20% upside from Thursday’s close.
Procter & Gamble – The consumer staples company gained more than 1% in the pre-market following an overweight upgrade from neutral by JPMorgan. The Wall Street firm said the consumer is resilient and believes Procter & Gamble will become a driver of earnings growth in the second half of the year.
Broadcom – Shares rose 1.5% after Broadcom beat Wall Street estimates on the top and bottom lines. The semiconductor manufacturing company reported first-quarter earnings of $10.33 per share excluding items on revenue of $8.92 billion. Analysts polled by Refinitiv had expected earnings of $10.10 per share on revenue of $8.90 billion.
Nordstrom – Shares rose 0.6% after Nordstrom reported beaten fourth-quarter earnings per share, according to consensus estimates from Refinitiv. Revenues, however, missed estimates.
Costco Wholesale – Shares fell 2.6% after Costco Wholesale reported a revenue loss in its fiscal second quarter results. The wholesale retailer reported revenue of $55.27 billion, lower than the consensus estimate of $55.54 billion, according to Refinitiv. Costco also beat expectations for earnings per share.
Dell Technologies – The stock fell more than 3% even after Dell Technologies reported fourth-quarter earnings of $1.80 per share excluding items on revenue of $25.04 billion. That beat Wall Street expectations for 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 excluding items on revenue of $2.02 billion. Analysts polled by Refinitiv were expecting earnings per share of $2.34 on revenue of $2.02 billion.
– CNBC’s Michelle Fox and Jesse Pound contributed reporting