Stocks making the biggest moves premarket: Salesforce, Snowflake, Pure Storage and more
Check out the companies making headlines before the bell: Salesforce — Salesforce popped more than 9% after the cloud software company reported fiscal third-quarter earnings that beat analysts' expectations. The company posted adjusted earnings of $2.11 per share on $8.72 billion in revenue. Salesforce also shared stronger-than-expected guidance for its fiscal fourth quarter. Nutanix — Nutanix shares climbed 8.8% after the computer software company reported fiscal first-quarter earnings that topped estimates. Nutanix posted adjusted earnings of 29 cents per share, more than the 17 cents per share expected by analysts polled by LSEG. Its revenue of $511 million also topped the $501 million consensus estimate. Snowflake — The cloud stock gained 7.7% after Snowflake's third-quarter earnings surpassed analysts' expectations. Snowflake posted adjusted earnings of 25 cents per share on revenue of $734 million. That was better than the earnings of 16 cents per share on revenue of $713 million expected by analysts polled by LSEG. It issued fourth-quarter product revenues guidance that also came in above expectations. Hewlett Packard Enterprise — Shares popped 4% after the company announced an expanded collaboration with Nvidia to build an enterprise computing solution for artificial intelligence. In addition, Morgan Stanley upgraded Hewlett Packard Enterprise to equal weight from underweight, saying further multiple compression is unlikely. Robinhood Markets — Shares of the retail brokerage firm rose more than 3% in premarket trading after Robinhood announced it will launch its platform in the U.K. early next year. Snap , Pinterest — Both stocks were more than 3% higher in premarket trading following upgrades to buy from Jefferies, with analyst James Heaney noting both companies "have catalysts for rev growth upside" in 2024. Synopsys — Synopsys gained 2% after reporting fourth-quarter earnings and revenue that topped estimates. The company reported adjusted earnings of $3.17 per share on revenue of $1.60 billion. Analysts polled by FactSet anticipated earnings of $3.04 per share on revenue of $1.58 billion. It also issued first-quarter and full-year earnings guidance that also topped estimates. General Motors — Shares gained 1.7% one day after General Motors had its biggest daily gain since early 2021. On Wednesday, the company announced a $10 billion share buyback, raised its dividend and reinstated its full-year guidance. Additionally, Goldman Sachs on Thursday hiked its price target on General Motors. Ford Motor — The automaker added 1.2% after Ford Motor on Thursday reinstated its 2023 guidance. Last month, it pulled its forecast because of labor strikes and negotiations with the United Auto Workers union. Pure Storage — The data storage stock tumbled 14.5% in Thursday's premarket after offering a weak revenue outlook. The company anticipates $782 million in the current quarter and $2.82 billion in the full year. Both estimates came in below Wall Street's expectations, with analysts polled by FactSet forecasting $918.7 million in the quarter and $2.96 billion for the year. — CNBC's Brian Evans, Michelle Fox, Alex Harring, Jesse Pound and Samantha Subin contributed reporting