A look at companies garnering attention in pre-market trading: C3.ai — Technology stocks fell 19.2% after the company’s first-quarter subscription revenue fell short of expectations. C3.ai posted sales of $73.5 million, while analysts surveyed by FactSet expected $79.2 million. Verizon, Frontier Communications — Verizon announced it would acquire Frontier Communications in a $20 billion cash deal, confirming earlier reports of the deal. Frontier shares fell 9.7%, while Verizon shares rose 1.2%. The deal is expected to close within the next 18 months. Tesla — Electric vehicle stocks rose nearly 3% after the company said it will roll out its “fully self-driving” driver-assistance program in Europe and China in the first quarter of 2025. JetBlue — The airline rose 4.6% after raising its third-quarter revenue outlook. JetBlue said it now expects a 1% profit compared to a 2.5% loss year over year. It had previously expected a 5.5% to 1.5% decline. Topgolf Callaway – The golf company surged 4.1% after announcing it would split into two separate businesses. Callaway will focus on golf equipment and consumers with active lifestyles, while Topgolf will focus on golf entertainment. Hewlett Packard Enterprise – Shares fell 3% after the company’s third-quarter results beat expectations. Hewlett Packard Enterprise showed continued strong demand for artificial intelligence, but gross profit fell year over year. Verint Systems – The automation stock slumped 13.5% after its second-quarter earnings report fell short of expectations. Verint’s adjusted earnings per share were 49 cents on revenue of $210 million. Analysts surveyed by LSEG had expected earnings per share of 53 cents and revenue of $213 million. ChargePoint – Shares of electric vehicle charging company ChargePoint plunged nearly 8% after the company reported second-quarter sales of $109 million, compared with Wall Street’s estimate of $114 million. The company also said it would cut 15% of its workforce and forecast third-quarter sales well below analysts’ expectations. XPO – The trucking company slid 5.4% after it said its less-than-truckload spare tonnage fell 4.6% in August compared with the same month a year ago, with management acknowledging soft demand. Copart – The digital auto auction company’s shares fell 5.4% after disappointing fourth-quarter results. Copart earned 33 cents a share. Analysts had expected earnings of 37 cents a share, according to FactSet. Dick’s Sporting Goods – The sporting goods retailer fell 2.7% in premarket trading, following a roughly 5% drop on Wednesday. Despite the better-than-expected quarterly report, the company felt downward pressure from full-year profit guidance that missed Wall Street’s expectations. StoneCo — The financial technology stock fell 8.3% after Morgan Stanley downgraded it to underweight from equal weight. The firm warned that its payments business could decline as the market becomes saturated. Dollar Tree — Shares fell 1.3% after JPMorgan cut Dollar Tree’s rating to neutral from overweight following the discount retailer’s weak second-quarter results and guidance. Dollar Tree shares fell more than 22% on Wednesday, the day of the earnings report. — CNBC’s Samantha Sabin, Lisa Han and Sarah Ming reported.
AI, TSLA, JBLU, etc.
