Check out the companies that made headlines before the bell: Salesforce — Shares rose more than 12% after the enterprise software company reported strong third-quarter sales. According to LSEG, Salesforce’s revenue came in at $9.44 billion, beating analysts’ expectations of $9.35 billion. Subscription revenue also exceeded analysts’ expectations. Dollar Tree — Shares rose more than 4% after the discount company reported better-than-expected third-quarter results. Dollar Tree earned $1.12 per share on revenue of $7.56 billion. This beats LSEG’s consensus estimates of $1.07 per share and revenue of $7.44 billion. The company also announced that Chief Financial Officer Jeff Davis will step down from his position. Pure Storage — Shares rose 21% as Pure Storage beat expectations for its fiscal third quarter and highlighted a contract win with a major technology company. CEO Charles Giancarlo said on CNBC’s “Closing Bell: Overtime” that he expects the company to be able to replace 90% of its customers’ storage with its direct flash technology. Following this result, Piper Sandler upgraded Pure Storage from Neutral to Overweight. Foot Locker — Shares fell nearly 15% after the sneaker giant announced disappointing results and sales. Foot Locker also lowered its full-year sales and profit forecasts. The company cited a stronger promotional environment and sluggish demand outside of key sales periods. Okta — Shares rose more than 13% after the identity and access management software company reported better-than-expected third-quarter revenue and revenue. Okta also announced a rosy outlook for the fourth quarter. According to LSEG’s consensus estimate, adjusted earnings of 67 cents per share beat expectations for earnings of 58 cents per share. Sales were $665 million, exceeding expectations of $650 million. Marvell Technologies — The integrated circuit maker has fallen nearly 13% as Marvell beat expectations for the third quarter and gave an upbeat earnings outlook, prompting several Wall Street firms to raise their price targets. It skyrocketed. JPMorgan has set its price target to reflect nearly 36% upside, and says it expects AI and cyclical tailwinds to continue next year, leading to multiple quarters of positive EPS revisions. PSQ Holdings — owner of online marketplace Public Square saw its stock price drop 15% in pre-market trading the day after the monster rally. Shares soared 270% on Tuesday following news that Donald Trump Jr. would join PSQ Holdings’ board of directors. Chewy — The pet supplies retailer fell 6% after posting a profit of just 1 cent per share, compared to the 8 cents per share expected by analysts surveyed by LSEG. Chewy’s revenue of $2.88 billion matched expectations. General Motors – Shares fell 1% after the Detroit automaker announced an additional $5 billion in costs to restructure its joint venture with China’s SAIC Motor Corp. Campbell’s — Shares fell 3% after Campbell’s quarterly net sales fell short of expectations. The food company also named insider Mick Beekhuizen as its new chief executive officer. Roku — Shares rose 4.4% after Needham analyst Laura Martin said the company was likely to be acquired at a “significant premium” over the next 12 months. — CNBC’s Sean Conlon, Michelle Fox, Lisa Han, Yun Li and Pia Singh contributed reporting Correction: An earlier version misspelled Campbell’s name.
CRM, FL, PSTG, PSQH etc.
