Nvidia shares increased by approximately 1% following the announcement of the company’s latest earnings and revenue, which exceeded Wall Street’s expectations for the fourth quarter. Nvidia also provided an optimistic outlook for revenue in the coming quarter, even as it warned of increasing global competition.
Freeport-McMoRan, known for copper production, saw a more than 2% rise in its shares after Jefferies upgraded the company from hold to buy. The upgrade was based on improving trends in free cash flow and cost reductions that could drive growth.
eBay experienced a nearly 8% drop in its stock price after the company’s revenue guidance for the first quarter fell short of analyst expectations. Although eBay’s fourth-quarter results exceeded estimates, the company forecasted lower revenues between $2.52 billion and $2.56 billion, contradicting analyst predictions of $2.59 billion according to LSEG.
Meanwhile, Sterling Infrastructure stocks gained 5% after DA Davidson upgraded its rating to buy from neutral. The upgrade is attributed to expected growth in data center-related infrastructure by 2025.
Snowflake, a data cloud analytics firm, saw its stock surge by over 12%. The company reported fourth-quarter earnings that surpassed expectations, with adjusted earnings per share at 30 cents and revenue of $987 million, against LSEG forecasts of 17 cents per share and $956 million in revenue.
Salesforce experienced a 3.4% decline after posting a fourth-quarter revenue below Wall Street’s forecasts. The reported revenue was $9.99 billion, while LSEG analysts anticipated $10.04 billion, coupled with a weak future guidance.
Nutanix saw its shares rise by 16% after announcing fiscal second-quarter adjusted earnings of 56 cents per share, exceeding the expected 47 cents, and revenue of $655 million, also above predictions of $642 million by LSEG.
Paramount Global stocks decreased by more than 1% following fourth-quarter results that missed estimates. The firm reported a loss of 11 cents per share, versus an expected loss of 12 cents. Additionally, its revenue of $7.98 billion fell short of the anticipated $8.10 billion.
Sweetgreen shares dipped by 11% due to weaker-than-expected guidance for the upcoming year. The company projected full-year revenue between $760 million and $780 million, falling short of LSEG’s estimate of $789 million.
C3.ai‘s shares dropped over 4%, despite favorable quarterly results. They reported a loss of 12 cents per share, better than the anticipated 25 cents, with revenue at $99 million, slightly above expectations.
Lastly, Teladoc Health shares fell nearly 13% after revealing a fourth-quarter loss greater than expected and providing a pessimistic revenue forecast for the upcoming quarter. The reported loss was 28 cents per share, against an expected 24 cents, with revenue expectations between $608 million and $629 million, compared to a forecasted $632.9 million.
The premarket movements reflect investor reactions to financial forecasts and quarterly earnings reports. These fluctuations underline the importance of market expectations against actual performance and predictions.
