DELL, MSTR, URBN and more
Check out the companies making headlines before the bell. Dell Technologies — Shares fell more than 12% after the PC maker said it sees fourth-quarter revenue and earnings below Wall Street expectations . To be sure, the company also gave bullish commentary on artificial intelligence sales growth. Workday — Shares fell about 11% after the human resources software company offered a light fourth-quarter forecast . The company expects $2.025 billion in subscription revenue and an adjusted operating margin of 25%. However, analysts polled by StreetAccount expected $2.04 billion in subscription revenue and a margin of 25.5%. HP — The personal computer maker slumped 8% on disappointing earnings guidance. HP said it expects earnings, excluding items, to range between 70 cents per share and 76 cents per share. Analysts polled by FactSet anticipated guidance of 85 cents per share. Autodesk — The stock slid more than 7% after the software company’s fourth-quarter forecast came in below analysts’ estimates. Autodesk expects earnings per share to be between $2.10 and $2.16, excluding items, and revenue of $1.623 billion to $1.638 billion. Analysts were looking for earnings of $2.12 per share on $1.62 billion in revenue, according to LSEG. Additionally, Autodesk appointed Janesh Moorjani as its chief financial officer, effective Dec. 16. MicroStrategy , Coinbase — Stocks tied to the price of bitcoin rose as the cryptocurrency gained ground on Wednesday following its retreat toward $90,000 Tuesday. Shares of MicroStrategy advanced around 6%, while Coinbase shares rose about 2%. Urban Outfitters — The retailer popped nearly 12% after reporting an earnings and revenue beat postmarket Tuesday. Its adjusted earnings were $1.10 per share, topping the 86 cents expected from analysts polled by LSEG. Revenue came in at $1.35 billion versus the $1.34 billion consensus estimate. CrowdStrike — The cybersecurity stock slipped 4% after cautious guidance from the company. CrowdStrike said it expects between 84 and 86 cents in earnings per share in the fourth quarter, while analysts surveyed by LSEG had penciled in 86 cents. CEO George Kurtz said on an analyst call that the company expects an acceleration in net new annual recurring revenue in the back half of next year, which may be further away than some investors were expecting. Ambarella — The stock soared about 21% on the heels of the semiconductor design company’s upbeat fourth-quarter outlook. Ambarella expects revenue between $76 million and $80 million for the period, above the $69 million that analysts surveyed by LSEG had expected. The company’s adjusted earnings and revenue for the third quarter also beat the Street’s expectations. Nutanix – Shares popped 5.5% after Nutanix posted fiscal first-quarter results that exceeded expectations. Fiscal first-quarter adjusted earnings of 42 cents topped the LSEG consensus estimate of 31 cents. Revenue of $591 million surpassed the expected $572 million. — CNBC’s Samantha Subin, Jesse Pound, Sarah Min, Pia Singh and Michelle Fox Theobald contributed reporting.
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