Stocks making the biggest moves premarket: CROX, PARA, DB, SNOW
Check out the companies making headlines in premarket trading. Crocs — The footwear stock ticked up more than 1% after an upgrade to buy from hold at Williams Trading. The investment firm said Crocs’ move to sign actress Sydney Sweeney as a spokesperson for its Heydude brand could help reverse negative sales trends. Agilent Technologies — Shares of the laboratory supply company advanced more than 2% after fiscal third-quarter results surpassed Wall Street estimates on the top and bottom line. The firm reported earnings of $1.32 per share, excluding items, on revenue of $1.58 billion. Analysts polled by LSEG forecast $1.26 and $1.56 billion in earnings per share and revenue, respectively. Nordson — Shares climbed more than 3% after the adhesives company reported better-than-expected fiscal third-quarter results. Nordson notched earnings of $2.41 per share, excluding items, on revenue of $661.6 million. Analysts polled by FactSet expected $2.33 and $656.5 million. Synopsys — Shares gained more than 2% after the software stock reported a a fiscal third-quarter earnings beat on both the top and bottom lines. Synopsys’ earnings came in at $3.43 per share, while analysts polled by LSEG had expected $3.28 per share. Similarly, the company’s revenue of $1.53 billion was higher than the $1.52 billion analyst consensus had estimated. Deutsche Bank — U.S.-listed shares popped 2.4% after the bank announced a settlement with many plaintiffs in a long-running case tied to its acquisition of Postbank. The German bank said it had come to agreements with more than 80 plaintiffs, which equates to almost 60%, for a settlement of 31 euros per share. Wolfspeed — The semiconductor company surged more than 8% after forecasting revenue in the range of $50 million to $60 million from its Mohawk Valley facility, a larger-than-expected contribution that softened an earnings miss. Snowflake – Shares dropped more than 9% even after the software company topped Wall Street’s earnings and revenue expectations for the recent quarter and boosted its full-year product revenue guidance. Analysts cited a deceleration in growth among the reasons for the lackluster stock move. Urban Outfitters — The clothing retailer fell more than 10% on mixed quarterly results. Same-store sales for the Urban Outfitters brand that were open for at least a year fell 9.3% in the second quarter, compared to analysts’ forecasts of an 8.3% decline, according to LSEG. Meanwhile, the company posted a beat on both top and bottom lines. Peloton — Shares jumped 9% after the connected fitness company reported a sales increase for the first time in nine quarters . Peloton’s revenue for the fiscal fourth quarter was $644 million, topping the $631 million consensus estimate, per LSEG. It also reported a loss of 8 cents a share, better than the 17 cent loss expected from analysts. Advance Auto Parts — Shares fell 11% after the aftermarket parts provider posted disappointing second-quarter earnings , and lowered its full-year guidance. Advance Auto Parts reported earnings of 75 cents per share, below the FactSet consensus estimate of 93 cents earnings per share. On the other hand, revenue of $2.68 billion was higher than the anticipated $2.67 billion. Paramount Global — The media conglomerate ticked up more than 2% after The Wall Street Journal reported that Edgar Bronfman upped his bid for National Amusements and a stake in Paramount to $6 billion. — CNBC’s Samantha Subin, Hakyung Kim, Michelle Fox, Lisa Kailai Han, Sarah Min, Jesse Pound and Alex Harring contributed reporting
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