Check out the companies making headlines before the bell:
C3.ai — Shares surged 17% after C3.ai released better-than-expected third-quarter results. The artificial intelligence company posted a smaller-than-expected loss of 6 cents a share, compared to estimates of a 22-cent loss, according to Refinitiv. It also reported revenue of $66.7 million, beating expectations of $64.2 million.
Hewlett Packard Enterprise – The tech stock surged nearly 3% after Hewlett Packard Enterprise’s latest quarterly earnings beat Wall Street estimates. The company reported adjusted earnings of 63 cents per share on sales of $7.81 billion. Analysts polled by Refinitiv were expecting earnings of 54 cents a share on sales of $7.43 billion.
ChargePoint Holdings – Shares plunged 11% after ChargePoint Holdings reported a quarterly loss of revenue. The electric vehicle infrastructure company posted fourth-quarter revenue of $152.8 million, down from a forecast $164.6 million, according to FactSet consensus estimates. The company also issued lackluster guidelines.
Zscaler — Shares of the cybersecurity company fell 11% in premarket trading, even as Zscaler beat estimates for fourth-quarter revenue and earnings. The company earned an adjusted 37 cents per share, according to Refinitiv, which is higher than the 29 cents analysts were expecting. However, several analysts pointed to the billing forecast as a sign of weakness, with Stifel analyst Adam Borg saying in a note to clients that the forecast was “muted”.
First Solar – Shares rose 1.6% after UBS upgraded First Solar to buy from neutral and raised its price target on what tax credits would help the stock gain more than 20%.
Marvell Technology — Chip stock slipped 8% after Marvell Technology reported mixed fourth-quarter results. The semiconductor company reported adjusted earnings of 46 cents per share, just a cent less than analyst estimates, according to Refinitiv. It grossed $1.42 billion, beating the consensus estimate of $1.40 billion.
Apple – Shares rose 1% after Morgan Stanley reiterated an overweight position in Apple and said investors should put Apple’s near-term challenges behind and look for strong catalysts. Its price target of $180 implies an increase of more than 20% from Thursday’s close.
Procter & Gamble – The consumer staples company is up more than 1% premarket after JPMorgan upgraded it from neutral to overweight. The Wall Street firm said the consumer is resilient and believes Procter & Gamble will become an earnings compounder in the second half of the year.
Broadcom — Shares rose 1.5% after Broadcom beat Wall Street estimates for revenue and earnings. The semiconductor company reported first-quarter earnings per share excluding items of $10.33 on sales of $8.92 billion. Analysts polled by Refinitiv were expecting earnings per share of $10.10 on sales of $8.90 billion.
Nordstrom — Shares rose 0.6% after Nordstrom topped fourth-quarter earnings per share, according to consensus estimates by Refinitiv. However, revenue fell short of estimates.
Costco Wholesale — Shares fell 2.6% after Costco Wholesale reported a revenue decline in its second-quarter results. The wholesaler reported revenue of $55.27 billion, down from the consensus estimate of $55.54 billion, according to Refinitiv. Otherwise, Costco beat expectations for earnings per share.
Dell Technologies — Stock fell more than 3% even after Dell Technologies reported fourth-quarter earnings per share excluding items on sales of $25.04 billion. That beat Wall Street’s expectations of earnings per share of $1.63 on sales of $23.39 billion.
Victoria’s Secret – Shares fell 3% after Victoria’s Secret reported mixed fourth-quarter results. The lingerie retailer posted earnings of $2.47 per share excluding items on sales of $2.02 billion. Analysts polled by Refinitiv were forecasting earnings per share of $2.34 on sales of $2.02 billion.
– CNBC’s Michelle Fox and Jesse Pound contributed coverage