Stock futures fell on Thursday as investors worried that rising inflation could force the Federal Reserve to tighten its monetary policy.
Shares of
C3.ai
( AI ) fell 9.6 percent in premarket trading after the artificial intelligence software maker forecast a bigger-than-expected fiscal year loss and forecast adjusted profitability by the end of fiscal 2024. CEO Thomas Siebel says the market opportunity is “immediate and we intend to seize it.” While
C3.ai
He said he still expects cash flow to be positive in fiscal 2024 and fiscal 2025, adding, “We continue to invest in our proprietary AI solutions and do not expect to be GAAP profitable in Q4 FY 24 at this time,” the CEO said.
Stop the game
(GME) The video game retailer was growing 5.7% after reporting a better-than-expected adjusted second-quarter loss. The results followed the departure of CEO Matt Furlong in early June and the naming of Ryan Cohen.
Stop the game
The largest shareholder, as the executive chairman. GameStop continued its recent practice of not holding a conference call to discuss results.
Adjusted second-quarter earnings from the business-automation software company
UiPath
( PATH ) beat Wall Street expectations and the stock rose 4.3%.
UiPath
It said it expects fiscal third-quarter revenue of $313 million to $318 million, and fiscal year revenue of between $1.27 billion and $1.28 billion. Analysts had expected revenue of $1.27 billion for the fiscal year. UiPath’s board has authorized a $500 million share buyback.
ChargePoint Holdings
( CHPT ) The electric vehicle charging company fell 8.9% in premarket trading after reporting a second-quarter loss and adjusted loss worse than analysts’ estimates from a year ago.
Blackberry
(BB) The cybersecurity company fell 10% in premarket trading after forecasting second-quarter revenue of $132 million.
Blackberry
He said revenue was up “mainly due to some large government deals that didn’t close during the quarter.”
Smurfit Kappa Group
He confirmed that he had a discussion with
Westrock
(WRK) on potential integration. According to the Wall Street Journal European Smurfette Kappa was close to a deal to buy Westrock. In a move to create a $20 billion global paper and packaging company. Westrock shares rose 9.9 percent.
Marketing-software company
Ext
( YEXT ) was falling 14% after reporting adjusted earnings for the second quarter that came in line with analysts’ estimates.
Ext
He said he expects third-quarter earnings of 6 cents to 7 cents a share on revenue of $101.5 million to $102.5 million. Revenue for the fiscal year will be 29 cents to 30 cents a share on revenue of $405 million to $407 million. Outlooks for both periods were in line with Wall Street expectations.
Earnings reports are expected from Thursday
Visit
(TTC),
Document symbol
(DOCU),
Guidewire Software
(GWRE),
Smart sheet
(SMAR) and
Planet Labs
(PL)
Write to Joe Woelfel at [email protected]
