Stock futures traded mostly higher as recent economic data suggested the Federal Reserve may end its rate-hiking cycle. Investors await Thursday’s data on personal consumption expenditures, the central bank’s preferred measure of inflation.
sales force
( CRM ), the cloud-based enterprise software provider, reported second-quarter earnings that beat analysts’ estimates and topped forecasts for the third quarter and fiscal year.
sales force
Adjusted revenue for the fiscal year is expected to be in the range of $8.04 to $8.06 on revenue of $34.7 billion to $34.8 billion. Analysts had been forecasting earnings of $7.42 a share on revenue of $34.7 billion. The stock was up 5.5 percent in premarket trading.
Octa
( OKTA ) shares rose 11 percent after the identity management software company reported better-than-expected adjusted earnings and revenue in the second quarter and said it saw signs of stabilization in information technology spending.
Octa
It raised its forecast for the fiscal year, saying it expects adjusted profit of $2.21 billion to $2.22 billion on revenue of $1.17 to $1.20 a share, while analysts had expected 91 cents a share on revenue of $2.18 billion.
UBS Group
(UBS) gained 4.2% after the Swiss bank posted a second-quarter net profit of $29 billion following the June merger of former rival Credit Suisse.
Chewing
(CHWY), an online retailer of pet foods and accessories, a Second-quarter profit surprises And sales exceeded expectations. The company ended the quarter with 20.4 million active customers, which was in line with expectations but down from a year ago.
Chewing
It said it expected third-quarter net sales of $2.74 billion to $2.76 billion, below expectations of $2.79 billion. Chewy shares fell 5.8 percent.
Palantir Technologies
(PLTR) later fell 4.3% to $15.63
Morgan Stanley
The data-analytics software company downgraded shares to Underweight from Equal Weight. Analysts raised their price target to $9 from $8.
CrowdStrike
( CRWD ) earned 74 cents a share in the second quarter, beating analysts’ expectations of 56 cents a share. Revenue rose to $731.6 million from $535.2 million, beating estimates. Annual recurring revenue was $2.93 billion, up 37 percent. The cyber security company raised its outlook for the fiscal year, and its shares rose 1.7 percent.
Arista Networks
( ANET ) rose 1.8% to $190.50 after analysts at Citi gave the data center network hardware supplier a neutral buy and raised its price target to $220 from $177.
Victoria’s Secret
( VSCO ) was down 5.5% in premarket trading after reporting a surprise loss in the second quarter and forecasting fiscal year sales to fall in the low single-digit range from last year.
Five below
(5) The discount retailer’s fiscal-year guidance was reduced by 6% after it adjusted. The company said revenue for the fiscal year is expected to be in the range of $5.27 to $5.55. The five-bottom sales outlook remains unchanged.
Costco Wholesale
(COST) Same-store sales rose 3.4 percent in August. US retail was a weak market, with same-store sales growing just 2.8 percent. E-commerce sales decreased by 2.5%. Shares rose 0.3 percent.
Write to Joe Woelfel at [email protected]
