BOX, PODD, HP Among Pre-market’s Top Stock Gainers

Take a look at the companies generating buzz before the market opens.

Align Technology – Share prices surged by 2.5% in early morning trading following HSBC’s buy rating initiated coverage. The financial firm commended the strong brand presence of Invisalign and its potential to expand its market share in digital orthodontics.

Hewlett Packard Enterprise – The technology company experienced a nearly 2% drop in premarket trading after releasing its quarterly report. HPE reported adjusted earnings of 49 cents per share for the third quarter of its fiscal year, exceeding the Refinitiv estimate by 2 cents. The $7 billion in revenue met expectations.

Insulet – Insulet saw a 4.4% increase in stock value after CEO James Hollingshead revealed his purchase of 5,550 shares. Additionally, the company announced the launch of the insulin delivery system named Omnipod 5 in Germany, adding to its presence in the U.S. and U.K. markets.

Box – Prior to market opening, the California-based cloud storage company witnessed a significant 10.2% drop in stock value after posting a mixed second-quarter report. Box’s revenue matched Wall Street estimates at $261 million, while its adjusted earnings of 36 cents per share surpassed analysts’ expectations by 1 cent. The company’s weak financial guidance for the current quarter and full-year revenue contributed to the decline, according to FactSet.

Texas Instruments – The semiconductor stock experienced a nearly 2.1% premarket decline following Bernstein’s decision to downgrade its shares from market perform to underperform. Concerns were raised regarding the capital-intensive nature of the company’s long-term strategy to increase in-house chip production.

HP – The PC and printer manufacturer’s shares increased by 0.7% after falling short of Wall Street estimates for revenue in the third quarter. HP reported revenue of $13.2 billion, slightly below the analysts’ prediction of $13.37 billion, according to Refinitiv. However, its earnings per share matched expectations at 86 cents, excluding items.

Ambarella – The company’s shares dropped more than 20% due to softer-than-expected forward guidance. While Ambarella outperformed projections for the second quarter in terms of revenue and earnings, it forecasted $50 million in revenue for the third quarter, falling short of analysts’ estimate of $67.6 million according to Refinitiv.

PVH – This parent company of Calvin Klein observed a 2.6% increase in its stock value following a robust earnings report. PVH reported earnings per share, excluding items, of $1.98 on $2.21 billion in revenue. Analysts surveyed by Refinitiv had estimated earnings per share of $1.76 and revenue of $2.19 billion. The company reaffirmed its outlook for full-year revenue and raised its earnings per share forecast for the year.

– Additional reporting by CNBC’s Samantha Subin, Yun Li, and Sarah Min.