The exterior of a Dollar General convenience store is seen in Austin, Texas, March 16, 2023.
Brandon Bell | Getty Images
Discover the key movers and shakers in the market before the opening bell:
Dollar General — The discount retailer experienced a hefty 15.3% decline after releasing its second-quarter earnings per share of $2.13, falling short of the StreetAccount consensus estimate of $2.47. Additionally, the company’s revenue was lower than expected, coming in at $9.80 billion compared to the anticipated $9.93 billion. The second-quarter and full-year guidance also disappointed investors.
Campbell Soup — Shares of Campbell Soup increased by around 1% after reporting a revenue of $2.07 billion, surpassing analysts’ expectations of $2.06 billion. The company’s earnings were in line with expectations.
UBS — U.S.-listed shares of Swiss bank UBS jumped nearly 5% as it reported a second-quarter profit of $28.88 billion, surpassing the projected net profit of $12.8 billion according to a Reuters poll.
Shopify — The e-commerce platform experienced a 7% surge in response to its recent announcement that its merchants can utilize Amazon’s “Buy with Prime” option.
Palantir — Shares of Palantir dropped 3.6% in premarket trading after being downgraded by Morgan Stanley from equal weight to underweight. The Wall Street firm stated that investors are now seeking tangible revenue from the company’s generative artificial intelligence initiatives and may potentially be disappointed. Despite this, the stock has already surged 154% this year.
Salesforce — The software company witnessed a 6.2% jump following its earnings beat after market close on Wednesday. The second-quarter adjusted earnings per share amounted to $2.12, exceeding the consensus estimate of $1.90 provided by Refinitiv. Revenue stood at $8.60 billion, surpassing the $8.53 billion that was expected. In response, Goldman Sachs raised its price target to $340 per share, suggesting a 58% upside.
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