The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images
Discover the top companies in premarket trading.
Kroger — The supermarket chain experienced a 2.8% drop after releasing a mixed second-quarter report. Kroger’s earnings per share ex-items reached 96 cents, surpassing the consensus forecast of 91 cents from analysts polled by LSEG, formerly known as Refinitiv. However, Kroger’s quarterly revenue of $33.85 billion fell short of analysts’ expectation of $34.13 billion. Additionally, the company announced that it would spend up to $1.2 billion to resolve most of the claims related to opioids.
Planet Labs — The satellite imagery stock declined by 2.6% in premarket trading following a weaker-than-expected quarterly report on Thursday. Planet Labs reported a loss of 14 cents per share and revenue of $53.8 million in the second quarter, falling short of analysts’ forecasted loss of 8 cents per share and revenue of $54.1 million. The company’s current-quarter and full-year guidance also missed Wall Street estimates.
DocuSign — The electronic signature stock rose by 2.4% in premarket trading after releasing a stronger-than-expected quarterly report on Thursday. DocuSign reported adjusted earnings per share of 72 cents and revenue of $688 million, surpassing analysts’ forecasted earnings of 66 cents per share and revenue of $678 million.
Snowflake — The cloud data provider’s shares rose by nearly 2% in premarket trading after D.A. Davidson initiated research coverage of the stock with a buy rating. The Wall Street firm highlighted Snowflake’s “best-in-class growth rates” and predicted that it would benefit from the increasing demand for artificial intelligence applications.
First Solar — The company’s shares increased by 2.8% in early trading after Deutsche Bank upgraded them from hold to buy on Thursday. Deutsche Bank cited First Solar’s strong growth message during its investors day and raised its price target to $235 per share, implying a 30% upside.
Adobe — The maker of Photoshop software saw a nearly 2% increase in premarket trading after Mizuho upgraded it from neutral to buy. Mizuho cited accelerating web traffic as a reason for the optimistic view on Adobe. The company will announce its next quarterly results on September 14.
Gilead Sciences — The pharmaceutical company specializing in antiviral drugs experienced a 1.6% increase in premarket trading. On Friday, Bank of America upgraded Gilead from neutral to buy, noting that investors had not fully appreciated its growing pipeline. The bank also raised its price target for the stock to $95 from $88, implying more than a 25% upside from Thursday’s closing price.
RH — The luxury home goods retailer’s stock dropped by 7.3% in premarket trading after its third-quarter guidance fell short of analysts’ estimates, as reported by FactSet. RH’s CEO, Gary Friedman, acknowledged the challenging luxury housing market and broader economy, projecting continued difficulty throughout FY23 and into the following year due to mortgage rates trending at 20-year highs. Friedman also stated that rates are not expected to change until the second quarter of 2024, based on the current outlook. For more information, refer to the letter to shareholders.
— Reporting by CNBC’s Yun Li, Sarah Min, Jesse Pound, Michelle Fox, and Scott Schnipper.
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