American multinational skincare and beauty products brand Estée Lauder’s logo seen in Hong Kong.
Budrul Chukrut | Lightrocket | Getty Images
Explore the companies generating attention before the market opens on Friday.
Palo Alto Networks — Shares of the cybersecurity company traded down 1.8% in premarket trading on Friday. Palo Alto Networks is expected to release its fiscal fourth-quarter earnings later today. According to analysts surveyed by FactSet’s StreetAccount, revenue of $1.96 billion and earnings per share of $1.29 are anticipated.
Ross Stores — Following the release of its earnings report after the market close, shares of the discount retailer surged nearly 5%. Ross Stores reported earnings per share of $1.32 for the second quarter, surpassing the consensus estimate of $1.16. The revenue came in at $4.93 billion, higher than the expected $4.75 billion as per Refinitiv.
Alibaba, JD.com, PDD, Nio — Pre-market trading showed declines in shares of several Chinese companies, including e-commerce giants JD.com and Alibaba, as well as electric vehicle manufacturer Nio. Alibaba was down 2.3% and PDD saw a loss of about 3.5%, while JD.com and Nio dropped by 4.8% and more than 5%, respectively. These moves come as investors weigh the impact of China’s real estate troubles on the country’s economic activity.
XPeng — Chinese electric car maker XPeng saw its shares drop by 7% following the release of its earnings results for the second quarter. The company reported a net loss of 2.8 billion yuan, which was higher than the expected loss of 2.13 billion yuan. However, XPeng’s revenue of 5.06 billion Chinese yuan ($693.7 million) met expectations. Nonetheless, this revenue represented a 31% year-on-year decline.
Applied Materials — Following the release of its fiscal third-quarter results, semiconductor equipment maker Applied Materials witnessed a 2% increase in its stock. The company’s adjusted earnings per share came out to $1.90, beating the expected $1.74 per share forecasted by analysts polled by Refinitiv. Additionally, revenue amounted to $6.43 billion, surpassing the projected $6.16 billion.
Estee Lauder — Shares of cosmetics giant Estee Lauder experienced a 4% decline after the company reported earnings for its fiscal fourth quarter. While the company’s adjusted earnings per share of 7 cents beat the estimated loss of 4 cents per share, revenue of $3.61 billion surpassed expectations of $3.48 billion. However, Estee Lauder issued a weak guidance for the first quarter, expecting a loss ranging from 31 cents per share to 21 cents per share, while analysts had anticipated earnings per
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
