In Round Rock, Texas, the Dell Technologies headquarters proudly flies its flag high. The company has recently surpassed analysts’ expectations for the second quarter, causing its stock to surge by 10.5%. Dell reported adjusted earnings per share of $1.74 and revenue of $22.93 billion, beating the estimated $1.14 earnings per share and $20.85 billion revenue predicted by Refinitiv. In fact, Morgan Stanley has even named Dell as a top pick in the IT hardware sector.
MongoDB, the database software maker, has also achieved excellent results in its latest quarter. With adjusted earnings of 93 cents per share and revenue of $423.8 million, MongoDB has exceeded Wall Street’s expectations. Analysts had estimated earnings per share of 46 cents and $393 million in revenue, according to Refinitiv.
Meanwhile, Lululemon Athletica, the popular athletic apparel retailer, has impressed investors as well. Its second fiscal quarter earnings per share came in at $2.68, surpassing the Refinitiv consensus estimate of $2.54. The company’s revenue of $2.21 billion also exceeded the expected $2.17 billion. Consequently, Lululemon has raised its guidance for the year, leading to a 2.3% increase in its share price during premarket trading.
Another notable development is the change in leadership at Walgreens Boots Alliance. Walgreens has seen a 0.4% rise in its stock price after its CEO, Roz Brewer, stepped down and left the board of directors.
JPMorgan has recently upgraded Vale, the metals and mining stock, to overweight from neutral. The investment bank believes that Vale’s shares are undervalued and present a compelling opportunity after a recent decline.
On the other hand, VMware, the cloud services company, faced a 1.9% decline before the bell. Although VMware exceeded expectations for earnings per share, it fell short on revenue. In addition, the company announced its definitive agreement to be acquired by Broadcom.
Broadcom, the chipmaker, released its fiscal third-quarter results, which were better than expected. However, despite generating $10.54 in adjusted earnings per share on $8.88 billion revenue, Broadcom’s stock fell by 4%. The fourth-quarter revenue guidance of $9.27 billion was in line with estimates.
Contributions to this report were made by CNBC’s Michelle Fox, Alex Harring, Jesse Pound, and Samantha Subin.
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