The Roku app is seen on a television in Hastings-on-Hudson, New York, July 25, 2023.
Tiffany Hagler-Geard | Bloomberg | Getty Images
Discover the premarket movers in today’s headlines.
Roku — After announcing plans to reduce its workforce by 10%, the streaming stock surged 12.5%. Roku also revised its third-quarter revenue forecast, expecting it to be in the range of $835 million to $875 million, up from the previous guidance of $815 million. Along with the job cuts, Roku intends to consolidate office space and review its content lineup to reduce expenses.
Zscaler — Despite reporting better-than-expected earnings in its fiscal fourth quarter and providing strong guidance for the current quarter, the cloud security company’s stock declined by 1.2%. Zscaler’s adjusted earnings per share stood at 64 cents, surpassing analysts’ forecast of 49 cents, while its revenue of $455 million exceeded consensus estimates by $25 million. Additionally, Zscaler anticipates its earnings and revenue for the current quarter to outperform analysts’ expectations.
Enbridge , Dominion Energy — During premarket trading, Enbridge shares fell by 7.1% after Dominion, which declined by 1.1%, announced its decision to sell its three natural gas distribution companies to Enbridge for $9.4 billion.
ResMed — Following an upgrade to buy from hold by Needham, shares of the medtech device company rose by 2%. Despite a 30% decline in the third quarter, ResMed, which manufactures CPAP devices for sleep apnea, shows improvement amid concerns about the impact of weight-loss drugs on demand for its products.
GitLab — The technology platform’s stock surged 6.5% in premarket trading after a strong second-quarter report was released on Tuesday evening. GitLab’s adjusted earnings per share stood at 1 cent on $140 million in revenue, surpassing analysts’ expectations of a 3 cent loss per share and revenue of $130 million. Furthermore, the company’s revenue outlook for the current quarter exceeded analysts’ forecasts.
Toast — UBS upgraded shares of the restaurant tech stock to buy from neutral, resulting in a 3.8% increase. The upgrade was based on improved potential for quarterly net new additions and margin expansion.
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