Stocks making the biggest moves premarket: DELL, NYCB, HP

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Stocks making the biggest moves premarket: DELL, NYCB, HP

hintsmedia

March 2, 2024

Stocks making the biggest moves premarket: DELL, NYCB, HP

Check out the companies making headlines before the bell. New York Community Bancorp — Shares fell more than 20% after the regional bank disclosed on Thursday evening that it had found issues with its “internal controls.” NYCB also announced a CEO change, effective immediately. Goodrx — Shares added 5.4% after JPMorgan upgraded the digital health-care platform to overweight from neutral, saying concerns about a shifting pharmacy reimbursement model are overdone. GoodRx’s 2024 guidance is a positive inflection point and proof of credibility, the firm added. Dell – Shares surged 26%in premarket trading after the computer maker reported fourth-quarter earnings of $2.20 per share, excluding items, on revenue of $22.32 billion, which exceeded analysts’ earnings expectations of $1.73 per share on revenue of $22.16 billion, according to LSEG. Hewlett Packard Enterprise — The information technology stock shed 4.4% following a mixed earnings report for the fiscal first quarter. The company topped analysts’ expectations for earnings per share by 3 cents, according to LSEG. But Hewlett Packard posted $6.76 billion in revenue, under the Wall Street forecast of $7.11 billion. The firm also gave weaker guidance for the current quarter. Plug Power — The stock fell more than 5% after disappointing results. But the hydrogen fuel cell company said it has sufficient cash to keep operating, despite a wider-than-expected loss of $2.30 per share for 2023. In its third-quarter regulatory filing, the company had disclosed doubts about its ability to continue as a going concern. Daimler Truck — Shares of Daimler Truck, one of the world’s largest commercial vehicle manufacturers, surged more than 17.5% to an all-time high after the company posted a record full-year profit and announced a 2 billion euro ($2.16 billion) share buyback program. Autodesk — Shares jumped 8% after the software company posted a beat in its latest quarterly results. Autodesk reported fourth-quarter adjusted earnings of $2.09 per share on revenue of $1.47 billion. Analysts polled by LSEG had anticipated per-share earnings of $1.95 on revenue of $1.43 billion. Advanced Micro Devices — Shares continued climbing on the back of investor excitement over artificial intelligence, gaining 3.3% after the chipmaker’s valuation climbed above $300 billion on Thursday. Root — Shares jumped more than 10% after Jeffries upgraded the insurance company to buy from neutral. The firm said it sees a material growth opportunity for Root. Jeffries also increased its price target to $40 from $30, suggesting nearly 25% upside. — CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Tanaya Macheel, Sarah Min and Michelle Fox contributed reporting.

Michael Dell, Chairman and CEO of Dell Technologies, is speaking in front of the Dell logo during the ”New Strategies for a New Era” keynote at the Mobile World Congress in Barcelona, Spain, on February 27, 2024.

Joan Cros | Nurphoto | Getty Images

Check out the companies making headlines before the bell.