SentinelOne, Lululemon, Dupont and more
A display of Canadian sportswear retailer Lululemon’s logo seen in one of their stores.
Alex Tai | LightRocket | Getty Images
Check out the companies making headlines in early morning trading.
MongoDB — Stock of the data developer platform surged 27% after the company gave a strong forecast for the second quarter, with between $388 million and $392 million in revenue. Analysts predicted $362 million per refinitive. MongoDB also beat revenue and earnings forecasts for the most recent quarter.
SentinelOne — Shares fell more than 35% in premarket trading after the cybersecurity company missed first-quarter revenue expectations and cut its full-year revenue guidance. The company reported first-quarter revenue of $133.4 million, below the FactSet consensus estimate of $136.6 million. It sees just $141 million in revenue for the second quarter, well below the FactSet consensus estimate of $152.1 million. The company said in a shareholder letter that macroeconomic pressures slowed sales growth.
Lululemon — The athleisure company’s shares jumped more than 14% after it reported a top- and bottom-line beat in its fiscal first quarter. The company’s turnover increased by 24% from the previous year. Lululemon also raised its full-year outlook.
Dupont DeNemours — Shares of the chemicals maker rose 3% in early morning trading after the company, along with The Chemours Company and Corteva, reached a settlement with US Water Systems to resolve all claims related to per- and polyfluoroalkyl substances, also known as PFAS, in drinking water. The companies will collectively contribute USD 1.185 billion to a settlement fund. Chemours rose about 2%. Corteva was higher by less than 1%.
Trade Desk — The online ad company saw its shares rise more than 3% after Morgan Stanley upgraded the stock to overweight from equal weight. The Wall Street firm said The Trade Desk is a top pick set to thrive in a stabilizing market for sales. The price target of $90 represents a more than 20% upside for the stock.
Tesla — Shares of the electric car maker rose more than 1 percent after a Bloomberg report that China is considering extending tax exemptions for cheaper electric cars for another four years.
Samsara — The industrial cloud company saw shares jump nearly 14% after it reported a smaller-than-expected first-quarter loss and better-than-expected revenue, according to FactSet, and extended its full-year sales guidance.
ChargePoint — Electric vehicle charging stock fell 5.5% after the company issued light guidance for the current quarter. ChargePoint said revenue would be between $148 million and $158 million this quarter, below the FactSet consensus estimate of $165.6 million.
Five Below — The discount retailer’s shares rose 3.5% in early morning trading after mixed results for the latest quarter, including earnings per share that beat estimates by 4 cents, according to Refinitiv.
PagerDuty — PagerDuty stock fell nearly 16% after the cloud computing company issued weaker-than-expected revenue guidance. The company said revenue this quarter would be only as much as $105.5 million, compared with a consensus analyst estimate of $108.8 million, according to FactSet.
Asana — Shares rose more than 6% premarket after the labor management platform operator reported a smaller-than-expected loss and revenue that beat analysts’ expectations in the first quarter. Asana’s revenue last period was $152.4 million, compared with the analyst consensus of $150.5 million from FactSet.
— CNBC’s Hakyung Kim, Jesse Pound and Yun Li contributed reporting
