Stocks with the biggest gains before the market: Dell, NYCB, HP | Private Equity Weekly
Check out the companies making headlines before the market opens. New York Community Bancorp — Shares of New York Community Bancorp fell more than 20% after the regional bank disclosed late Thursday that it had discovered problems with its “internal controls.” NYCB also announced a change of CEO, effective immediately. Goodrx — Shares of Goodrx rose 5.4% after JPMorgan upgraded the digital health platform to “overweight” from “neutral”, saying concerns about a shift in pharmacy reimbursement models are overdone. GoodRx’s 2024 guidance is a positive turning point and a testament to credibility, the company added. Dell — The computer maker reported fourth-quarter earnings per share (excluding items) of $2.20 on revenue of $22.32 billion, according to data released by the company, beating analysts’ expectations of $1.73 per share on revenue of $221.6 billion, with shares soaring 26% in pre-market trading. London Stock Exchange Group. Hewlett Packard Enterprise — The information technology stock fell 4.4% after reporting a mixed first-quarter earnings report. The company’s earnings per share beat analysts’ expectations by 3 cents, according to LSEG. But HP reported revenue of $6.76 billion, below Wall Street expectations of $7.11 billion. The company also gave weaker guidance for the current quarter. Plug Power – Shares fell more than 5% after disappointing results. But the hydrogen fuel cell company said it has enough cash to stay afloat despite a larger-than-expected loss of $2.30 per share in 2023. In a regulatory filing for the third quarter, the company disclosed doubts about its ability to continue as a hydrogen fuel cell company. Continue to operate. 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 Programs. Autodesk — Shares of Autodesk rose 8% after the software company reported better-than-expected results for its latest quarter. Autodesk reported fourth-quarter adjusted earnings per share of $2.09 on revenue of $1.47 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.95 per share on revenue of $1.43 billion. Advanced Micro Devices – The chipmaker’s stock price continued to rise 3.3% as its valuation climbed above $300 billion on Thursday, driven by investor excitement about artificial intelligence. Root – shares rose more than 10% after Jefferies upgraded the insurance company to buy from neutral. The company said it sees significant growth opportunities for Root. Jeffries also raised his price target to $40 from $30, implying an upside of nearly 25%. —CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Tanaya Macheel, Sarah Min and Michelle Fox contributed reporting.
