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Stocks Making the Biggest Premarket Moves: Dell, Mongodb, Lululemon and More

September 1, 2023
minute read

Check out the companies making headlines before the bell:

Dell Technologies:Dell Technologies exhibited impressive performance, with a notable surge of 10.5% above analysts' second-quarter projections. The computer company reported adjusted per-share earnings of $1.74 and revenue amounting to $22.93 billion. In contrast, analysts polled by Refinitiv had anticipated per-share earnings of $1.14 and revenue of $20.85 billion. Morgan Stanley has designated Dell as a top pick in the IT hardware sector.

MongoDB:MongoDB has shown significant progress by surpassing Wall Street's expectations in its most recent quarter. The database software manufacturer reported adjusted earnings of 93 cents per share, accompanied by revenue totaling $423.8 million for the second quarter. These results notably exceeded expectations, with consensus estimates from Refinitiv projecting 46 cents in earnings per share and $393 million in revenue.

Lululemon Athletica:In premarket trading, Lululemon Athletica saw its shares appreciate by 2.3%, following an impressive earnings report. The athletic apparel retailer achieved earnings per share of $2.68 for its second fiscal quarter, surpassing the Refinitiv consensus estimate of $2.54. Additionally, revenue amounted to $2.21 billion, exceeding the expected $2.17 billion. Furthermore, Lululemon has revised its annual guidance upwards.

Walgreens Boots Alliance:During early trading hours, Walgreens Boots Alliance witnessed a modest 0.4% increase. The company recently announced that Roz Brewer had stepped down from her role as Chief Executive Officer and departed from the board.

Vale:Vale, a prominent metals and mining company, recorded an increase of nearly 2% in its stock price. JPMorgan has upgraded Vale from "neutral" to "overweight," citing the compelling value opportunity following a recent pullback and a valuation reset.

VMware:Prior to the opening bell, shares of cloud services provider VMware declined by 1.9%. VMware's second-quarter report presented a mixed picture, surpassing expectations for earnings per share while falling short on revenue. Additionally, the company disclosed its entry into a definitive agreement to be acquired by Broadcom.

Broadcom:Despite Broadcom's fiscal third-quarter results exceeding expectations, the chipmaker's shares experienced a 4% decline. The semiconductor company reported adjusted earnings per share of $10.54 on $8.88 billion in revenue, surpassing analysts' expectations of $10.42 per share and $8.86 billion in revenue. The fourth-quarter revenue guidance of $9.27 billion closely aligned with estimates.

Editorial Board
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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