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Lululemon, Dell, MongoDB rise premarket; Broadcom, PagerDuty falls – StreetInsider

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Posted on mongodb google news. Visit mongodb google news

September 1, 2023 8:22 AM EDT — U.S. futures traded higher Friday, as investors awaited the release of the official monthly jobs report for clues of future Federal Reserve monetary policy decisions.

Here are some of the biggest premarket U.S. stock movers today:

  • Lululemon Athletica (NASDAQ: LULU) stock rose 2.3% after the athleisure apparel retailer said its third quarter was “off to a solid start” as the North American business improves, lifting its annual profit and revenue forecasts for a second time.

  • Broadcom (NASDAQ: AVGO) stock fell 4% after the chipmaker forecast fourth-quarter revenue slightly below expectations, on worries bleak enterprise spending and stiff competition in the networking chip space will outweigh benefits from a boom in artificial intelligence-led demand.

  • Dell Technologies (NYSE: DELL) stock soared 9.5% after the personal computer manufacturer raised its full-year forecast for revenue and profit, benefiting from the artificial intelligence boom and stabilizing demand for computer hardware and server products.

  • MongoDB (NASDAQ: MDB) stock rose 5.2% after the database software company reported strong second-quarter results, exceeding Wall Street analysts’ expectations, while the following quarter’s revenue guidance also impressed.

  • PagerDuty (NYSE: PD) stock slumped over 11% after the cloud computing company offered a weaker than expected outlook, prompting Baird to downgrade the company to ‘neutral’ from ‘outperform’.

  • Walgreens Boots (NASDAQ: WBA) stock rose 0.8% after the pharmacy chain announced CEO Rosalind Brewer has stepped down nearly two-and-a-half years since she took on the role.

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Article originally posted on mongodb google news. Visit mongodb google news

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