Check out the companies that make headlines before the bell. NVIDIA – Artificial Intelligence Chip Darling reportedly asked some of its component suppliers to stop production of its H20 graphics processing units, which fell more than 1%. The company is also reportedly in conversation with the US government about shipping more sophisticated chips to China. Intuit – Stocks have pulled back more than 6%. Financial Technology Company’s fourth quarter results exceeded expectations, but exceeded the adjusted earnings of $2.75 per share against $3.83 billion in revenues surveyed by analysts surveyed by LSEG. The company led to 14% to 15% year-on-year growth for that quarter. It fell below the pencil-tight 15.9% by analysts voted by FactSet. Work Days – Human Resources software companies, alongside analysts’ “expectations,” fell 4% after issuing $2.24 billion after issuing third-quarter subscription revenue guidance. The adjusted operating margin for the third quarter is expected to be 28%, slightly below the 28.1% StreetAccount consensus estimate. Workday warned of challenges in the government and education business. Zoom Communications – Shares in Communications Technology Company won over 4% after its second quarter results beat Wall Street’s expectations. Zoom Communications posted adjusted earnings of $1.53 per share on revenue of $1.22 billion, while LSEG analyst consensus expected earnings of $1.37 per share against revenue of $1.2 billion. RLX Technology – The stock of the China-based e-Vapor company jumped over 8% after its second quarter revenue and revenues broke analyst expectations per fact set. Additionally, quarterly revenues increased 40.3% from the same period last year. Ross Stores – Shares in the discount retailer chain have risen more than 3% after winning $1.56 per share and surpassing forecasts at $1.54 per share. Meanwhile, it reported $5.23 billion against second quarter revenue, based on a consensus estimate of $5.57 billion per LSEG. Cenovus Energy – Canadian oil and gas producer stocks rose 0.5% after saying it would acquire MEG energy in cash and inventory transactions, including $7.9 billion, or $5.688 billion, including debt, as noted in Canadian currency. The deal is expected to end early in the fourth quarter of this year. Lucid – Electric car manufacturer stocks have fallen more than 1% after saying that a 10-10 reverse stock split is expected to take effect next Friday after the bell. He also said the stock is expected to open on a market on September 2nd and begin trading on a split-adjusted basis.
Stock localities making the biggest move: NVDA, INTU, WDAY, ROST
