Check out the companies that are trending in pre-market trading. Intuit — The financial software company’s stock fell about 3% after its current quarter profit outlook fell short of analysts’ expectations. Intuit expects second-quarter earnings of $2.55 to $2.61 per share, while analysts surveyed by FactSet expected earnings of $3.25 per share. Flutter Entertainment – Shares rose more than 1% after Goldman Sachs initiated coverage on the stock with a buy rating and price target, reflecting an almost 20% upside from Thursday’s closing price. The bank cited improved U.S. profit margins and share buybacks as catalysts for future growth. GAP — The clothing retailer’s stock rose more than 20% after the company raised its 2024 full-year outlook for the third time. Gap now expected sales to increase 1.5% to 2%. There will be a “slight increase” compared to the previous year. Ross Stores — The department store chain’s stock rose 7%. Ross’ third-quarter earnings were $1.48 per share, beating analysts’ estimates of $1.40 per share polled by LSEG. Revenue was $5.07 billion, lower than Wall Street’s expectations of $5.15 billion. NetApp — Shares of the data technology company rose 7% after the company reported better-than-expected second-quarter results. NetApp’s adjusted earnings were $1.87 per share on revenue of $1.66 billion, compared to analyst estimates compiled by LSEG of $1.78 per share and revenue of $1.65 billion. . Elastic — Software stock rose 24% after the company beat earnings. Adjusted earnings were 59 cents per share on revenue of $365 million. Analysts surveyed by LSEG had expected earnings of 38 cents a share and revenue of $357 million. — CNBC’s Michelle Fox and Sean Conlon contributed reporting
GAP, NTAP, INTU etc.
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