Check out the companies making headlines before the bell. Snowflake – Shares rose more than 21% after the company’s better-than-expected third-quarter results and strong guidance. Snowflake posted adjusted earnings of 20 cents per share on revenue of $942 million. Analysts surveyed by LSEG had expected earnings of 15 cents per share on revenue of $897 million. Palo Alto Networks – The cybersecurity stock fell 2% after the company released fiscal second-quarter guidance that was broadly in line with expectations. Palo Alto Networks expects adjusted earnings per share to be between $1.54 and $1.56 and revenue between $2.22 billion and $2.25 billion. That was roughly in line with Street forecasts for earnings of $1.55 a share and revenue of $2.23 billion, according to FactSet. Palo Alto also announced a 2-for-1 stock split. Nvidia – The chipmaker’s stock fell about 1% even though its third-quarter earnings results beat Wall Street expectations. LSEG said the company had adjusted earnings of 81 cents a share on revenue of $35.08 billion, while analysts expected earnings of 75 cents a share on revenue of $33.16 billion. was. Crypto-related stocks – Stocks related to Bitcoin rose after the price of the cryptocurrency reached $98,000 for the first time. MicroStrategy soared about 11% and Coinbase rose nearly 4%. Other crypto-related stocks also rose, including miner Mara Holdings and financial services platform Robinhood, rising nearly 10% and more than 3%, respectively. Baidu – The Chinese search engine’s U.S. shares fell more than 1% after the company’s third-quarter revenue fell 3% from a year earlier. That said, Baidu recorded a 12% increase in non-online marketing revenue. This was mainly driven by the artificial intelligence cloud business. BJ’s Wholesale Club – Shares soared nearly 8% after the warehouse club reported higher third-quarter profits and raised its full-year outlook. BJ’s also announced a $1 billion stock buyback plan and increased membership fees. MELS – Shares rose 2.5% after Goldman Sachs began reporting on the cancer drug company with a buy rating, saying it expects strong future profits on the back of Mels’ cancer treatment. —CNBC’s Sarah Min, Ha-Kyung Kim and Michelle Fox Theobald contributed reporting.
SNOW, NVDA, BJ etc.
