Premarket Winners and Losers
After the previous session’s severe losses, U.S. futures climbed Wednesday ahead of Fed chairman Jerome Powell’s two-day congressional appearance.
Today’s largest pre-market U.S. stock moves:
Top Gainers
CrowdStrike (NASDAQ:CRWD) shares rose 22% after the cybersecurity business provided excellent current-quarter expectations and better-than-expected fourth-quarter performance.
JD (NASDAQ:JD) ADRs gained 11% after the Chinese online retailer reported above-expected fourth-quarter revenue and increased its share repurchase program.
Evgo (NASDAQ:EVGO) shares surged 7.6% after EV charging station revenue tripled and topped fourth-quarter sales projections.
Bitcoin struck a new high earlier in the day, helping Coinbase (NASDAQ:COIN) shares rise 5%.
Box shares increased 3.9% after the cloud content storage and management platform reported its first $1 billion fiscal year and a $100 million share-buyback program.
SoFi Technologies (NASDAQ:SOFI) shares increased 2.9% after falling significantly after announcing intentions to issue convertible senior notes due 2029 to raise $750 million.
Top losers
After reporting a holiday-quarter deficit and disappointing expectations for the year, Foot Locker (NYSE:FL) stock plummeted 11%.
Nordstrom (NYSE:JWN) stock slumped 9.7% after disappointing full-year expectations offset better-than-expected fourth-quarter performance.
Stocks in focus
JD.com (NASDAQ:JD) shares rose 13% after better-than-expected Q4 results. The announcement of a $0.76 per ADS annual cash dividend for 2023 and a new share repurchase program, allowing the Chinese e-commerce giant to repurchase up to US$3B in shares (including ADSs) until March 2027, boosted the performance.
CrowdStrike Holdings (NASDAQ:CRWD) shares rose 25% after its Q4 earnings and forecast exceeded expectations. The firm had a strong quarter, with net new ARR growth of 27% and ending ARR increase of 34%. CrowdStrike expects adjusted EPS of $0.89 to $0.90 in Q1, beating the consensus of $0.82, and sales of $902.2M to $905.8M, exceeding $898.8M. For FY2025, it expects adjusted EPS between $3.77 and $3.97, above the expectation of $3.76 per share, and revenues between $3.92B and $3.989B, against $3.94B. CrowdStrike is also buying cybersecurity firm Flow Security in cash, anticipated to conclude in Q1.
Box (NYSE:BOX) shares surged over 3% as Q4 earnings exceeded expectations. Box predicts adjusted EPS of $0.35 to $0.36, lower than the consensus of $0.38, and revenue of $261M to $263M, slightly above the consensus of $260.97M, in Q1. Box expects sales of $1.08B to $1.085B in FY2024, below the consensus of $1.09B, and EPS of $1.53 to $1.57, below $1.70. Box also announced a collaboration with Microsoft’s (MSFT) Azure OpenAI Service to improve its AI capabilities.
Despite exceeding consensus expectations in Q4, Nordstrom (NYSE:JWN) shares fell as much as 10% after disappointing investors with its FY2024 projection. Nordstrom expects EPS of $1.65 to $2.05 in FY2024, with revenue falling 2% to rise 1%. This contradicts the average of $1.97 per share earnings on $14.65B in sales. Comparable store sales should fall 1% and rise 2.0%.
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