Stocks making the biggest moves premarket: Snowflake, Salesforce, C3.ai, Okta and more

The New York Stock Exchange welcomes Snowflake (NYSE:SNOW), on Tues. Dec 21st, 2021, to usher in the first day of winter.
NYSE

Here are the companies that are in the spotlight before the bell rings.

Snowflake

— After revealing a lower-than-expected revenue forecast for the first quarter and the retirement of CEO Frank Slootman, the cloud data company’s stock took a hit. Snowflake’s predicted product revenue came in below analysts’ expectations. Morgan Stanley has also revised its rating of the cloud stock to equal weight.

C3.ai

— The AI software stock experienced a more than 15% surge following impressive earnings. The company reported a less-than-anticipated adjusted loss per share, with revenue also beating expectations.

Salesforce

— Despite beating Wall Street’s fiscal fourth-quarter expectations, Salesforce’s weak revenue forecast for the upcoming fiscal year led to a marginal decline in its stock. The software giant predicts single-digit revenue growth.

Okta

— Thanks to a strong quarter and promising future outlook, the identity-management company saw a more than 25% surge in its shares. Bank of America gave the shares a double upgrade to a buy.

Duolingo

— Following a Q4 earnings and revenue beating analysts’ predictions, shares in the edtech firm surged 20%. The company has also provided robust revenue forecasts for the first quarter and the full year.

Birkenstock

– The footwear retailer’s shares enjoyed a more than 3% premarket rise following a first fiscal quarter revenue surpassing analysts’ expectations. However, its earnings for the period were below the forecast.

AMC Entertainment

— Despite surpassing Wall Street’s revenue estimates, AMC Entertainment reported a heavier loss than expected, leading to a 10% drop in its shares.

Paramount Global

— Shares in the media company saw a 2% rise following an unexpected Q4 profit. Rumors of Warner Bros Discovery no longer pursuing a merger with Paramount have also been floating around.

Figs

— After Q4 sales fell short of forecasts and news of the CFO’s impending departure, the apparel company’s shares slid 16%.

Celsius

— Even though the energy drink manufacturer’s earnings report beat expectations, its shares dropped by 4.4%.

Best Buy

— The consumer electronics retailer saw a 2.6% rise in shares after Q4 results surpassed analyst predictions.

Nutanix

— The cloud computing stock enjoyed a 4% rise after beating Wall Street’s quarterly estimates.

Pure Storage

— Following better-than-expected Q4 earnings and an upbeat Q1 forecast, the data storage company’s shares got a bump of more than 9%.

HP

— After missing Q1 revenue estimates, the tech company’s shares were down by 2.2%. The slump in the PC market impacted HP, as customers held off on system upgrades and reduced their spending.

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Stocks making the biggest moves premarket: Snowflake, Salesforce, C3.ai, Okta and more

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