Check out the companies making headlines in premarket trading. Nvidia — Shares of the artificial intelligence darling pulled back nearly 2% following a report from Bloomberg that the U.S. Department of Justice subpoenaed the chip company in concert with a broader antitrust investigation. Dick’s Sporting Goods — Stock in the retailer fell about 1% despite its second-quarter results surpassing Wall Street estimates. Dick’s raised the top end of its full-year earnings forecast, predicting earnings in the range $13.55 to $13.90 per share, compared with a prior estimate of $13.35 to $13.75. Analysts polled by FactSet forecast $13.80 per share. Dollar Tree — Shares plunged nearly 11% after the dollar store missed second-quarter revenue estimates and trimmed its full-year forecast. Dollar Tree estimates adjusted earnings in range of $5.20 per share to $5.60, compared with a previous estimate that called for $6.50 to $7 per share. Analysts surveyed by FactSet were looking for a profit of $6.56 per share. Hormel Foods — The packaged food stock fell 8% after fiscal third-quarter sales were weaker than expected and it lowered its full-year guidance. Hormel reported sales of $2.9 billion, below the $2.95 billion projected by analysts, according to FactSet. Sweetgreen — The salad chain’s stock rose 1.8% on the heels of a TD Cowen upgrade to buy from hold that cited Sweetgreen’s introduction of automated kitchens as a catalyst for shares. Zscaler — Shares of the cloud security company slipped nearly 17% after its fiscal first-quarter earnings forecast missed Wall Street estimates. Zscaler expects earnings of 62 cents to 63 cents per share, while analysts polled by LSEG were looking for 73 cents. For the full year, it expects to earn $2.81 to $2.87 per share, compared with an analyst estimate of $3.33 per share. GitLab — Shares of the software developer surged 11% after its third-quarter earnings forecast surpassed Wall Street estimates. GitLab expects to earn 15 cents to 16 cents per share, while analysts polled by LSEG were calling for 11 cents. The company’s full-year revenue forecast of $742 million to $744 million also came in above a forecast $737 million. AMD — Shares of the chipmaker rose 2% in premarket trading, rebounding from a steep 7.8% sell-off a day earlier amid broader weakness in the semiconductor sector. PagerDuty — The cloud computing stock plummeted more than 12% after missing second-quarter revenue estimates and issuing a light forecast for the current quarter. PagerDuty expects third-quarter revenue in the range of $115.5 million to $117.5 million, while analysts surveyed by LSEG called for $120.3 million. Nordstrom — Shares of the department store fell more than 1% after a buyer group that includes Nordstrom’s founding family made an offer to take the company private for $23 per share. — CNBC’s Alex Harring and Jesse Pound contributed reporting
https://www.cnbc.com/2024/09/04/stocks-making-the-biggest-moves-premarket-nvda-gtlb-sg-dltr-and-more.html
