Dell, Nordstrom, MongoDB Stocks Fall in Premarket; Gap, Zscaler on the Rise
Investing.com — U.S. stock market saw fluctuations on Friday as investors awaited the release of crucial inflation data that could impact future monetary policies. Several major companies experienced significant movements in premarket trading today.
• **Dell Technologies** (NYSE:) shares dropped by 15% after the tech giant revealed a lower-than-expected earnings outlook for the current quarter. The company also mentioned increased spending on server infrastructure for artificial intelligence workloads, which is expected to impact full-year margins.
• **Gap** (NYSE:) witnessed a 23% surge in its stock price after the apparel retailer raised its full-year sales forecast. This positive development indicates that Gap’s turnaround strategy is showing promising results.
• **Nordstrom** (NYSE:) shares declined by 7.5% following the department store chain’s report of a larger-than-anticipated first-quarter loss, despite revenue beating estimates.
• **Zscaler** (NASDAQ:) experienced a 15% increase in stock value after the cloud security firm reported robust quarterly earnings and raised its guidance.
• **MongoDB** (NASDAQ:) saw a 24% decline in its stock price as the database software maker issued a conservative guidance for the quarter and lowered its full-year forecast.
Other notable movements in premarket trading include:
• **Trump Media & Technology Group** (NASDAQ:) shares dropped by 1.6% after a New York jury found former U.S. President Donald Trump guilty in a high-profile hush money trial.
• **Marvell** (NASDAQ:) shares fell by 5.7% as the chipmaker missed revenue expectations for the first quarter due to weak spending in wireless carrier and enterprise markets.
• **Costco Wholesale** (NASDAQ:) witnessed a 0.5% decline in stock price despite surpassing forecasts for third-quarter profit, revenue, and same-store sales, as the company decided against raising membership fees.
• **Ambarella** (NASDAQ:) saw a 20% increase in stock value after reporting a smaller-than-expected loss for the first quarter of fiscal year 2025 and providing an optimistic revenue outlook for the second quarter.
• **Flutter Entertainment** (NYSE:) shares fell by 3% following the announcement of the departure of group finance chief Paul Edgecliffe-Johnson.
Overall, the stock market’s performance in premarket trading indicates a mixed sentiment among investors, with some companies seeing significant gains while others facing declines. As the market awaits key economic data, the future trajectory of these stocks remains uncertain.