Tag Archives: Braze Inc

Citrix Systems, Boeing, Nike, Kellogg and more

Pedestrians cross a street in front of a Rite Aid store in Oakland, California.

David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Rite Aid — Shares of Rite Aid rallied more than 16% after it reported a quarterly profit of 15 cents per share, smashing analysts’ expectations for a quarterly loss of 32 cents per share. The drugstore chain also announced a store-closure program it expects will help save about $25 million annually.

Citrix Systems — Citrix shares surged 12.8% after Bloomberg reported that Elliott Investment Management and Vista Equity Partners are considering a joint bid for the software maker, which has been exploring options including a potential sale since September.

Braze — The software company’s shares soared by more than 16% following a quarterly report that included a lower-than-expected loss and better-than-expected revenue. It was Braze’s first earnings report since going public last month.

Micron — Shares of the semiconductor company surged more than 9% after it beat estimates on the top and bottom lines for its fiscal first quarter. Second-quarter guidance also impressed analysts and helped Mircon earn an upgrade from Bank of America.

Nike — Shares jumped 6.5% after the athletic apparel brand posted a better-than-expected quarterly report despite supply chain issues. The company reported quarterly earnings of 83 cents per share, 20 cents a share above the Refinitiv consensus estimate. Revenue also came in above forecasts.

General Mills — The consumer-food giant’s shares fell nearly 4% after the company reported quarterly earnings of 99 cents per share, which missed estimates by 6 cents. General Mills beat revenue estimates for the quarter and raised its full-year sales forecast. On the downside, it said it’s dealing with higher input costs and supply chain disruptions.

Boeing — The aircraft maker’s shares rose 5% after UPS placed an order for 19 of the company’s 767 freighters. Also on Tuesday, RBC named Boeing a top stock pick for 2022, saying it sees free cash flow improving.

Pfizer, Moderna — Vaccine stocks traded lower after the Centers for Disease Control and Prevention director said initial Covid-19 shots “may not be enough” to prevent infection and noted that the omicron variant has more than 50 different mutations. Shares of both Pfizer and Moderna fell more than 3%.

Kellogg — The maker of cereal and other foods saw its shares slip by about 2.3% after it announced union employees have ratified a previously announced tentative agreement for a master contract at its four U.S. cereal plants. The contract covers about 1,400 union-represented employees at plants in Battle Creek, Mich., Omaha, Neb., Lancaster, Pa., and Memphis, Tenn.

SolarEdge — On a strong day for solar stocks, SolarEdge outperformed and rose more than 7% after Cowen named it a top stock pick for 2022. The investment firm said in a note to clients that SolarEdge can benefit from both the residential and commercial rooftop solar markets.

 — CNBC’s Jesse Pound and Hannah Miao contributed reporting

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Nike, Micron Technology, Braze and more

Take a look at some of the biggest movers in the premarket:

Nike (NKE) – Nike jumped 3.5% in the premarket after it reported quarterly earnings of 83 cents per share, 20 cents a share above estimates. Revenue was slightly above forecasts, but the athletic footwear and apparel maker said sales were hurt by a slowdown in production and transportation of its goods.

Micron Technology (MU) – Micron beat estimates by 5 cents a share, with quarterly profit of $2.16 per share. The chip maker’s revenue also came in above consensus. Micron gave an upbeat forecast, amid continued strong demand for its chips. Its shares leaped 8.2% in premarket action.

Braze (BRZE) – Braze reported a lower-than-expected loss and better-than-expected revenue in the cloud computing company’s first report since going public in mid-November. The stock surged 11.9% in the premarket.

Citrix Systems (CTXS) – Citrix shares surged 7.8% in premarket trading following a Bloomberg report that Elliott Investment Management and Vista Equity Partners are considering a joint bid for the software maker.

General Mills (GIS) – General Mills missed earnings estimates by 6 cents a share, with quarterly profit of 99 cents per share. The food producer’s revenue was above Wall Street forecasts. The company raised its full-year sales forecast, as at-home dining demand remains elevated, but said it is still dealing with higher input costs and supply chain disruptions. Its shares fell 1.9% in the premarket.

Rite Aid (RAD) – The drugstore chain earned a profit of 15 cents per share, compared to expectations of a 32 cents per share quarterly loss. Rite Aid also announced a store closure program, initially targeting 63 stores with an expected annual savings of about $25 million. The stock rallied 4% in premarket trading.

FactSet (FDS) – The financial information provider earned $3.25 per share for its latest quarter, 25 cents a share above estimates. Revenue came in above consensus as well, boosted by higher sales of analytics and research solutions.

Moderna (MRNA) – Moderna CEO Stephane Bancel told a Swiss newspaper that work on a booster to protect against the Covid-19 omicron variant could begin within a few weeks, adding that only minor adjustments would be needed. Moderna had said earlier this week that a booster dose of its current vaccine increases protection against the omicron variant by 37-fold.

Nikola (NKLA) – The electric vehicle company will pay a $125 million civil penalty to settle Securities and Exchange Commission charges that it had allegedly defrauded investors. Nikola said the settlement resolves all outstanding issues and investigations. Its shares added 3.1% in the premarket.

SolarEdge Technologies (SEDG) – The solar equipment maker’s stock rose 2.5% in premarket trading after it was named a “top pick” at Cowen. The firm said investor enthusiasm remains high for both solar and fuel cell technology, despite a move by California to dampen solar incentives.

Nvidia (NVDA) – The graphics chipmaker’s stock added 3% in the premarket after it was named a “top pick” at UBS, which notes Nvidia’s “wide moats” in its markets.

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