**Salesforce, Nutanix, and Snowflake Stocks Surge**
*Cloud software companies report strong earnings*
Salesforce, Nutanix, and Snowflake are making headlines with their impressive performance in the stock market.
**Salesforce Makes Waves with 9% Surge**
Salesforce saw a significant 9% surge in its stock after reporting fiscal third-quarter earnings that surpassed analysts’ expectations. The cloud software company posted adjusted earnings of $2.11 per share on revenue of $8.72 billion. Along with its strong earnings, Salesforce also provided stronger-than-expected guidance for its fiscal fourth quarter.
**Nutanix Shares Climb 8.8%**
Nutanix shares climbed 8.8% after the computer software company reported fiscal first-quarter earnings that exceeded estimates. Nutanix posted adjusted earnings of 29 cents per share, surpassing the 17 cents per share expected by analysts. Its revenue of $511 million also topped the $501 million consensus estimate.
**Snowflake’s Impressive 7.7% Gain**
The cloud stock, Snowflake, gained 7.7% after reporting third-quarter earnings that surpassed analysts’ expectations. Snowflake posted adjusted earnings of 25 cents per share on revenue of $734 million, surpassing the earnings of 16 cents per share on revenue of $713 million expected by analysts. The company also issued fourth-quarter product revenues guidance that exceeded expectations.
**Hewlett Packard Enterprise Sees 4% Surge**
Shares of Hewlett Packard Enterprise (HPE) popped 4% after the company announced an expanded collaboration with Nvidia to build an enterprise computing solution for artificial intelligence. In addition, Morgan Stanley upgraded HPE, stating that further multiple compression is unlikely.
**Robinhood to Launch in the U.K.**
Robinhood Markets saw a 3% rise in premarket trading after announcing its plans to launch its platform in the U.K. early next year.
**Snap and Pinterest Stocks Surge**
Both Snap and Pinterest saw more than a 3% increase in premarket trading following upgrades to buy from Jefferies, with analyst James Heaney noting that both companies “have catalysts for revenue growth upside” in 2024.
**Synopsys Reports Strong Earnings and Revenue**
Synopsys gained 2% after reporting fourth-quarter earnings and revenue that topped estimates. The company reported adjusted earnings of $3.17 per share on revenue of $1.60 billion. It also issued first-quarter and full-year earnings guidance that exceeded estimates.
**Other Notable Performances**
– General Motors saw a 1.7% increase after announcing a $10 billion share buyback, raising its dividend, and reinstating its full-year guidance.
– Ford Motor added 1.2% after reinstating its 2023 guidance.
– Pure Storage, however, tumbled 14.5% in premarket trading after offering a weak revenue outlook, anticipating $782 million in the current quarter and $2.82 billion in the full year, both below Wall Street’s expectations.
The impressive performances of these tech and automotive companies reflect positive investor sentiment in the market. The surge in stock prices demonstrates the confidence investors have in the future growth and potential of these companies.
