Check out the companies making headlines before the market opens. CrowdStrike — Shares of CrowdStrike soared 10% after the cybersecurity company reported better-than-expected first-quarter results and strong guidance. CrowdStrike reported adjusted earnings of 93 cents per share on revenue of $921 million, above the 89 cents per share on revenue of $905 million expected by analysts polled by LSEG. Hewlett Packard Enterprise — The technology stock rose 15% after HP reported stronger-than-expected fiscal second-quarter results. The company reported adjusted earnings of 42 cents per share on revenue of $7.2 billion, while analysts polled by LSEG had expected earnings of 39 cents per share on revenue of $6.82 billion. Dollar Tree — Shares of the discount retailer fell 2% after reporting first-quarter results that met analysts’ expectations, according to LSEG. Dollar Tree CEO Rick Dreiling also said the company was considering selling the chain after acquiring Family Dollar in 2015. Shares fell more than 1% and will leave the company. PVH also reported better-than-expected first-quarter profits and revenue and raised its full-year profit guidance. Nio — Shares of Nio rose 1% after the electric car maker received regulatory approval to build a third factory in China, Reuters reported. The company has also received approval to join several other automakers in testing its self-driving technology on the road. AMC Entertainment — The movie theater chain fell 1%. Roaring Kitty posted a screenshot that appeared to reveal a large position in GameStop stock, which has gained nearly 11% so far this week as the meme stock gains momentum. Applied Materials (KLA) — Semiconductor equipment makers each rose 2% after Barclays upgraded the stock to equal weight from underweight. Analyst Tom O’Malley said growth in Chinese spending this year was a catalyst for the upgrade. Instacart — Shares of the e-commerce company rose nearly 2% after research firm Gordon Haskett upgraded the e-commerce company’s stock to “buy” from “hold.” The company said Instacart’s stock had been sold too much and early data was upbeat about the company’s second-quarter results. TSMC — The semiconductor maker’s shares rose 2% after launching 2nm chips, a new generation of chips designed to be faster and consume less power than earlier versions, according to Barclays. The bank also raised its price target on the stock. Hanesbrands — Shares of Hanesbrands rose 15% after the apparel company reached an agreement to sell its Global Champions business to Authentic Brands. The deal could be worth up to $1.5 billion and is expected to close in the second half of 2024.
