Stocks Making The Biggest Premarket Moves: SentinelOne, Lululemon, Dupont, And More

MongoDB, the data developer platform, experienced a significant surge of 27% following a strong second-quarter forecast. The company expects revenue between $388 million and $392 million, surpassing analysts' forecast of $362 million. MongoDB also exceeded expectations for both earnings and revenue in the most recent quarter.

‍

On the other hand, cybersecurity company SentinelOne saw its shares drop over 35% in premarket trading. This decline was a result of missing revenue expectations for the first quarter and reducing its full-year revenue guidance. The company reported first-quarter revenue of $133.4 million, below the consensus estimate of $136.6 million. For the second quarter, SentinelOne expects revenue of $141 million, falling well short of the consensus estimate of $152.1 million. The company attributed the slower sales growth to macroeconomic pressure.

‍

Athleisure company Lululemon witnessed a significant jump of over 14% in its shares following a strong performance in its fiscal first quarter. Lululemon reported a top and bottom line beat, with sales growing 24% compared to the previous year. The company also raised its full-year outlook, further boosting investor confidence.

‍

Dupont De Nemours, a chemicals products maker, experienced a 3% increase in its shares during early morning trading. This positive movement came after the company, along with The Chemours Company and Corteva, reached a settlement with U.S. Water Systems to resolve all claims related to per- and poly-fluoroalkyl substances (PFAS) in drinking water. The settlement involves the three companies collectively contributing $1.185 billion to a settlement fund. Chemours saw a rise of about 2%, while Corteva's increase was less than 1%.

‍

Trade Desk, an online ad company, observed a sharp increase of over 3% after receiving an upgrade from Morgan Stanley. The stock was upgraded from equal-weight to overweight, with the Wall Street firm identifying The Trade Desk as a top pick set to thrive in a stabilizing market for sales. Morgan Stanley's $90 price target suggests a more than 20% upside for the stock.

‍

Tesla, the electric vehicle manufacturer, saw a modest rise of over 1% following a Bloomberg report indicating that China is considering extending tax exemptions for cheaper electric cars for another four years.

‍

Cloud company Samsara experienced a significant share jump of nearly 14% after reporting a smaller-than-expected loss and better-than-expected revenue in the first quarter. The company also expanded its full-year sales guidance, further fueling positive investor sentiment.

‍

However, electric vehicle charging stock ChargePoint slid 5.5% after issuing lower-than-expected guidance for the current quarter. ChargePoint expects revenue to range between $148 million and $158 million, falling short of the consensus estimate of $165.6 million.

‍

Discount retailer Five Below observed a 3.5% increase in shares during early morning trading following mixed results for the latest quarter. The company reported earnings per share that exceeded estimates by 4 cents, according to Refinitiv.

‍

PagerDuty, the cloud computing company, experienced a nearly 16% decrease in shares after issuing weaker-than-expected revenue guidance. The company expects revenue for this quarter to be around $105.5 million, compared to the consensus estimate of $108.8 million from analysts.

‍

Shares of work management platform operator Asana advanced over 6% in premarket trading after reporting a smaller-than-expected loss and revenue that surpassed analyst expectations in the first quarter. Asana's revenue for the period was $152.4 million, compared to the analyst consensus of $150.5 million.

‍