{"id":14083,"date":"2023-05-26T07:01:52","date_gmt":"2023-05-26T11:01:52","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/marvell-nvidia-workday-gap-paramount-and-more-stock-market-movers\/"},"modified":"2023-05-26T07:01:53","modified_gmt":"2023-05-26T11:01:53","slug":"marvell-nvidia-workday-gap-paramount-and-more-stock-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=14083","title":{"rendered":"Marvell, Nvidia, Workday, Gap, Paramount, and More Stock Market Movers"},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

Stock futures slipped but remained steady Friday\u00a0as the White House and House Republicans drew closer to reaching an agreement on raising the U.S. debt ceiling.<\/p>\n

These stocks were poised to make moves Friday:\u00a0<\/p>\n

\n Marvell Technology
\n (MRVL)\u00a0was surging nearly 17% after the semiconductor company issued a solid growth outlook, with CEO Matt Murphy saying that while the company was \u201cstill in the early stages\u201d of its artificial intelligence ramp, \u201cwe are forecasting our AI revenue in fiscal 2024 to at least double from the prior year and continue to grow rapidly in the coming years.\u201d<\/p>\n

\n

\n Nvidia
\n (NVDA) dipped slightly in premarket trading. The stock closed with a gain of more than 24% on Thursday after the chip maker issued a fiscal second-quarter revenue forecast that smashed analysts\u2019 estimates on the back of surging demand for its chips that enable\u00a0artificial intelligence\u00a0applications. Nvidia gained almost $184 billion in market cap on Thursday, according to Dow Jones Market Data, marking the third-largest one-day market-cap gain on record for any U.S. company.<\/p>\n

\n Workday
\n (WDAY)\u00a0was rising 8.8% after first-quarter adjusted earnings topped Wall Street forecasts and subscription revenue rose 20%. The company said it expects second-quarter subscription revenue of $1.611 billion to $1.613 billion, up 18% from a year earlier.\u00a0Workday also named a new chief financial officer.<\/p>\n

Costco Wholesale (COST)\u00a0reported fiscal third-quarter earnings and sales that missed expectations and the stock was down 1% in premarket trading. Same-store sales rose 0.3%, below Wall Street estimates that called for growth of 2.8%.<\/p>\n

\n Gap
\n (GPS)\u00a0earned 1 cent a share on an adjusted basis in its fiscal first quarter, surprising Wall Street, which expected the retailer to report a loss of 16 cents. The stock was up 12% in premarket trading.<\/p>\n

\n Ulta Beauty
\n (ULTA) was falling 8.4% in premarket trading after the beauty retailer reported fiscal first-quarter profit that slightly missed estimates. The company raised its fiscal-year sales forecast but guided for a lower operating margin of 14.5% tp 14.8%, down from a previous outlook of up to 15%.<\/p>\n

\n Paramount Global
\n (PARA) rose 8% after The Wall Street Journal reported that that entertainment company\u2019s controlling shareholder,\u00a0Shari Redstone\u2019s National Amusements, secured a $125 million investment from merchant bank BDT & MSD Partners.<\/p>\n

\n MongoDB
\n (MDB) was falling 3.8% to $273.99 after shares of the database software provider\u00a0were downgraded to Sell from Neutral at Guggenheim. The price target was raised to $210 from $205 \u201cbased on modestly raised forecasts,\u201d the analysts said.<\/p>\n

Autodesk (ADSK)\u00a0reported fiscal first-quarter adjusted earnings of $1.55 a share, matching Wall Street estimates, revenue rose 8% in the period to $1.27 billion, and total billings were up 4%. The design software maker said it expects fiscal second-quarter revenue of $1.32 billion to $1.33 billion, in line with forecasts. The stock rose slightly.<\/p>\n

Companies reporting earnings Friday include
\n PDD Holdings
\n (PDD),
\n Booz Allen Hamilton
\n (BAH),
\n Hibbett
\n (HIBB), and
\n Big Lots
\n (BIG).\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stock futures slipped but remained steady Friday\u00a0as the White House and House Republicans drew closer to reaching an agreement on raising the U.S. debt ceiling. These stocks were poised to make moves Friday:\u00a0 Marvell Technology (MRVL)\u00a0was surging nearly 17% after the semiconductor company issued a solid growth outlook, with CEO Matt Murphy saying that while […]<\/p>\n","protected":false},"author":1,"featured_media":14084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-14083","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nMarvell, Nvidia, Workday, Gap, Paramount, and More Stock Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stock futures slipped but remained steady Friday\u00a0as the White House and House Republicans drew closer to reaching an agreement on raising the U.S. debt\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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