Salesforce, Crowdstrike, Ciena rise premarket; Dollar General slumps

August 31, 2023 8:11 AM EDT -- U.S. futures traded in a mixed fashion Thursday, as investors awaited the release of key inflation and unemployment data as clues of future Federal Reserve monetary policy decisions.

Here are some of the biggest premarket U.S. stock movers today:

  • Salesforce (NYSE: CRM) stock rose 5.8% after the software group increased its annual revenue outlook, citing strong demand for its cloud products.

  • Dollar General (NYSE: DG) stock slumped 15% after the discount retailer cut its annual same-store sales forecast as it expects customers to remain under pressure from still-high inflation and pull back on discretionary spending.

  • Crowdstrike (NASDAQ: CRWD) stock rose 1.4% after the cybersecurity company delivered better-than-expected second-quarter results as its AI-powered cybersecurity platform boosted new business wins.

  • Victoria's Secret (NYSE: VSCO) stock fell 6.1% after the lingerie retailer forecast a decline in its third-quarter sales and missed its second-quarter results estimates.

  • Sage Therapeutics (NASDAQ: SAGE) stock fell 0.1% after the biotech company said it would cut its workforce by about 40%, weeks after the U.S. health regulator declined to approve its drug to treat major depressive disorder.

  • Ciena (NYSE: CIEN) stock rose 4.2% after the optical networking company reported fiscal third-quarter results that topped forecasts, citing increased customer activity and an elevated backlog.

  • Palantir (NYSE: PLTR) stock fell 3.7% after Morgan Stanley downgraded its stance on the big data analytics company to ‘underweight’ from ‘equal weight’, saying “near-term optimism in AI product cycle and valuation premium create an unfavorable risk-reward.”

  • Chewy (NYSE: CHWY) stock fell 4.1% after the pet products retailer offered up a weaker-than-expected full-year sales forecast, prompting Evercore ISI to downgrade its stance to ‘in line’ from ‘outperform’.

  • Hostess Brands (NASDAQ: TWNK) stock fell 0.6% after JPMorgan downgraded the bakery company to ‘neutral’ from ‘overweight’, amid uncertainty over the economic slowdown.

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