Pre-Open Movers: Snowflake Jumps Post EPS, Salesforce and NVIDIA Fall

Pre-Open Stock Movers:

Snowflake (NYSE: SNOW) 19% HIGHER; reported Q2 EPS of ($0.70), $0.69 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $497.25 million versus the consensus estimate of $467.4 million.

Peloton (NASDAQ: PTON) 15% LOWER; reported Q4 EPS of ($3.68), $2.92 worse than the analyst estimate of ($0.76). Revenue for the quarter came in at $678.7 million versus the consensus estimate of $682.4 million. Peloton sees Q1 revenue of $625-$650 million, versus the consensus of $783.3 million.

Abercrombie & Fitch (NYSE: ANF) 13% LOWER; reported Q2 EPS of ($0.30), $0.53 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $805 million versus the consensus estimate of $844.72 million. Operating margin in the range of 1 to 3%, down from previous outlook of 5 to 6% primarily reflecting lower sales due to an assumption of lower AURs needed to keep inventory current. Mitigating these factors will be actions to reduce certain expenses, and adjust inventory receipt levels and cadence by region in response to current market forces.

FIGS (NYSE: FIGS) 13% HIGHER; Ron Baron, on CNBC, called it the 'Lululemon of Healthcare'.

Amwell (NYSE: AMWL) 12% HIGHER; gains on reports from the Washington Post Amazon (NASDAQ: AMZN) will shut down its telehealth offering.

Splunk (NASDAQ: SPLK) 10% LOWER; reported Q2 EPS of ($1.30), which may not compare to the analyst estimate of ($0.36). Revenue for the quarter came in at $799 million versus the consensus estimate of $748.97 million. Splunk sees Q3 2023 revenue of $835-855 million, versus the consensus of $834.82 million. Splunk sees FY2023 revenue of $3.35-3.4 million, versus the consensus of $3.33 million.

Dollar Tree (NASDAQ: DLTR) 8% LOWER; reported Q2 EPS of $1.60, $0.01 better than the analyst estimate of $1.59. Revenue for the quarter came in at $6.77 billion versus the consensus estimate of $6.8 billion. Dollar Tree sees FY2022 EPS of $7.10-$7.40, versus the consensus of $8.19. Dollar Tree sees FY2022 revenue of $27.85-28.1 billion, versus the consensus of $28.2 billion.

Salesforce (NYSE: CRM) 8% LOWER; reported Q2 EPS of $1.19, $0.16 better than the analyst estimate of $1.03. Revenue for the quarter came in at $7.72 billion versus the consensus estimate of $7.7 billion. Salesforce sees Q3 2023 EPS of $1.20-$1.21, versus the consensus of $1.29. Salesforce sees Q3 2023 revenue of $7.82-7.83 billion, versus the consensus of $8.07 billion. Salesforce sees FY2023 EPS of $4.71-$4.73, versus the consensus of $4.75. Salesforce sees FY2023 revenue of $30.9-31 billion, versus the consensus of $31.73 billion.

Grab Holdings (NASDAQ: GRAB) 6% HIGHER; reported Q2 EPS of ($0.15), $0.06 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $321 million versus the consensus estimate of $276.59 million. Grab Holdings sees FY2022 revenue of $1.25-1.3 billion, versus prior of $1.2-1.3 billion.

Autodesk (NASDAQ: ADSK) 6% HIGHER; reported Q2 EPS of $1.65, $0.08 better than the analyst estimate of $1.57. Revenue for the quarter came in at $1.24 billion versus the consensus estimate of $1.22 billion. Autodesk sees FY2023 EPS of $6.52-$6.71, versus the consensus of $6.54. Autodesk sees FY2023 revenue of $4.99-5.04 billion, versus the consensus of $5.01 billion.

NetApp (NASDAQ: NTAP) 6% HIGHER; reported Q1 EPS of $1.20, $0.10 better than the analyst estimate of $1.10. Revenue for the quarter came in at $1.59 billion versus the consensus estimate of $1.55 billion. NetApp sees Q2 2023 EPS of $1.28-$1.38. NetApp sees Q2 2023 revenue of $1.595-1.745 billion, versus the consensus of $1.66 billion. NetApp sees FY2023 EPS of $5.40-$5.60.

Teladoc (NYSE: TDOC) 5% HIGHER; gains on reports from the Washington Post Amazon (NASDAQ: AMZN) will shut down its telehealth offering.

NVIDIA (NASDAQ: NVDA) 3% LOWER; reported Q2 EPS of $0.51, $0.01 better than the analyst estimate of $0.50. Revenue for the quarter came in at $6.7 billion versus the consensus estimate of $6.83 billion. NVIDIA sees Q3 revenue of $5.90 billion, plus or minus 2%, versus the consensus of $6.92 billion.

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