Stock futures declined modestly Thursday after the S&P 500 closed at a record high. Wall Street was headed for its second consecutive quarter of gains.
These stocks were making moves Thursday:
MillerKnoll slumped 17% after the furniture company issued a weaker-than-expected fiscal fourth-quarter forecast, saying that "demand patterns" across much of its business "have continued to be sluggish." The company said it expects adjusted earnings in fiscal 2024 of $1.90 to $1.98 a share, down from its previous projections of adjusted earnings of $2 to $2.16 a share.
Trump Media & Technology Group rose 0.35% in premarket trading. Shares of Donald Trump's social-media company, which houses the Truth Social platform, closed 14% higher on Wednesday after jumping 16% in their trading debut Tuesday.
RH said it expects "business conditions to remain challenging until interest rates ease and the housing market begins to rebound" but anticipates "demand trends to accelerate throughout fiscal 2024." The high-end home-furnishings retailer forecast demand growth of 12% to 14% and revenue growth of 8% to 10% in fiscal 2024. The stock rose 7.8%.
Chemours was falling 10% after the maker of Teflon and paint additives said it was cooperating with information requests from the Securities and Exchange Commission and U.S. attorneys in the Southern District of New York related to an internal review over its accounting. The company last month put three executives on leave as the probe was being conducted.
Sprinklr reported fourth-quarter earnings that beat analysts' estimates and a 19% jump in subscription revenue to $177 million. Shares of the customer-experience software company rose 8.5%.
Braze, the customer-engagement platform, reported a fiscal fourth-quarter adjusted loss of 4 cents a share, narrower than analysts' estimates that called for a loss of 5 cents. Revenue rose 33% to $131 million and subscription revenue jumped to $125.9 million from $94.8 million a year earlier. The stock, however, fell 5.1% in premarket trading.
Fiscal first-quarter adjusted earnings at H.B. Fuller, the adhesives maker, beat analysts' estimates. Revenue in the period rose to $810.4 million from $809.2 million a year earlier but missed Wall Street forecasts of $823 million.
Verint Systems, which provides software tools for customer engagement, reported fiscal fourth-quarter earnings and revenue that beat Wall Street estimates.
Earnings reports are expected Thursday from Walgreens Boots Alliance, Oxford Industries, Torrid Holdings, and MSC Industrial Direct.
Walgreens was up 0.6% ahead of its report. Analysts expect the drugstore chain to post fiscal second-quarter earnings of 82 cents a share on revenue of $35.9 billion.
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