Stock futures pointed modestly higher Thursday as investors awaited the latest reading on U.S. inflation. Economists expect the producer price index to have risen 0.3% in February, matching the pace of growth in January.
These stocks were set to make moves Thursday:
SentinelOne reported a fourth-quarter adjusted loss that was narrower than expected on a revenue jump of 38% to $174.2 million, which also beat Wall Street forecasts. The cybersecurity company said it expects fiscal first-quarter revenue of $181 million and fiscal 2025 revenue of $812 million to $818 million. Analysts had been expecting first-quarter revenue of $180.8 million, and fiscal-year revenue of $814.8 million. The stock tumbled 11%.
Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, The Wall Street Journal reported, citing people familiar with the matter. The electric-vehicle start-up said at the end of February there was “substantial doubt” that it could stay in business. Fisker shares dropped 44% to 18 cents.
SoundHound AI shares soared 14% in premarket after surging 25% on Wednesday. Shares of SoundHound AI have soared so far in 2024 -- up a whopping 300%. Investors who bought at all-time lows last January and held on for the ride have undoubtedly made some game-changing profits.
Lennar’s fiscal first-quarter earnings beat analysts’ expectations as new home orders rose 28% to 18,176. Deliveries in the period rose 23% to 16,798 homes.The home builder said it anticipates new orders in the second quarter of between 20,900 and 21,300, and deliveries of up to 19,500 homes. The stock declined 0.9%.
UiPath reported fourth-quarter adjusted earnings of 22 cents a share, beating analysts’ estimates of 16 cents. On a GAAP basis, the automation-software company earned 6 cents a share in the period, swinging from a year-earlier loss of 5 cents. It was UiPath’s first quarter of GAAP profitability. The company said for the fiscal year it expects revenue of $1.555 billion to $1.56 billion, higher than analysts’ consensus of $1.53 billion. The stock rose 0.8%.
Shares of steel company United States Steel fell 13% on Wednesday following a Financial Times report that said President Joe Biden would be expressing his concerns over the proposed takeover of U.S. Steel by Japan’s Nippon in the next few weeks.
Under Armour’s founder and former CEO, Kevin Plank, will be returning to the sportswear company. Plank, who founded Under Armour in 1996, will take control of the company April 1. He will be replacing Stephanie Linnartz, who served a little more than a year as chief executive. Shares of Under Armour fell 1.2% in premarket trading.
Earnings reports are expected Thursday from Adobe, Dollar General, Ulta Beauty, Dick’s Sporting Goods, Smartsheet, PagerDuty, and Blink Charging.
Adobe is expected by analysts to report fiscal first-quarter earnings of $4.38 a share on revenue of $5.14 billion. Shares of Adobe, the leading provider of creative software tools such as Photoshop, Illustrator, and InDesign, were rising 1% ahead of the report scheduled for after the stock market closes Thursday.
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