Today's Pre-Market Stock Movers: BIDU, PANW, ZIP, KEYS and More

Movers and Shakers wrote a column · Feb 22, 2023 08:01

Gapping up

$Baidu(BIDU.US)$+7.6% (The Chinese search-engine giant reported fourth-quarter revenue higher than analysts' estimates and said it would buy back $5 billion of stock.)

$Palo Alto Networks(PANW.US)$ +8.9% (The cybersecurity company boosted fiscal-year guidance after posting better-than-expected fiscal second-quarter adjusted earnings and revenue.)

$Toll Brothers(TOL.US)$ +3.8% (The home builder posted fiscal first-quarter earnings that beat analysts' estimates.)

$Garmin(GRMN.US)$ +4.3% (The company posted fourth-quarter earnings that beat consensus estimates. The company reported consolidated revenue of $1.31 billion, a 6% decrease compared to the prior year quarter, and earnings per share of $1.35. Analysts served by StreetAccount had expected a $1.3 billion in revenue and earnings per share of $1.19.

Gapping down

$Coinbase(COIN.US)$ -1.72% (The crypto broker reported a narrower-than-expected fourth-quarter loss but said that although the crypto market had "improved" it had "limited certainty around the rest of the year.")

$Keysight Technologies(KEYS.US)$ -7.9% (The company issused a weaker-than-expected outlook for the fiscal second quarter. Keysight expects earnings per share to be in the range of $1.91 and $1.97 with revenue in the range of $1.37 billion to $1.39 billion, which fall short of FactSet analysts' estimates of $1.94 and $1.4 billion, respectively.)

$ZipRecruiter(ZIP.US)$ -15.2% (The companuy provided guidance for fiscal first-quarter revenue of $176 million to $182 million, down about 21% from last year at the midpoint and below analysts' expectations of $206.8 million. ZipRecruiter said employers during the first few weeks of the year "have moderated their hiring plans and reduced recruitment budgets in response to an increasingly uncertain macroeconomic backdrop.")

$Intel(INTC.US)$ -1% (The chipmaker cut its quarterly dividend to 12.5 cents per share. "Prudent allocation of our owners' capital is important to enable our IDM 2.0 strategy and sustain our momentum as we rebuild our execution engine," CEO Pat Gelsinger said.)

Earnings are expected after Wall Street closes from Nvidia (NVDA), Lucid (LCID), and eBay (EBAY).

Source: Dow Jones, CNBC

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