Stocks making the biggest moves premarket: Snowflake, Moderna, Broadcom and more
US stock futures: Snowflake jumps on earnings beat and raised outlook Broadcom, Moderna and more move as traders react before the open
U.S. stock futures trading before the open showed sharp moves in several largecap names after earnings, guidance updates and analyst actions.
Snowflake rose 24% after reporting secondquarter results that beat Wall Street expectations on both earnings and revenue, and the software company also lifted its fullyear product revenue outlook. The gains helped push other software names higher, including Datadog, ServiceNow and Salesforce.
Other notable movers included Broadcom, which fell after issuing a fourthquarter revenue forecast that came in slightly below estimates, and Moderna, which slipped after a downgrade from Rothschild & Co Redburn. Several other companies moved on quarterly results, including HPE, Campbell’s, Ultragenyx, Petco, Argan, Five Below, Victoria’s Secret, Netskope and NetApp.