Snowflake, Dollar Tree lead premarket stock moves after earnings updates

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Snowflake, Dollar Tree premarket moves

Highlights

Snowflake surges nearly 37% premarket after beating Q1 expectations with $1.39 billion revenue, $0.39 EPS, and announcing a $6 billion, 5-year AWS deal.
Dollar Tree rises over 11% following Q1 adjusted earnings of $1.74 per share and full-year, current-quarter guidance and DoorDash partnership beating analyst forecasts.
Salesforce falls 1% after current-quarter revenue guidance of $11.27–$11.35 billion misses consensus, despite raising full-year earnings outlook and Q1 beat.

Quarterly results and guidance drive early trading

As reported by CNBC, several U.S. stocks are posting outsized premarket moves as investors react to earnings reports, updated guidance and strategic announcements across sectors.

Snowflake jumps nearly 37% after saying it has signed a plan to spend $6 billion on Amazon Web Services over five years. The cloud data company also reports first-quarter adjusted earnings of 39 cents per share on revenue of $1.39 billion, ahead of LSEG expectations for 32 cents per share and $1.32 billion in revenue.

Dollar Tree rises more than 11% after posting first-quarter adjusted earnings of $1.74 per share, above the $1.53 expected by analysts polled by FactSet. Revenue, current-quarter guidance and full-year guidance all top expectations, and the retailer also announces a partnership with DoorDash for on-demand delivery.

Kohl's gains almost 11% after reporting a narrower first-quarter loss than analysts expected, while Best Buy climbs nearly 8% on an earnings and revenue beat and a 2% rise in comparable sales. Agilent Technologies advances 9% after lifting its full-year adjusted earnings guidance and reporting a second-quarter beat on both revenue and profit.

Hormel Foods adds 10% after fiscal second-quarter adjusted earnings exceed FactSet expectations, and NCino climbs 12.5% after raising its full-year revenue guidance. Nutanix also moves higher after a fiscal third-quarter earnings and revenue beat, with a non-GAAP operating margin above analyst forecasts.

Mixed signals spread across software, chips and retail

Not all earnings-related updates are supporting shares in early trading. Salesforce slips 1% after forecasting current-quarter revenue of $11.27 billion to $11.35 billion, below the $11.36 billion analysts surveyed by LSEG expect, even as it raises its full-year earnings guidance and beats on first-quarter revenue and profit.

Marvell Technology falls almost 3% despite issuing current-quarter guidance above Wall Street estimates and reporting a first-quarter beat. Synopsys loses more than 2.5% after saying it reaches an agreement with Elliott Investment Management and appoints Jesse Cohn to its board effective June 1, even though its second-quarter results top expectations.

Braze tumbles 10% after reporting first-quarter adjusted earnings in line with estimates, while gross margin misses StreetAccount expectations and full-year non-GAAP operating income guidance lands around consensus. American Superconductor drops almost 7% after projecting current-quarter adjusted earnings and revenue below FactSet expectations.

Elsewhere, Burlington Stores declines 3.5% despite beating first-quarter estimates and guiding above expectations for the current quarter and full year, while Everpure sheds more than 10% even after a first-quarter earnings and revenue beat and stronger operating income guidance. Snowflake's rally is also lifting peers, with DataDog up 6% and ServiceNow rising more than 5.5% in premarket trading.

In our earlier article, we covered Snowflake’s sharp after-hours jump after it raised its annual product-revenue outlook and announced a $6 billion multiyear commitment to Amazon Web Services. We also noted that management pointed to strengthening demand for its core data platform and growing traction in its AI tools, framing the move as part of broader investor enthusiasm for AI-driven cloud and infrastructure winners.

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