Snowflake, Salesforce, Big Lots rise premarket; Pure Storage falls
Investing.com — U.S. futures traded higher Thursday, ahead of the release of key inflation data which could guide future Federal Reserve interest rate decisions.
Here are some of the biggest premarket U.S. stock movers today:
Snowflake (NYSE:SNOW) stock rose 7.7% after the data warehousing company impressed with its third-quarter results, while its guidance pointed to the cloud slowdown coming to an end.
Salesforce (NYSE:CRM) stock rose 9.1% after the cloud software provider raised its annual guidance and posted better-than-anticipated third-quarter earnings.
Big Lots (NYSE:BIG) stock rose 2.1% after the discount retail chain posted a narrower-than-expected third-quarter adjusted loss.
Pure Storage (NYSE:PSTG) stock fell 17% after the data storage provider offered up disappointing guidance for its current quarter and 2024, even as third-quarter earnings were above expectations.
Ford (NYSE:F) stock rose 1.7% after the auto giant cut its full-year earnings forecast, saying the U.S. auto workers' strike has led to a $1.7 billion hit to its profit and lost production of thousands of vehicles.
Microsoft (NASDAQ:MSFT) stock rose 0.3% with the tech giant set to take a spot in OpenAI’s board of directors, according to returning CEO Sam Altman, as the artificial intelligence firm stabilizes after a major upheaval in its leadership earlier in November.
Pinterest (NYSE:PINS) stock rose 3.3% and Snap (NYSE:SNAP) stock rose 3.4% after Jefferies upgraded the social media firms to ‘buy’ from ‘hold’, expressing confidence in advertising pricing tailwinds.
Tesla (NASDAQ:TSLA) stock rose 1.1% with the EV manufacturer set to start deliveries of its long-delayed Cybertruck electric pickup.
ImmunoGen (NASDAQ:IMGN) stock soared 84% after
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