Stocks making the biggest moves premarket: Box, Insulet, HP and more
Check out the companies making headlines before the bell.
Align Technology — Shares rose 2.5% in early morning trading afterHSBC initiated coverage with a buy rating. The firm cited the Invisalign maker's strong brand presence and its potential to grow market share in digital orthodontics.
Hewlett Packard Enterprise — The tech stock fell nearly 2% in premarket trading after the company's quarterly report. HPE posted adjusted earnings of 49 cents per share for its fiscal third quarter, 2 cents higher than a Refinitiv estimate. Revenue of $7 billion matched expectations.
Insulet — Insulet jumped 4.4% after CEO James Hollingshead disclosed Tuesday buying 5,550 shares of the medical device maker. Separately, the company announced Monday the launch of an insulin delivery system called Omnipod 5 in Germany, its third market after the U.S. and U.K.
Box — The stock plunged 10.2% premarket after the California-based cloud storage company posted a mixed second-quarter report postmarket Tuesday. Box's revenue came in at $261 million, in line with Wall Street's estimates, according to Refinitiv, while adjusted earnings of 36 cents per share beat analysts' estimates by 1 cent. Box issued weak top- and bottom line financial guidance for the current quarter, and for full-year revenue, according to FactSet.
Texas Instruments — The semiconductor stock lost nearly 2.1% premarket Wednesday after Bernstein downgraded the shares to underperform from market perform, citing concerns revolving around the capital-intensive nature of its long-term strategy to increase in-house chip production.
HP — Shares of the PC and printer maker added 0.7% after revenue for the fiscal third quarter missed Wall Street estimates. HP posted $13.2 billion in
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