Why NetApp Shares Are Trading Higher By Around 17%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
NetApp, Inc. (NASDAQ:NTAP) shares surged by approximately 17% in pre-market trading following the announcement of better-than-expected third-quarter financial results and positive guidance. The company reported adjusted earnings of $1.94 per share, surpassing the market estimates of $1.69 per share, with quarterly sales of $1.610 billion against expectations of $1.591 billion. Other stocks also showed significant movement in pre-market trading, with notable gainers including Nxu, Inc., Minim, Inc., and Dell Technologies Inc., among others. Conversely, several companies experienced declines, such as GigCapital5, Inc., Fisker Inc., and Sidus Space, Inc.
March 01, 2024 | 1:31 pm
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NetApp, Inc. shares rose sharply after reporting better-than-expected Q3 results and positive guidance, indicating strong financial health and future prospects.
The significant pre-market price increase is directly attributed to NetApp's earnings beat and optimistic guidance, which typically leads to increased investor confidence and demand for the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100