Semiconductor Company Dips 8%

Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures rose on Friday. Major averages are on their way to a positive week. The S&P 500 is up 0.28%, on pace to snap a three-week decline, while the Nasdaq has a 0.6% gain.

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C3.ai (NYSE: AI)

C3.ai is up 16.24% premarket after posting strong revenue numbers for its third quarter. Revenue came in at $66.7 million versus estimates of $64.2 million. C3 is up 90% year-to-date, a reversal from its 2022 performance when shares were severely hit. Its adjusted loss per share came in at 6 cents, narrower than the expected loss of 22 cents.

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Zscaler, Inc. (Nasdaq: ZS)

Zscaler is down 12.08% premarket after the cybersecurity company hiked its revenue forecast for the year while announcing layoffs. It’s cutting 3% of its workforce, a total of 150 positions. It also missed under for revenue at $1.1 billion.

Chargepoint (NYSE: CHPT)

Chargepoint is down 11.01% premarket. Its stock fell after a wider than expected quarterly loss and sales also disappointed. Chargepoint lost $78 million, or 23 cents a share, in the fiscal fourth quarter. Plus, it missed guidance range as “supply challenges” persisted, Chief Executive Pasquale Romano said in a statement.

Marvell Technology, Inc. (Nasdaq: MRVL)

Marvell is down 8.18% premarket after inventory corrections weighed on its earnings forecast. Its adjusted earnings of 46 cents per share came in one cent short of analysts’ estimates, according to Refinitiv. However, it’s revenue of $1.42 billion topped the $1.40 billion analysts had expected.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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