Software Maker Drops in Premarket
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Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were flat on Monday. Investors are chilling out after optimism surrounding rate cuts and easing inflation pushed the S&P 500 to a new record. The next catalyst could be Tuesday’s consumer price index report, which has the potential to shape timing of a first Fed rate cut.
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Trimble Inc. (Nasdaq: TRMB)
Trimble is down 8.59% in premarket trading after the company warned investors that it expects revenue to fall this year, despite posting sales growth for the last three months of 2023. The technology provider reported a fourth-quarter profit of $63 million, or 25 cents a share, down from $85.6 million, or 34 cents a share, in the same period a year earlier. This year the company expects revenue to be $905 million to $935 million, below the $980.1 million that analysts expected.
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