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Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis, keeping an eye on earnings this morning. Not just in tech, but we got results from a couple of retail names. I want to call them Burlington Code Factory, but I know they're called Burlington Stores.
How they do this morning, Dan, Good morning, Good morning, Nathan. That's right, Burlington Stores TICK or b U r L. Those shares are down about two and a half percent in pre market after earnings. I will put a bit of a caveat in that one. Trading has been relatively light.
We've gone a few trades since the earnings came out, but the markets are still digesting that. So we're looking for those shares to bounce around a bit in the pre market. However, first quarter top and bottom line beat estimates. The company is boosting it's adjusted earnings per share outlook for the year. It sees a low end range of a dollar forty five near which is around estimates top end well above estimates. However, comparable sales for this year
two to four percent. Wall Street was looking for a little bit more around three point two percent. So the comparable sales growth this year looks a little bit light when looking at that midpoint, well, it looks.
Like we're seeing a lot more volume for Dollar Tree after their results. This stock is soaring pre market.
Oh yeah, up ten percent as the discount retail store posted first quarter net sales that meet estimates. Earnings came out ahead of what Wall Street was looking for. Second quarter guidance was stronger than Wall Street was expecting, and the company is raising its full year adjusted EPs outlook while maintaining net sales forecast. Dollar Tree is looking to continue to expand, so in the past quarter it added one hundred and thirteen news stores. It plans to add
four hundred for the entire year. So dltr up over ten percent in pre market. They are investors are welcoming that news.
Well, as if ten percent gain warn't enough, We've got to talk about Snowflake. This this stock is just off the chain this morning.
Absolutely, it is just absolutely up in the sky. Snowflake is a software company and it is giving stronger than expected outlook for the current fiscal year. That has shares up thirty six percent in pre market under ticker snow snow company also announced a six billion dollar multi year agreement to use Amazon's cloud services and chips and Snowflake. Snowflake is seeing increased demand for its main data products.
It has developed AI focused tools to push back against you know, kind of this AI is going to kill software theme that we've been reading about a lot. It has customers using AI assisted coding tools and the number of clients doing that has doubled from the past quarter. So as it weaves AI into it software, it is definitely seeing a strong response from clients on that front.
Well, it was, of course another side of the coin to the software story.
Salesforce doing sahat yeah again. AI adoption is playing out here. Salesforce is down about one percent in the pre market tick or CRM. The company is forecasting revenue for the current period of eleven point three billion dollars and that is shy of Wall Street estimates. That's unnerving investors concerned
about AI disruption. It beat first quarter top and bottom line estimates, but remaining performance obligations, and that's a measure of future sales with slightly below estimates reinforcing concerns over the outlook. So a lot of this is coming down to how well are these software companies integrating AI. Are they able to monetize it? And that is the concern around Salesforce. Salesforce has been promoting its own AI tool,
it's called Agent Force. The company says it's on track to contribute one point two billion dollars to the in fiscal revenue this year, but still not quite what investors we're.
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