Stocks making the biggest moves premarket: Coupa, UiPath, Nio and more
Check out the companies making headlines before the bell:
Coupa Software — Shares surged 11.6% after the business management software company surpassed earnings estimates in its recent quarter, and issued strong full-year earnings and revenue guidance. Coupa earned 20 cents per share compared with estimates of 9 cents per share, according to Refinitiv.
UiPath — Shares plunged 22.4% after UiPath issued third-quarter and full-year revenue guidance that was below expectations, though the robotic process automation software company beat earnings and revenue expectations in its most recent quarter.
Nio— The stock dropped 5.7% after the Chinese electric vehicle maker lost $409.8 million in the second quarter, implying significantly widening losses. Nio CFO Steven Wei Fang said the company dealt with cost pressures during Covid shutdowns in April and May.
Newell Brands — Shares dropped 5.4% after Newell lowered its third-quarter revenue guidance. The parent company behind brands such as Yankee Candle and Rubbermaid cited a “significantly greater than expected pullback” in orders as consumers deal with inflation.
Pinterest — Pinterest jumped 4.1% after Wolfe Research upgraded the social media stock to outperform, saying the company can execute on long-term user and monetization goals under its new CEO.
ChargePoint — Shares advanced 3.3% after Credit Suisse initiated coverage of ChargePoint with a buy rating, saying the stock can surge nearly 50% as the market for electric vehicle charging stations gets a boost from the Inflation Reduction Act.
AstraZeneca — Shares declined 2.6% after Morgan Stanley downgraded the stock to equal weight from overweight, saying the stock has a “more balanced” risk-reward profile.