Home Depot and Duolingo gained in premarket trading after beating expectations, while Fabrinet and memory chip makers dropped despite strong results. Tesla slipped on a report that it plans an August launch of its driverless Cybercab.
Nasdaq-listed names split sharply before the bell, with earnings beats not always translating into gains. Home Depot rose 1.5% after posting fiscal second-quarter results that topped Wall Street forecasts.
The home improvement retailer reported adjusted earnings of $4.92 per share, ahead of the $4.73 expected by analysts polled by LSEG. Revenue of $47.86 billion also beat the $47.27 billion forecast, and the company reaffirmed its full fiscal year guidance.
Tesla moved the other way, dipping 1.2% after The Information reported the automaker is preparing an August launch of its Cybercab, a robotaxi built without a steering wheel.
Fabrinet fell the hardest, dropping more than 9% even though the optical product maker's fourth-quarter earnings and revenue exceeded expectations and it issued upbeat guidance. StreetAccount noted the company flagged usual first-quarter expense seasonality as a temporary margin headwind for fiscal Q1 2027.
Memory chip makers slid as a group, with Micron Technology and SK Hynix each off by more than 4%. Sandisk shares also dropped more than 4% in premarket trading.
Duolingo climbed 3% after D.A. Davidson upgraded the language-learning platform to buy from neutral. The firm said Duolingo is nearing a turning point even as the market has priced in risks around user growth and monetization.
Source: US Top News and Analysis
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