U.S. Stocks to Watch: Nvidia, CrowdStrike, Snowflake, Li Auto, Cooper, HP, and More

Dow Jones
08/28

Stock futures edged higher Thursday as markets moved past a tepid outlook from Nvidia, the world's most valuable company, which had stoked fears about demand for artificial intelligence.

These stocks were poised to make moves Thursday:

Nvidia fell 1.5% after it reported fiscal second-quarter adjusted earnings of $1.05 a share, better than analysts' forecasts of $1.01. Revenue of $46.7 billion beat consensus of $46 billion, and data-center revenue jumped 56% to $41.1 billion but was below Wall Street estimates of $41.3 billion. The leading maker of artificial-intelligence chips said it expects third-quarter revenue of $54 billion, plus or minus 2%, versus expectations of $53.4 billion. To the disappointment of investors, the company said its current quarter outlook doesn't assume shipments of its H20 chip to China.

CrowdStrike Holdings dropped 3.5% after reporting second-quarter earnings adjusted earnings of 93 cents a share, better than analysts' estimates of 83 cents, as revenue of $1.17 billion at the cybersecurity company also topped forecasts. For the third quarter, CrowdStrike expects revenue in a range of $1.21 billion to $1.22 billion, below estimates of roughly $1.23 billion. The company also reached an agreement to acquire privately held Onum, a data observability platform, for undisclosed terms.

Snowflake soared 14% after the provider of cloud-based data-warehouse software reported second-quarter adjusted earnings that topped analysts' forecasts and raised its fiscal-year product revenue expectations to $4.395 billion from $4.325 billion. "We have an enormous opportunity ahead as we continue to empower every enterprise to achieve its full potential through data and AI," said CEO Sridhar Ramaswamy.

Pure Storage, a provider of systems based on flash memory technology to enterprise customers, reported second-quarter adjusted profit of 43 cents a share on revenue of $861 million, up 13% from a year earlier. Analysts were calling for earnings of 39 cents a share on revenue of $846 million. Shares rallied 17%.

Cooper Companies plummeted 15% despite posting fiscal third-quarter earnings that beat analysts' expectations. Revenue grew 6% from last year to $1.06 billion while adjusted earnings per share grew 15% to $1.10. The medical devices maker said is sees full-year revenue between $4.08 billion and $4.1 billion, slightly below expectations.

Shares of Veeva Systems were down 3.7% after the cloud-solutions company posted better-than-expected second-quarter adjusted earnings and said it anticipates third-quarter adjusted profit of $1.94 to $1.95 a share, topping consensus estimates of $1.89.

Fiscal third-quarter earnings at Agilent Technologies were in line with analysts' estimates as revenue rose 10% to $1.74 billion. The analytical and clinical laboratory technologies company expects fiscal-year revenue of $6.91 billion to $6.93 billion, an increase of as much as 6.5%, compared with a previous outlook of $6.73 billion to $6.81 billion. Shares fell 2.3%.

HP Inc. was down 2.1%. The computer-products company's fiscal third-quarter earnings matched Wall Street expectations as revenue rose 3.1% to $13.9 billion and topped analysts' projections. HP said it expects strong demand for AI-powered personal computers in the months ahead. The company said it anticipates fourth-quarter adjusted earnings of between 87 cents and 97 cents a share, compared with estimates of 92 cents.

Li Auto's American depositary receipts fell 3.9% after the Chinese electric vehicle maker reported second-quarter adjusted earnings of 19 cents per ADR on revenue of $4.2 billion, missing expectations. Quarterly deliveries was 111,074 vehicles, below the consensus call of 124,700, according to FactSet.

NetApp reported fiscal first-quarter earnings and revenue that edged past Wall Street estimates. The data-storage company said it expects fiscal 2026 adjusted earnings of $7.60 to $7.90 a share versus consensus of $7.75. The stock fell 6.7%.

Nutanix was falling 4.5%. The cloud-computing company posted fiscal fourth-quarter earnings that were better than Wall Street expectations on revenue of $653.3 million, better than consensus and up 19% from a year earlier. The company said it sees fiscal 2026 revenue of $2.9 billion to $2.94 billion; analysts had called for revenue of $2.91 billion.

Urban Outfitters, the apparel and home goods retailer, posted second-quarter earnings that beat Wall Street forecasts as revenue rose 11% to a better-than-expected $1.5 billion. Same-store sales rose 6.7% at its Free People brand and 5.7% at Anthropologie. However, the company warned that tariffs would lower future margins and could lead to price increases. The stock fell 5.1% in premarket trading.

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