Shares of Penguin Solutions, Inc. (PENG) are soaring 5.04% in intraday trading on Wednesday, as investors eagerly await the company's second-quarter earnings report scheduled for release after the market close. The significant uptick in stock price suggests that market participants are optimistic about the upcoming financial results.

According to the earnings calendar, Penguin Solutions is set to report its Q2 earnings at 4:05 PM today. Analysts are expecting the company to post earnings of $0.38 per share for the quarter. The strong pre-earnings stock performance indicates that investors may be anticipating results that meet or exceed these expectations.

The tech sector has been experiencing volatility in recent months, making Penguin Solutions' pre-earnings stock surge particularly noteworthy. As the market awaits the official numbers, traders and investors will be closely watching for any surprises in the company's financial performance and future guidance that could further impact the stock price in after-hours trading and beyond.