Premarket Movers | HPE Gains 5%; Wells Fargo Jumps 4%; Applied Digital Rises 3%; Asana Sinks 7%
Hewlett Packard Enterprise beat Wall Street's second-quarter revenue and profit estimates, driven by demand for its artificial-intelligence servers and hybrid cloud segment. Shares of the server-maker, which also recorded an impairment charge of $1.36 billion in the reported quarter, rose 5.23% in premarket trading.
Wells Fargo was released from a punitive, seven-year-long $1.95 trillion cap on its assets after the U.S. Federal Reserve lifted the regulatory measure, allowing the bank to pursue unimpeded growth. The shares gained 4% in premarket trading.
Applied Digital shares jumped over 3% in premarket trading. Applied Digital said on Monday it has entered into two 15-year leases with CoreWeave, a specialized cloud services provider backed by Nvidia, which will generate about $7 billion in revenue for the data center operator over the lease period.
Asana reported better-than-expected first quarter results but saw its shares drop 7% in premarket trading as revenue growth continued to decelerate.
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