Text size
DocuSign’s fiscal first-quarter revenue and billings beat the company’s own guidance.
Courtesy DocuSign
Stock futures indicated Wall Street would open lower Friday, a day after the
S&P 500
crossed into bull market territory.
These stocks were poised to make moves Friday:
DocuSign
(DOCU), the electronic-signature company, was rising 6.3% in premarket trading after fiscal first-quarter revenue and billings beat the company’s own guidance, and it raised its outlook for the fiscal year ending in January. Billings in the quarter were especially noteworthy, jumping 10% from a year earlier to $674.8 million, higher than
DocuSign
‘s original target of 1% to 2%.
General Motors
(GM) gained 4.8% in premarket trading after the automaker said its electric vehicles will be able to access
Tesla
‘s (TSLA) supercharging network in 2024. The deal is similar to the agreement
Tesla
and
Ford
(F) announced in May.
As for Tesla, the stock was jumping 6.2% in premarket trading to $249.36. Shares of the EV giant closed with a gain of 4.6% on Thursday for their 10th straight gain. On Friday, Wedbush raised its price target on Tesla to $300 from $215 and maintained its Outperform rating on the shares.
NIO
(NIO), the Chinese electric-vehicle maker, reported a wider first-quarter loss and revenue that was lower than analysts’ expectations. The company’s outlook for the second quarter also disappointed. American depositary receipts of NIO declined 1.4%.
Shares of
Corning
(GLW), the specialty glass producer, rose 3.2% to $32.70 after analysts at Morgan Stanley upgraded the stock to Overweight from Equal Weight and boosted their price target to $38 from $35.
Target
(TGT) was downgraded to Neutral from Buy at
Citi
,
and the price target was reduced to $130 from $177. Shares of the retailer fell 1.3% in premarket trading to $129.54.
Cloud-based software company
Braze
(BRZE) rose 9.9% after revenue in its fiscal first quarter jumped more than 31% to $101.8 million, and the loss in the period was narrower than analysts’ expectations.
Planet Labs
(PL), the satellite imaging company, sank 17% after guiding for fiscal-year revenue of about $225 million to $235 million, below analysts’ forecasts of about $257 million.
Duckhorn Portfolio
(NAPA), the luxury wine company, raised the low end of fiscal-year sales guidance and boosted its outlook for adjusted earnings to between 64 cents and 66 cents a share, up from its previous outlook of 63 cents to 65 cents. Shares rose 4.9%.
Write to Joe Woelfel at joseph.woelfel@barrons.com
