Stock Futures Rise Ahead of U.S. Jobs Report

Introduction

Stock futures are trading higher as market participants eagerly await the release of the monthly U.S. jobs report. Economists predict that the U.S. will have added 170,000 jobs during the month of August.

Dell Technologies Exceeds Expectations

Dell Technologies (DELL) has reported impressive second-quarter earnings, surpassing both its own forecast and the expectations of Wall Street. On an adjusted basis, the company earned $1.74 per share, significantly higher than the projected $1.10 per share. Additionally, Dell Technologies generated $22.9 billion in revenue, beating forecasts of $20.9 billion. The strong performance was driven by the company’s PC and enterprise infrastructure businesses. Furthermore, Dell Technologies issued fiscal-year guidance that exceeds analysts’ estimates, which has contributed to a 9.2% increase in premarket trading for the stock.

Broadcom Provides Solid Third-Quarter Results

Broadcom (AVGO) has reported robust third-quarter results, outperforming analysts’ expectations. The chip maker achieved adjusted earnings of $10.54 per share, compared to $9.73 per share in the same period last year. This figure also surpassed analysts’ estimates of $10.43 per share. Furthermore, Broadcom recorded revenue of $8.88 billion, slightly exceeding estimates of $8.85 billion. However, despite these positive results, the stock has experienced a 4.3% decline in premarket trading as the company’s forecasted fourth-quarter revenue aligns with Wall Street estimates.

Tesla Introduces Upgraded Model 3

Tesla (TSLA) has unveiled an enhanced version of its Model 3 electric vehicle in China. The revamped model boasts an extended range; however, this improvement comes with a price increase of approximately 12%. Simultaneously, Tesla has reduced prices for its higher-end models, the Model S and Model X, which have starting prices of around $100,000. Despite these developments, Tesla’s shares have faced a minor decrease of 0.7%.

Apple Sees Minor Boost Following Challenging Month

Apple (AAPL) has experienced a 0.2% rise in premarket trading after enduring a difficult month. In August, the world’s most valuable company witnessed its worst monthly decline since December, with a nearly 5% decrease. Additionally, Apple concluded its longest monthly winning streak in nine years and a seven-month winning streak, the longest since August 2014.

Nutanix Reports Strong Fiscal Fourth-Quarter Revenue and Approves Stock Repurchase

MongoDB Exceeds Forecasts with Impressive Second-Quarter Earnings

In premarket trading, shares of MongoDB (MDB) jumped by 5.9% following the company’s outstanding second-quarter adjusted earnings of 93 cents per share. This figure convincingly outperformed the forecasted 46 cents. MongoDB’s President and CEO, Dev Ittycheria, emphasized the platform’s ability to support all types of applications, including the increasingly demanding AI-specific ones. This strength in technology further solidifies MongoDB’s competitive edge in the world of AI.

Lululemon Athletica Outperforms Expectations and Raises Fiscal-Year Guidance

Lululemon Athletica (LULU) has exceeded analysts’ estimates in the second quarter and consequently increased its fiscal-year guidance. The yoga-pants retailer witnessed a 1.6% rise in stock as a result.

PagerDuty Beats Estimates with Strong Second-Quarter Earnings and Revenue

Despite surpassing estimates in terms of second-quarter adjusted earnings and revenue, PagerDuty (PD) experienced a 6.8% decline in stock value. However, the cloud-computing company remains optimistic, forecasting third-quarter revenue between $106.5 million and $108.5 million compared to analysts’ projections of $107.3 million.

Intel Receives Positive News as CEO Highlights Strong Performance

Intel (INTC) saw a modest 0.4% increase in premarket trading following CEO Pat Gelsinger’s announcement that the chip maker is tracking above the midpoint of its third-quarter guidance. Gelsinger also revealed that Intel had received a substantial prepayment from a major customer for the development of cutting-edge 1.8 nanometer production lines, emphasizing the company’s accelerated construction of a new chip fabrication facility in Arizona.