On December 6, 2024, several companies made significant premarket moves following their quarterly earnings reports. Lululemon’s shares surged 9% after exceeding Wall Street’s fiscal third-quarter estimates, while Ulta Beauty saw a nearly 12% increase after reporting strong earnings and revenue that surpassed expectations.
- Lululemon shares rose 9% after earnings beat.
- Samsara stock fell over 9% on guidance.
- Ulta Beauty's earnings exceeded expectations, up 12%.
- GitLab jumped nearly 11% after strong results.
- Rubrik surged 24% on smaller loss report.
- Asana advanced 26% after better-than-expected loss.
In addition to Lululemon and Ulta Beauty, several other companies experienced notable stock movements. GitLab’s stock increased nearly 11% following its third-quarter earnings report, which showed adjusted earnings of 23 cents per share on revenue of $196 million, both exceeding analyst expectations. Rubrik’s shares surged almost 24% after it reported a smaller-than-expected loss of 21 cents per share, compared to the anticipated loss of 40 cents, alongside revenue of $236 million.
DocuSign’s shares rose 1.3% after the e-signature company projected fourth-quarter revenue between $758 million and $762 million, slightly above the consensus estimate of $756 million. Meanwhile, Asana’s stock advanced over 26% after it reported a smaller-than-expected adjusted loss of 2 cents per share on $184 million in revenue, beating the analysts’ forecast of a 7-cent loss.
Conversely, Samsara’s stock fell more than 9% after it provided lukewarm guidance for the fourth quarter, expecting earnings of 7 to 8 cents per share and revenue between $334 million and $336 million, which was below analysts’ expectations. UiPath shares dropped around 4% due to an underwhelming revenue outlook for the fourth quarter, despite reporting better-than-expected third-quarter results.
Overall, the premarket trading session highlighted significant movements among various companies, with Lululemon and Ulta Beauty leading the gains. The mixed results from other firms indicate a varied market response to earnings reports, emphasizing the importance of financial performance in stock valuation.
