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DocuSign’s fiscal first quarter revenue and billings exceeded the company’s own forecast.
Courtesy of DocuSign
Stock futures indicated that Wall Street would open lower on Friday, a day after the
S&P500
crossed into bull market territory.
These stocks were set to move on Friday:
DocuSign
(DOCU), the e-signature company, rose 6.3% in premarket trading after fiscal first-quarter revenue and billings beat the company’s own forecast, and it raised its outlook for the fiscal year ending in January. Billings for the quarter were particularly notable, jumping 10% from the prior year to $674.8 million, more than
DocuSign
the initial 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
You’re here
‘s (TSLA) supercharger network in 2024. The deal is similar to the deal
You’re here
And
Ford
(F) announced in May.
As for Tesla, the stock jumped 6.2% in premarket trading to $249.36. Shares of the electric vehicle giant closed with a 4.6% gain on Thursday for their 10th consecutive gain. On Friday, Wedbush raised its price target on Tesla to $300 from $215 and maintained its outperform rating on the stock.
NIO
(NIO), the Chinese electric vehicle maker, reported higher first-quarter loss and revenue, below analysts’ expectations. The company’s outlook for the second quarter was also disappointing. NIO’s US certificates of deposit fell 1.4%.
Shares of
Corning
(GLW), the producer of specialty glasses, rose 3.2% to $32.70 after analysts at Morgan Stanley upgraded the stock from Equal Weight to Overweight and raised their price target to $38. for $35.
Target
(TGT) was downgraded to Neutral from Buy to
City
,
and the price target was reduced from $177 to $130. Shares of the retailer fell 1.3% in premarket trading to settle at $129.54.
Cloud-based software company
Brazing
(BRZE) rose 9.9% after its fiscal first-quarter revenue jumped more than 31% to $101.8 million, and the loss for the period was smaller than analysts’ expectations.
Planet Labs
(PL), the satellite imagery company, fell 17% after forecasting revenue for the fiscal year of about $225 million to $235 million, below analysts’ forecasts of about $257 million.
Duck horn wallet
(NAPA), the luxury wine company, raised the bottom of its sales forecast for the year and raised its outlook for adjusted earnings to between 64 and 66 cents per share, from 63 to 65 cents previously. The shares rose 4.9%.
Write to Joe Woelfel at joseph.woelfel@barrons.com