U.S. stock futures surged this morning, with the Dow futures gaining around 200 points. However, Guess? Inc. shares plummeted in pre-market trading after the company reported disappointing second-quarter earnings and lowered its annual outlook. Several other companies, including Pure Storage, Applied Digital, Okta, and NCR Voyix, also saw their shares decline following earnings reports.
Pure Storage exceeded analyst expectations for both earnings and revenue in the second quarter, with revenue increasing 10.91% year-over-year. The company also highlighted strong growth in subscription services and recurring revenue, and provided an upbeat outlook for the remainder of the fiscal year.
Pure Storage (PSTG) has consistently exceeded earnings expectations in recent quarters. With a positive Zacks Earnings ESP and a Zacks Rank of #3 (Hold), analysts are optimistic about the company’s upcoming earnings report. This suggests that Pure Storage could be well-positioned to maintain its earnings-beat streak.
