Stock index futures were largely flat on Wednesday, as traders awaited Nvidia’s (NVDA) quarterly results. Here are four stocks to watch:
PayPal (PYPL) stock was down 2.2% in premarket trade as a media report suggested that German banks had blocked payments due to a technical issue with PayPal’s security system. The U.S. payment technology company’s security systems, designed to weed out fraudulent payments, apparently failed, tying up “direct debits worth tens of billions.
Snowflake (SNOW) was up 5% in extended trading as investors awaited the firm’s second-quarter earnings results. Focus will be on customer acquisition, updates to Snowflake’s go-to-market strategy, and margin improvement and cost control. Analysts on consensus expect the company to report a 50% increase in earnings per share to $0.27 on a revenue of $1.09B, a 25% increase from last year.
Canada Goose (GOOS) shares were up 15.6% in premarket trade after its controlling shareholder, Bain Capital, reportedly received bids to take the luxury parka maker private at a valuation of about $1.4B. As of March, Bain owned around 60.5% of Canada Goose’s multiple voting shares, giving it 55.5% of total voting power.
HP (HPQ) will be keenly watched as it will report its third-quarter earnings after the closing bell, and investors will keep an eye on PC demand and the company’s print segment. Wall Street expects the California-based PC maker to post EPS of $0.75, implying a decline of 9.6%, while revenue is projected to increase 1.4% to $13.71 billion during the quarter.