U.S. stock futures were sharply higher this morning, with the Nasdaq futures surging more than 0.85% on Friday following spectacular earnings reports from major enterprise technology hardware and data storage infrastructure providers.
Shares of Dell Technologies Inc. (NYSE:DELL) skyrocketed in pre-market trading following stellar first-quarter results that shattered Wall Street forecasts.
Dell reported quarterly adjusted earnings of $4.86 per share, massively beating the consensus analyst estimate of $2.90 per share. The company raised its full-year fiscal 2027 revenue guidance to a midpoint of $167 billion, signaling that AI infrastructure demand shows no signs of slowing down.
Dell shares jumped 37.23% to $435.11 in pre-market trading.
Here are some other stocks moving higher in pre-market trading:
- NetApp Inc. (NASDAQ:NTAP) shares surged 17.34% to $167.10 in pre-market trading after reporting record net revenue of $1.95 billion (up 12% year-over-year) and adjusted EPS of $2.43, comfortably beating analyst projections on robust demand for its all-flash data storage arrays and new co-engineered NVIDIA AI data engines.
- TE Connectivity Ltd. (NYSE:TEL) rose 9.50% to $230.32 in pre-market trading.
- Qualcomm Inc. (NASDAQ:QCOM) advanced 4.92% to $255.26 in pre-market trading, as it unveiled the Snapdragon C chip for affordable AI laptops.
- IBM (NYSE:IBM) rose 4.70% to $276.65 in pre-market trading, as the company announced its plans to invest $10 billion to build a large-scale quantum computer by 2029.
- ARM Holdings plc (NASDAQ:ARM) pushed 4.39% higher to $350.00 in pre-market trading.
- Expeditors International of Washington, Inc. (NYSE:EXPD) climbed 19.52% to $190.00 in pre-market trading.
- Oracle Corporation (NYSE:ORCL) ticked up 4.00% to $211.85 in pre-market trading.
- MongoDB, Inc. (NASDAQ:MDB) rose 4.08% to $339.00 in pre-market trading after reporting a milestone first quarter, posting its first swing to net profitability with $687.62 million in revenue and raising its full-year guidance.