{"id":45996,"date":"2024-03-16T06:12:53","date_gmt":"2024-03-16T06:12:53","guid":{"rendered":"https:\/\/manitimes.com\/rivn-mu-adbe-ulta-and-more\/"},"modified":"2024-03-16T06:12:53","modified_gmt":"2024-03-16T06:12:53","slug":"rivn-mu-adbe-ulta-and-more","status":"publish","type":"post","link":"https:\/\/manitimes.com\/rivn-mu-adbe-ulta-and-more\/","title":{"rendered":"RIVN, MU, ADBE, ULTA and more"},"content":{"rendered":"<div>\n<div data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<p><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"xyz-data\">Check out the companies making the biggest moves in premarket trading: Rivian Automotive \u2014 The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . The firm also upped its price target to $21 from $15, suggesting 96% upside from Thursday&#8217;s close. Analyst Alexander Potter cited Rivian&#8217;s new product launch and its decision to delay capital spending for the call. Micron Technology \u2014 The semiconductor stock added 2.5%. On Friday, Citi named Micron one of its top picks and increased its price target to $150 from $95, suggesting 64% upside. The bank believes Micron&#8217;s stock should get a premium given its increasing exposure to artificial intelligence. Adobe \u2014 Shares fell 11% a day after the software company issued weak revenue guidance for its current quarter. However, Adobe topped expectations for earnings and revenue for its fiscal first quarter. It also announced a $25 billion share buyback. Ulta Beauty \u2014 Shares tumbled 6.5% a day after the beauty retailer issued full-year earnings guidance that came in on the low end of the consensus forecast. However, Ulta reported an earnings and revenue beat for its fourth quarter. Crypto stocks \u2014 Stocks connected to cryptocurrencies fell as bitcoin retreated from its recent highs. Coinbase and Microstrategy shed about 6% and 5%, respectively. Marathon Digital slipped 4%. Shares had ripped higher as bitcoin climbed. Cardlytics \u2014 Shares soared 50% a day after the advertising company&#8217;s 2023 adjusted earnings before interest, taxes, depreciation and amortization turned positive for the first time since 2019. Its first-quarter forecast also came in higher than expected. PagerDuty \u2014 Shares dropped 8.5% after the IT company, specializing in incident responses, issued a weaker-than-expected forecast, even as its latest quarterly results beat expectations. For the first quarter, PagerDuty expects adjusted per-share earnings of 12 cents to 13 cents, weaker than the LSEG consensus estimate of 18 cents. Revenue guidance is in the range of $110.5 million and $112.5 million also below the $113.4 million analyst expectation. Smartsheet \u2014 The stock shed more than 8% a day after the business software provider gave revenue guidance for the current quarter and full year that missed analysts&#8217; expectations. Zumiez \u2014 Shares declined 11% following the specialty retailer&#8217;s weak outlook. After the close Thursday, Zumiez guided for a first-quarter loss of between $1.09 and $1.19 per share, versus the consensus estimate of a 34 cents per share loss, according to FactSet. Revenue guidance also fell short. \u2014CNBC&#8217;s Sarah Min contributed reporting.<\/span><\/span><\/span><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Check out the companies making the biggest moves in premarket trading: Rivian Automotive \u2014 The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . The firm also upped its price target to $21 from $15, suggesting 96% upside from Thursday&#8217;s close. Analyst Alexander Potter cited Rivian&#8217;s new product launch and<\/p>\n","protected":false},"author":2,"featured_media":45997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/posts\/45996"}],"collection":[{"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/comments?post=45996"}],"version-history":[{"count":0,"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/posts\/45996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/media\/45997"}],"wp:attachment":[{"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/media?parent=45996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/categories?post=45996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/manitimes.com\/wp-json\/wp\/v2\/tags?post=45996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}