CrowdStrike, Occidental, SoundHound and More: U.S. Stocks to Watch

marketwatch2023-03-08

Stock futures edged higher Wednesday following a session in which stocks sold off after Federal Reserve Chairman Jerome Powell said the central bank could raise interest rates higher than expected as it tries to cool a surprisingly strong U.S. economy.

These stocks were poised to make moves Wednesday:

CrowdStrike(CRWD), the provider of security software, was rising 6.2% in premarket trading after fourth-quarter adjusted earnings beat analysts’ forecasts and the company issued an outlook for the fiscal first quarter and year also higher than estimates.

Retail styling company Stitch Fix(SFIX) declined 8% after fiscal second-quarter revenue of $412.1 million fell from $516.7 million a year earlier and missed analysts’ expectations.

Occidental Petroleum(OXY) gained 2.5% after a filing disclosed that Warren Buffett’s Berkshire Hathaway (BRK.B) bought almost 6 million shares of the energy company in recent days, bringing its stake in Occidental to 200.2 million shares worth $12.2 billion.

Energy Vault (NRGV) jumped 11.6% after the utility-scale energy-storage-product provider reported fourth-quarter sales that topped Wall Street estimates but its revenue outlook for the current fiscal year was below the company’s own guidance.

SoundHound AI (SOUN), a developer of voice, sound and natural language artificial intelligence technologies, was down 7.5% in premarket trading after reporting a fourth-quarter loss of $30.7 million, wider than a year earlier.

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