Benzinga's Premarket Brief On Trending Tickers: Tesla, Lululemon And More

Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.
The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.

Tesla Inc NASDAQ: TSLA) shares fell more than 5% Friday morning after CEO Elon Musk called for Tesla’s “global hiring freeze,” and a possible trimming of 10% of staff, foreshadowing macroeconomic challenges ahead.

Okta Inc OKTA shares flew more than 14% higher after the company reported earnings that beat estimations on the top and bottom lines. Okta said quarterly losses came in at $0.27 per share, beating expected losses of $0.34 per share, while reporting quarterly sales of $415 million, beating Street estimates of $388.99 million.

Deutsche Bank analyst Patrick Colville maintained Okta with a Buy rating and lowered the price target from $195 to $130.

Crowdstrike Holdings Inc CRWD shares are volatile after the company reported first-quarter revenues of $487.8 million, beating Street estimates of $463.27 million. The cybersecurity company reported quarterly earnings of 31 cents per share, which beat the estimate of 23 cents per share.

Morgan Stanley analyst Hamza Fodderwala maintained CrowdStrike with an Equal-Weight rating and raised the price target from $181 to $195.

Palantir Technologies Inc PLTR shares gained more than 9% on Thursday after Palantir said it was expanding its partnership with the U.S Space Systems command. The contract extension ensures that Palantir's data and decisions platform will continue to support national security objectives through March 2023.

StoneCo Ltd STNE shares gained more than 11% Friday morning after the company reported first-quarter revenues of $2.07 billion, above the mid-range of the company’s guidance of $1.85 billion.

Lululemon Athletica Inc LULU shares are near-flat Friday morning after reporting quarterly earnings of $1.48 per share, beating Street estimates of $1.43 per share. The company reported quarterly sales of $1.61 billion, again beating analyst estimates of $1.53 billion.

Deutsche Bank analyst Gabriella Carbone maintained Lululemon with a Buy and raised the price target from $423 to $427.