Examine the companies generating buzz in premarket trading. Nvidia saw its stock rise 7% when it announced remarkable figures that surpassed Wall Street's projection. The chipmaker forecasted that sales will escalate by 170% due to the demand for AI chips. Adjusted earnings exceeded the Refinitiv-surveyed analysts' expectations of $2.09 per share by coming in at $2.70. Revenue was $13.51 billion, surpassing the predicted $11.22 billion. Stocks of semiconductor firms involved in AI and Nvidia advanced in the premarket due to Nvidia's strong earnings report. Advanced Micro Devices, Marvell Technology, and U.S.-listed shares of Taiwan Semiconductor increased by 2.3%, 4.2%, and 3.1%, respectively. Broadcom and Super Micro Computer ascended 3.4% and 8.5%, respectively. Boeing's shares declined 2% before the opening bell after they revealed a new production flaw that would postpone 737 Max deliveries. The issue is linked to Spirit AeroSystems' fastener holes which were drilled inappropriately on some of the model's aft pressure bulkheads. Spirit AeroSystems dropped more than 6%. Splunk received a 13.6% hike after it reported better-than-anticipated earnings. The cloud services company got 71 cents per share, after adjustments, on $910.6 million in revenue during the second quarter. Analysts surveyed by FactSet had predicted Splunk to achieve 46 cents per share and $889.3 million in revenue. Furthermore, they lifted their guidance. Snowflake's shares rose 3.5% in the wake of its earnings report. Snowflake revealed 22 cents in adjusted earnings per share combined with $674 million in revenue. Refinitiv-surveyed analysts had anticipated 10 cents in earnings per share on $662 million in revenue. Dollar Tree's stock plummeted more than 6% in premarket trading after its third quarter earnings outlook was much lower than the expectations. The company estimated between 94 cents and $1.04 in earnings per share for the current quarter, while analysts were looking for $1.27 per share, as per Refinitiv. Nonetheless, its second-quarter results surpassed estimates. Guess' shares rose more than 16% on the back of its earnings report. The apparel company declared adjusted earnings of 72 cents per share on revenue of $664.5 million in the second quarter. The CEO Carlos Alberini said, "Our international businesses continued to perform strongly with robust revenue growth" and highlighted "strong gross margin" and "effective cost management" in the quarter. Autodesk's stocks climbed more than 6% after the software company declared better-than-anticipated quarterly results and third-quarter guidance. Autodesk registered adjusted earnings of $1.91 per share on $1.35 billion in revenue. These figures were better than the EPS of $1.73 on revenue of $1.32 billion expected by analysts summoned by Refinitiv. In the face of Petco Health and Wellness's second-quarter earnings before the bell, its stock plummeted more than 10%. Adjusted earnings per share of 6 cents was in line with estimates and revenue slightly beat forecasts, as per StreetAccount. However, Petco's full-year guidance for adjusted EPS and adjusted earnings before interest, taxes, depreciation and amortization failed to meet consensus estimates.— CNBC's Hakyung Kim, Pia Singh, Sarah Min, Michelle Fox and Jesse Pound gave their contribution to this report.
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