Premarket Movers | Tuya Surges 7%; Toll Brothers Jumps 6%; GDS Holdings Gains 5%; Take-Two and Palo Alto Drop 4%

Tiger Newspress
21 May

Tuya shares jumped 7% after the Internet of Things cloud development platform returned to profit in Q1 as revenue jumped 21%. The company returned to an attributable profit of $11.0 million in the first quarter from an attributable loss of $3.5 million in the year-ago period.

Toll Brothers shares advanced 5.6% after the luxury homebuilder’s earnings topped forecasts. Toll Brothers reported earnings of $3.50 per share in the second fiscal quarter, above the consensus estimate of $2.83 per share, according to LSEG. The company posted $2.71 billion in revenue versus a $2.48 billion forecast.

GDS Holdings shares jumped 4.6% after the cloud company returned to profit in Q1 as revenue jumped 12%. The company returned to an attributable profit of 763 million yuan in the first quarter from a loss of 345.8 million yuan in the year-ago period.

Keysight shares climbed 4.3%. The electronic test equipment manufacturer reported earnings for the fiscal second quarter that came in above Wall Street consensus forecasts. Keysight posted $1.70 per share, excluding items, on revenue of $1.31 billion, while analysts polled by LSEG had penciled in $1.65 per share and $1.28 billion in revenue.

Nu Holdings said Chief Operating Officer Youssef Lahrech is stepping down after more than five years, adding to a string of management changes in the upper ranks of Latin America’s standout financial technology firm. The shares dropped 3%.

Take-Two shares slid 3.8% after the video game maker announced a proposed offering of $1 billion in common stock. JPMorgan and Goldman Sachs are the lead bookrunning managers for the offering.

Cybersecurity company Palo Alto Networks shares fell 3.8%. Palo Alto reported remaining performance obligations — revenue it expects to receive from services yet to be delivered — of $13.5 billion in the fiscal third quarter. That came in slightly below the $13.54 billion analysts polled by StreetAccount expected.

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