Check out the companies that make headlines before the bell. Palo Alto Networks – Shares in the cybersecurity company fell 3.7% after Palo Alto Networks’ gross margin fell below estimates in the third quarter. However, the company still won revenue and revenue expectations. UnitedHealth – Stocks fell more than 6% after HSBC downgraded the health insurance giant. Target – Retailer stocks fell 3.5% after Target missed first-quarter revenue estimates and reduced its full-year sales outlook. Executives condemned uncertainty in tariffs, weak discretionary spending, and response to the company’s rollback of key diversity, equity and comprehensive efforts for its performance. Lowe’s – Home Improvement Retailer shares rose 2%. Lowe reaffirmed its full-year forecasts and got retailers on track compared to the previous year. Lowe also reported earnings of $2.92 per share, breaking LSEG estimates at $2.88 per share. The $20.93 billion revenue was slightly embarrassed by the expected $20.94 billion. Toll Brothers – Homebuilders rose more than 4% after quarter results exceeded expectations. Toll Brothers reported earnings of $3.50 per share with revenue of $2.74 billion. Analysts surveyed by LSEG were looking for $2.83 per share in earnings and $2.48 billion in earnings. Carters – The children’s clothing company stock slid about 6% after Carters reduced its quarterly dividend from 80 cents per share to 25 cents per share. The company’s chief executive said in the release that Carter’s dividends are misaligned with the level of profitability for the current market environment, and that high tariffs could incur Carter’s significantly higher product costs. Semiconductor Supplier’s shares plummeted over 60% after WolfSpeed - Wall Street Journal reported. We cited sources who are familiar with the issue of WolfSpeed preparing to file for bankruptcy within weeks. XPENG – Chinese EV makers rose more than 5% before the market after a lower loss than expected in the first quarter. Xpeng added that it plans to deliver between 102,000 and 108,000 vehicles in the second quarter. This represents an increase of more than 200% from the previous year. – CNBC’s Sarah Min and Jesse Pound contributed the report.
